Website wise you'll be fine on a 1G. Minecraft is more tricky, especially with 16 players. Minecraft is very RAM intensive. You'll be able to limit it of course (with the -Xms option I believe? Been a while since I hosted a MC server), but you may encounter some lagging depending on the size of your world, how far away they are from eachother and what server mods you use. It'll need more time to get stuff from the disk that didn't fit on RAM.
It is however easy to upgrade, so if you do have issues with memory you can easily upgrade to a bigger package
