ST. CROIX — The Virgin Islands Innovative Housing Construction Summit will return this month with the goal of connecting residents, industry professionals, and government officials to explore new ways of making homeownership more affordable in the territory.
The free summits will be held from 8 a.m. to 5 p.m. August 13 at the Innovation Center at the University of the Virgin Islands on St. Thomas and August 15 in the UVI Great Hall on St. Croix.
The Innovative Housing Construction campaign is led by the Virgin Islands Territorial Association of REALTORS, supported by grants from the National Association of REALTORS, and championed by Senator Marvin Blyden, chair of the Legislature’s Committee on Housing, Transportation and Telecommunications.
Blyden said the summits are designed to provide Virgin Islands residents with practical information and resources that can help them achieve homeownership despite the territory’s high construction costs and financing challenges.
“My goal and my mission is that every Virgin Islander, everyone has an opportunity to own a home and that they have access to afford and create that opportunity,” he said.
Blyden acknowledged that many residents struggle to qualify for home loans but said there are financing options available, including ways for property owners to leverage their land.
“There are different ways of doing it, and you must be informed and educated in order to know how to do it,” he said. “So, I urge everyone to come out and get engaged, be enlightened, and be informed.”
A major focus of this year’s summits will be innovative construction techniques that Blyden said can significantly reduce the cost of building a home. Sessions will highlight tiny homes, prefabricated modular homes, and insulated concrete form (ICF) construction, along with discussions on financial management, estate planning, and other topics related to homeownership.
Blyden said innovative building methods can reduce both labor costs and construction time while offering more affordable housing options.
“There are other ways also to drive down your cost,” he said.
The senator said interest in tiny homes continues to grow in the Virgin Islands, particularly among younger residents looking for alternatives to traditional housing.
“There is a demand for tiny homes right now in the Virgin Islands,” Blyden said.
Prefabricated modular homes are also being constructed in the territory by summit participant CAT5 Builders, which makes its building components on St. Croix for residential homes or commercial buildings. One of the projects the company highlights on is website is the installation of fabricated custom panels to infill an existing patio overhang on the rear porch of a house in Estate La Vallee on St. Croix.
The ICF construction method can cut building costs by up to 50% while producing homes stronger than traditional concrete blocks, according to the summit website. The insulated concrete forms are rigid foam or plastic foam molds that keep the concrete in place during curing and remain in place after pouring to serve as thermal insulation for concrete walls and roofs.
The summits will also feature demonstrations, keynote presentations, and breakout sessions led by experts from across the housing industry. Expected attendees include builders and contractors, mortgage and insurance professionals, architects, appraisers, material suppliers, government agencies, code inspectors, community leaders, and residents.
“There is something there for everyone,” Blyden said. “We’re gonna have breakout sessions. We’re gonna have demonstrations. We’re gonna have a keynote panel in terms of expertise, speaking about several opportunities and several ways of building.”
During last year’s summits, attendees had an opportunity to see insulated concrete forms on display by summit participants Caribbean ICF Solutions, an ICF materials dealer and solutions provider that works with contractors to provide support during construction.
According to Blyden, the events are intended to go beyond a traditional conference by giving attendees all the information necessary to achieve the goal of homeownership.
“I didn’t want to just have a conference,” Blyden said. “I want to have a summit that actually encompasses everything. So, when you leave that summit, you have a plan in your hand. You have a roadmap moving forward.”
The summits were first held last year to address the territory’s high construction costs, outdated building methods, and limited financing options. This year’s program will also examine updates to building codes that could allow for faster construction methods and smaller home designs.
Blyden spoke about the lack of housing options in the territory, providing a barrier for the return of young Virgin Islanders who relocated to the U.S. mainland.
“Our young people are leaving in droves,” he said. “We are educating them, and they are not coming home. They’re building other communities”
Blyden said young Virgin Islanders are not returning to the territory because they do not want to live with their parents or a roommate.
“As a public servant, it’s not my job; it’s my responsibility to assure that our young people come home and be part of this community and build our community,” he said.
The summits will also include information on bank financing, budgeting, and long-term financial planning to help homeowners maintain their investment.
“We want to cover the whole gamut when it comes to once you get that home, you’re able to keep that key and never lose that home,” Blyden said.
He encouraged residents to attend regardless of where they are in the homeownership process.
“I urge everyone to come to the summit and be informed, be educated,” he said. “When you leave there, you’re gonna leave with a plan. You’re gonna leave there with a roadmap. You’re gonna leave there with something tangible to give you hope to move forward of attaining that dream of home ownership opportunities and/or investment.”
Admission is free, but seating is limited and advance registration is encouraged. Residents can reserve a spot by registering online at usviinnovativeconstruction.com.
