Lockhart Realty, Inc.

tenants; they heavily rely on power and if we can make certain things available to them, as part of an offering, we want to do so.” Lockhart Realty just recently completed different stages of reconstruction on its Red Hook Plaza property on St. Thomas, which had sustained severe storm damage. All of Lockhart Realty’s properties had roof and exterior damage – varying kinds of roofs on different building types, and heavy exterior damages, as well. Therefore, the company put a program in place to seal the envelopes of the buildings and make certain they are watertight, replacing roofs, where necessary, and refreshing the exteriors. Several contractors are engaged to do the work, because of the number and size of properties and the challenge of finding labor. In some instances, the workforce and contractor base are supplemented from the mainland. One company Lockhart used had set up on the island after the storm and will remain there for a number of years. The difficulty of finding skilled labor is prevalent throughout the building industry. Sprauve recalls, “There used to be a vocational education program within the public school system, here, and absence of that is one of the reasons we aren’t producing skilled labor as we should. A number of us are discussing how we can bolster that. There are programs under consideration, at least, to get that aspect of learning back online in the school system, as a source of future skilled labor. Not every child wants to go the academic route. It is finding what their interests are and steering them towards the vocational trades like electricity, plumbing, masonry, or carpentry – those are all major trades needed to complete building and reconstruction projects. “I’m a Rotarian and my Rotary Club focuses on education and renewables. Two programs we heavily participate in are a culinary program and a marine-related program. Being surrounded by water, marine is a big industry for USVI, and trying to get our youth more involved in that aspect of work is significant. There is a huge demand for that pool of talent. Out of the same marine program, we are trying to develop a People who know, know BDO. SM BDO delivers assurance, tax, financial, and business advisory services to clients around the globe. We offer numerous industry-specific practices, world-class resources, and an unparalleled commitment to meeting our clients’ needs. At BDO, we search far and wide to find business opportunities and help them reach their true potential. We promote success, one client at a time. EXCEPTIONAL SERVICE.WORLDWIDE. Audit | Tax | Advisory | BSO www.bdopr.com 787.754.3999 BDO in Puerto Rico/USVI is a member of BDO International, the world’s fifth largest accounting and consulting network. BDO in Puerto Rico/USVI recognizes the contribution that Lockhart Realty, Inc. has made to the growth of the Real Estate industry and the economic development of the United States Virgin Islands. Congratulations! LOCKHART REALTY INC .