Historic Tax Credit Part 2 Approved: Fifteenand9Main Marks Virgin Islands Milestone

Fifteenand9Main has secured Part 2 approval of the U.S. Historic Preservation Tax Credit — a major milestone for Charlotte Amalie redevelopment and Virgin Islands revitalization.

Why This Approval Matters

On May 12, 2025, the U.S. National Park Service approved Fifteenand9Main's Part 2 application in the three-part Historic Preservation Tax Credit process. This confirms that our rehabilitation plan for the building is aligned with national standards for certified historic work and supports ground-floor activation via retail spaces for rent in St. Thomas.

Part 2 outlines the condition of the building and the renovations needed. Part 1 confirmed that the structure is historic and located in a certified historic district. (We received Part 1 approval on September 4, 2024.)

Team Collaboration Drives Success in Historical Building Renovation

We began physical work with permission from the territorial preservation office and federal reviewers before receiving Part 2 approval. That early work was necessary to stabilize the structure. The roof and other key elements of the historic shell had already failed, and waiting would have caused further deterioration.

Sean Krigger, the territorial liaison for the U.S. Virgin Islands, provided support and urgency. His involvement helped us move quickly enough to prevent additional damage while keeping the work consistent with federal standards.

Our Part 2 submission totaled 32 pages documenting all rehabilitation work to date and the proposed remaining scope. The application reflects the direct effort of all four managing partners — Michael Donohue, Catarina Donohue, David Shear, and Carol Shear — and establishes Fifteenand9Main as a compliant, certifiable, income-producing historic redevelopment project in downtown Charlotte Amalie.

Engage in Preserving and Enriching the Virgin Islands' Historic Districts

Part 2 approval is not just a project milestone — it's a signal that preservation-centered redevelopment in the Virgin Islands is viable. The next phase depends on more participation from owners, tenants, and local operators.

Across the Territory:

• Charlotte Amalie Historic District: ~165 acres, ~500 contributing buildings, three contributing structures, and one contributing object.
• Christiansted Historic District: ~135.9 acres, 253 contributing buildings, and two contributing sites. Added to the National Register of Historic Places in 1976.

2024 HTC Annual Report Confirms Virgin Islands Application Activity

The 2024 Historic Tax Credit (HTC) Annual Report from the National Park Service lists Fifteenand9Main among submitted Virgin Islands applications and shows the geographic spread of approved and pending projects across states and territories. This is proof that the Territory is now on the board.

Part 3: Request for Certification of Completed Work

After construction is finished, the owner must submit a Part 3 application requesting certification of completed work. The National Park Service will compare the finished rehabilitation to what was proposed in Part 2. If the work meets the Secretary of the Interior's Standards, NPS will certify the rehabilitation and the project becomes eligible for the 20% federal tax credit.

This is the next step in our timeline at Fifteenand9Main. This, along with the rehabilitation of 9 Wimmelskaft Gade, moves Main Street from plan to reality.