A hopeful new chapter is unfolding in Charlotte Amalie’s historic district, as a local development group takes another significant step toward making the rehabilitation of St. Thomas’s historic buildings a reality.
Fifteenand9Main, the development group responsible for the historic rehabilitation project on 15 Main, also known as 15 Dronningens Gade, is not only rejuvenating a once-neglected piece of island history, but is also hoping to start a trend across the island.
Managing partners at Fifteenand9Main, David and Carol Shear, say their vision extends beyond restoring a single building — they want to spark broader preservation efforts in Charlotte Amalie.
“We really wanted to recreate what was down there historically,” said David Shear, “and hopefully this will motivate others to do the same downtown.”
“Once these buildings are gone, they’re gone forever. Our goal is to start a trend,” said Carol Shear
The catalyst for what they hope will spark wider preservation efforts is the group’s recent approval by the National Park Service for the Historic Preservation Tax Credit program. Their property at 15 Main Dronningens Gade qualified due to the building’s historical significance — most notably, its origins dating back to 1836, when it was originally a Dutch-mandated warehouse with storage space. “Old ships would come right up to the harbor and unload here,” said Carol Shear.
“[Acceptance for the tax credit program] really validates all the hard work we’ve put into the project,” said David Shear. “Very few projects have gotten this far through this process.”
15 Main is the first in Charlotte Amalie to receive the Historic Preservation Tax Credit — a milestone they hope could spark a wave of preservation projects by other developers throughout St. Thomas.
“The tax credit really does help,” said David Shear.
The federal program offers a 20% income tax credit for the rehabilitation of income-producing historic structures, making restoration more financially feasible while encouraging developers to protect these cultural landmarks.
Approval is granted through a three-step process: Part 1 confirms the property’s historic status; Part 2 reviews and approves the proposed rehabilitation plans; and Part 3 certifies that the completed project meets preservation standards.
Though seemingly simple, these steps can be extremely strict, and the project has not been without its fair share of challenges. The group faced a lack of blueprints, extensive damage to original historic features caused by storms and years of neglect, and the incredibly demanding federal guidelines attached to the tax credit program.
“It’s an arduous process,” said David Shear. “You have to do exactly what you say you’re going to do, or you risk losing approval.”
Despite the challenges, David added that the journey has been well worth it. “It’s been extremely fun,” he said. “It’s very rewarding.”
With approval of the tax credit, Fifteenand9Main is renovating and rehabilitating two properties — 15 Main Dronningens Gade and Wimmelskaft Gade 9 (also known as Back Street). The plan? To turn the former industrial building on Wimmelskaft Gade 9 into four apartments and one penthouse apartment, and restore the historic building at 15 Main to its past glory.
While building usage itself has not yet been decided, David and Carol Shear made it clear it would not become another jewelry store. They are open to community feedback on how the building and space should be used.
For more on the renovation, as well as additional information about Fifteenand9Main, please visit: https://fifteenand9mainstthomas.com/.
St. Croix Source
Local news
