Thus, if a portion of the property was used for residential purposes and a portion of the property (separate from the dwelling unit) was used for non-residential purposes, only the gain allocable to the residential portion is excludable under section 121.

I too am a NYC resident. I

Why should the housing industry be completely immune to government intervention? 

I am trying to see if I would be able to use any residential loan package on the following property.

The rising insurance cost coupled with falling condo prices are affecting the non-condo residential RE.  

I'm unsure how to stop this, but governmental action in this case I think is justified.This is probably a common problem in a lot of areas and could somewhat easily be addressed by special tax levies at the county level on any entity-owned and out of area absentee-owned residential property.  3x their property taxes and action will be taken in addition to much less purchases going forward.  

St Croix is larger and more residential than touurist, however.

Then you can really sell that experience too compared to a purely residential on. 

Will there be residential/SFH development west of Sloan/SW of Enterprise/spring Valley areas?

Most of the major residential brokerages are members.