baobabs727

you have to have parking. this is HR. let not perfect be the enemy of good enough. but then again, why are we even commenting lol. i mean, this is soooooo random and preliminary...and far off into the future, no doubt. if ever. I counted 25-27. One of them may appear taller than that. As an aside, I'm surprised Kenny didn't boast that this project would carry a price tag of some $2.4bn!! In 2038 dollars. But wait, the "bn" category is reserved for the NOVA's and (now/recently) RVA's of the world.

Are we talking full demo of the 3 story structure?

haha...I was just about to say the same thing. Chick fil-a anyone? ugh.

Absolutely! I am doubtful that city govt will give its blessing on this one.

Anyone here work in commercial lending? There's got to be a secret to that application sauce that other developers have perfected here...and these people never could do ...even in the best of/better times. They blamed it on tertiary and quaternary market labels, but I think there was way more to the story, as others got their apartment developments approved all over the damn place. I am aware of many other factors determinant of lending underwriting decisions, and I won't spell them out here because I'm too lazy ....lol

True. AND she's more powerful than ever.

"Set" in Virginia Beach doesn't mean "filmed' in Virginia Beach. It just means that the scenes will purport to be in Virginia Beach or of Virginia Beach. Like underneath the scene it will say "Virginia Beach, 1977", but it will really be Richmond City or some soundstage up there. And this goofball on Instagram is the only one I've seen reporting that filming will be in Coastal VA. Four or more other sources say Richmond. You might notice how Pharrell hasn't said much of anything. Lol. The councilperson told me that Pharrell could hardly be found at SITW and was only talking to one former Councilperson right now. He has no relationship with this current Council or City leadership. He said Richmond didn't really outbid Virginia Beach,; rather, Virginia Beach wasn't given a chance. As in Pharrell picked Richmond without any real communication with VB. Of course there are always two sides to any story. Hopefully, Pharrell will give his side one day lol. Anyway, I sure hope it's true that he will be filming here as well, but I'm going to reserve judgment. Seeing is believing, right?

Word

Ok. I'm not discounting what you have observed there and expressed here, but your youthful exuberance is really showing lol. And good for you. I mean, you're not going to get a 30, 40 or 50 year native of any City to change his/her allegiances or to otherwise declare their preference for another town over their own hometown...after one...single...visit. I'd bet money that if after a year in Richmond you visited DC, Philly, NYC, Chicago, each for a week, you would most promptly declare each one of those cities, in rapid succession, to be your (new) favorite over Richmond. LOL. Truth. But yeah, Richmond's CBD, Downtown and urban residential districts are much larger than Norfolk's. Richmond is also the seat of governmental power for the Commonwealth, so you have to consider that a distinct advantage for them in terms of largesse. Richmond is also not bound by water on three sides, as Norfolk is bound. Additionally, Richmond didn't suffer as much as Norfolk did from the annexation processes of the 21st Century. The rest of it, and more, was covered most expertly by HRVA..... Now go forth and prosper!

Oh ok, glad to know that you have since lowered your eyebrow lol. Still thinking he will film at least one scene here? Received a reply to my inquiry from a vb councilperson. Stunning. Let's just say that it's looking like some of us have been right about him all along. Very sad to report. You know, the blinding spotlight on Celebrity can mask many a character flaw. (Best of luck to Chad Hugo)

Only thing giving me pause is the comment at the end that the powers that be in Richmond would like to ensure that the Pamunkey are not cut out of any new development deal. That is not free-market economics. So if a Bally's or a Hard Rock comes along and balks at sharing proceeds with the Pamunkey, that would be a deal-breaker? Yikes. This caveat has Louise Lucas written all over it! LOL!

https://www.pilotonline.com/2024/04/04/norfolk-leaders-consider-new-casino-developers-amid-stalled-plans-with-headwaters-group/ New Casino Developers being considered.

Agreed. Well in that case, not only are they incredibly inconsiderate, they are liars.

LOL dumb arses can't plan their way out of a paper bag, apparently. Like, really? They didn't know the size of SCOPE? Come on. And they won't release the tech specs? What, do they need a bigger stage? Higher ceiling? Differently shaped arena? Do tell, boys! But they won't. At least not so far. Ohh...and they promise to reschedule? LOL. Um, reschedule where? If this concert is so huuuuge, where are they going to find an arena in HR to accomodate the spectacle they have planned for fans? And I'm reading that since they said the magic word, "reschedule," instead of , "cancelled," Tickemaster will not allow refunds until 60 days have passed without an announced reschedule! LOL! So people are out $$$$ for perhaps as long as 60 days! That venue has handled world-class acts and monster truck shows. Surely, it can handle a band like this...one that most folks have never heard of I'm sure.

Both of my eyebrows are now raised. Read the caption beneath the article I posted from the pilot. Richmond offered four times the $$$$ amount that Virginia Beach offered as an incentive to film in Richmond. How Humiliating. You know if I'm being snarky I'm about 2 seconds away from saying that Virginia Beach already gave Pharrell 150 million. Wonder how much Richmond gave him. Truth is truth.

So. Did you find the link? https://www.pilotonline.com/2024/03/28/movie-based-on-pharrell-williams-virginia-beach-childhood-will-be-filmed-in-richmond-reports-say/ Another article reporting that the film will be made in Richmond. Well it sounds like Hollywood and Richmond. Read the caption under the picture. It says that Richmond basically outbid Virginia Beach. "Musician Pharrell Williams secured the money as a city subsidy, quadruple the amount that was originally proposed from Virginia Beach." Also, there appears to be heavy editing because what I read just 20 minutes before was that the movie was originally set to be filmed in Virginia Beach but then Richmond offered more money. Now that part is deleted... it's very strange ... something very weird is going on.

Oh boy, this is RICH!!!! So. Media reports have it that Pharrell Williams' official, self-produced/self-penned biopic, "SET IN 1970's/80's Virginia Beach, Virginia, his hometown" is to be filmed in ...wait...for...it...RICHMOND!! LMFAO!! You cannot make this sh*& up. I'm sorry, but you don't purport to actually portray your hometown of Virginia Beach in the 70's and 80's and then use RICHMOND as a backdrop. WTH!? I am really really hoping that we will soon discover that there will be many major scenes filmed right here in Virginia Beach. You know, his hometown ...which, you know, plays a central role in his self-produced/self-penned biopic. Heh. https://richmond.com/life-entertainment/local/movies-tv/pharrell-movie-filming-in-richmond/article_15a86fae-ec6a-11ee-ab99-03bcec65086e.html

I've never said anything about it, but I've wondered for many months now why this thread status was marked "cancelled." A/H is not selling this property. They have not abandoned plans to redevelop the entire site. If you read the conference call transcripts going way back, the BB&B site has always been in play. And it remains in play, quite actively. The multi-family component will one day be built on the massive Regal block, but until such time as Regal calls it quits there, A/H is content with collecting rent. For now. Until the fundamentals change, that is.

On another note, I did not realize how large of a footprint Seritage had at Pembroke Square. SEE 1st pic., outlined/shaded in green. Sold for 27M to ArmadaHoffler dba Town Center Pembroke LLC. FRIGHTENING! And borderline evil, imho. Of course I knew it happened right after it happened, but I didn't realize...well..look at that footprint!! EDIT: Seritage actually owned MORE land/bldgs before their big sell off in 2022...more than I had realized! More than even the first pic. In fact, It looks like they owned approx. 35 percent of the entire "mall: land area. Including the bank bldg (sold to a CA investor) on the corner, Smokey Bones (sold to a local investor), more parking lots AND REI (sold to a CA investor). https://propertysearch.virginiabeach.gov/#/property/14774670150000 they are deeeeeeelusional lol

New Restaurant Concept for the Macaroni Grill site to open...potentially...by the end of this year. Looks like a reno then.

Great scoop. I was just about to write to Mr. Smith. Ok, so I actually like the re-design. I mean, it is what it is... at 7 stories...but they made the best of it (for the budget conscious developer)...and...I like the massing along that block. Nice and long, really nearly 8 stories with the roof cap. Also, I'm glad it's a TEMPO. I wonder when the new restaurant concept will take shape at the old Romano's Macaroni Grill? Will they wait until the Tempo is complete to begin construction/renovations? Or will they start now and finish up before hotel construction begins? Will be interesting to see the apartment renders. Is anyone here talented/skilled enough to merge this render with a google street view of the actual block in question? @mintscraft56 ? https://www.13newsnow.com/article/news/local/mycity/virginia-beach/former-pembroke-mall-virginia-beach-demolition-begins/291-d2931bc3-416d-431d-8c67-1de55bee0dca https://www.virginiabusiness.com/article/pembroke-square-starts-phase-2-of-mall-redevelopment/ Unfortunately, as we knew, the garage for the apartments will now be situated NEXT to the bldg. instead of being incorporated beneath it. UGH. That is terrible.

Bam!

Q3 Conference Call: "The former Bed Bath & Beyond in Durham has also remained top of mind and discussions with a short list of suitors for that space are progressing. As mentioned last quarter, in the Virginia Beach location, we have used the opportunity cost equation to narrow the programmatic options to best fit our strategy." Q3 Conference Call: "As you know, part of that — the total parcel of 10 acres with the Bed Bath piece being roughly half or a little bit over half of that, the other being Regal Cinema. Regal Cinema continues to go — and if that — at some point, if that becomes available, that would probably be a multifamily portion. But right now, the program is on the Bed Bath site, and we’re dealing with a few high-end new-to-market retailers that we’d like hope to be announcing in the next quarter or so. But that will be essentially retail. And whether or not there’s any reuse of the box that’s there remains to be seen. Q4 Conference Call: "We anticipate starting a re-development of the Bed Bath site that we’ve been talking about for a while. Right now, developments don’t pencil, don’t pencil with our cost of capital. That’s why we’re going to be reliant more on the preferred equity and the mezz platform in order to grow the portfolio. But right now, construction costs have not come back in-line. Interest rates remain elevated and you don’t have a ton of rent growth. Ironically, where we would have the most room is in office space, but obviously it’s just because we’re completely full in the locations that we have. And under normal circumstances, you’d be launching new office with anchor tenants. Obviously, that’s not going to be the case right now and as we wait to see how the office market on a macro level shakes out.

It is written.

(My apologies for the 2 zillion edits and additions. I was attempting to write this mess during a zoom work meeting and hit "enter" prematurely on at least 5 occasions LOL. OOOPS.) Ohh kayy. So people here are actually agreeing to the ABSURD notion that SP>VBTC. (Or that it soon will be so.) I. simply. cannot. with. this. Beam me up, Scottie!!!! True, Summit Pointe is in a totally different stage of development than is VBTC. VBTC was conceived in the 80s and 90s by Gerald Divaris, and construction began in earnest nearly 25 years ago. Summit Pointe, on the other hand, a pet project backed by the largess of a Fortune 500 with a singular vision, has seemingly sprouted up overnight. So, I agree, the relative growth curves are not aligned at the moment. However, VBTC is King, and Summit Pointe still has a major bit of catching up to do relative to ALL of the data points I mentioned above. Data points which you, for the most part and rather conveniently, ignored. LOL. Bottom line is that despite A/H's perceived "coasting" position, and despite the limited availability of developable land within the VBTC envelope, VBTC STILL has and WILL continue to have the retail edge, the restaurant edge, the Class-A office edge, the investment $$$ edge, the residential edge==most especially relative to the for-purchase/condo market==and the bragging rights edge for the tallest tower in Virginia (for now!)..... And, sorry, but the "TALLness" aspect of neo-urban downtown-type development is still relevant and important, despite your assertion that people around here (wooo hoo, aren't we the special arbiters of all things great in local development!!!) are beginning to poo poo the concept of towers lol. Frankly, I think they're just desperate for development/density/progress of ANY kind at this point. And that's kind of sad imho. By the way, the aforementioned advantages that VBTC has over SP will likely exist, by and large/give or take, for years to come. Potentially even in perpetuity. Yes, please do chew on that for a sec. Ok, boss. Let's make a deal. If and when the likes of a Ruth's Chris, Cheesecake Factory, Tupelo Honey, California Pizza, Cantina Laredo, Legal Seafoods, PF Changs, Nandos, Yard House, Bravo Cucina Italiana, WESTIN, Brooks Brothers, Blue Mercury, Free People, LuluLemon, West Elm, Pottery Barn, Williams Sonoma, Anthropologie, Funny Bone, Lego, Madewell, etc., decide to validate your esteem for Summit Pointe by locating at Summit Pointe, I'll agree with you that Summit Pointe is in some way competitive with VBTC. Moreover, if and when Summit Pointe lands a best-in-class $50M (in 2007 dollars!) performing arts center like the Sandler , plus a Zeiders type theatre, once again, I'll agree with you. And if and when Summit Pointe, notwithstanding the 500,000 sf corporate HQ for Dollar Tree, develops the likes of 800,000 sf of Class A office, I'll pat you on the back. And if and when Summit Pointe constructs and fully leases 700,000 sf of retail, I'll shout your praises from the mountain tops!! And if and when SP declares itself a $700M development, I will throw you a ticker tape parade! And if and when Summit Pointe is selling 400K-1M, 2M, 3M, 4M, ....("M" stands for Million lol)...Dollar condos, I'll have a beer with you and congratulate you on your having possessed wisdom beyond your years. And, truly, I hope that day will come. Not just because I like beer and wouldn't mind meeting you after all these years. LOL. Nay, I hope you are correct--that SP will one day compete with VBTC on a level playing field-- precisely because I want to see SP grow and grow and grow. For a rising tide lifts all boats in HR. That is my firm and fervent belief.