HRVA
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Posts posted by HRVA
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40 minutes ago, BeagleAccountant said:
Where are you getting 3 to 4 years? Demo was started in late 2021. We are at 2 and a half years. This was always going to be a slow project and while it has missed the initial construction estimates, it's reasonable given the lot.
Reasonable given the wider economic environment. Everything is taking longer currently and it’s not getting better anytime soon. 2 to 2.5 years is normal now.
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9 minutes ago, BFG said:
I might be reading too much into it, but considering the Mayor just announced this last month isn't it a little premature for The Pilot to make it seem like its in jeopardy? I know they love to downplay any major development in this area, but it hasn't even been a month.
I think it was premature for the mayor to include it in the SOTC. I’m all for transparency but it gave the impression to most that this was happening. Until there’s a name and money behind it, the proposal is no more likely than the conceptual renderings in the comprehensive plan.
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Interesting project at the Aquarium, a 125-foot observation tower with a slide that will reportedly be the nation’s longest stainless steel slide. Opening this summer.
https://myadventurepark.com/location/virginia-beach-va/owl-creek-landing/
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East Coast Demo is making quick progress at Pembroke. From their social media page:
The glare makes it somewhat hard to see but this is facing north with Target in the background. The remaining structure with the skylight was the center of the mall.
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4 hours ago, Arctic_Tern said:
Do we know if the grocery store is still a part of the development? Everything else is built and a lot of the staging/construction equipment is gone, but the area where the grocer is supposed to be is just empty.
Lidl purchased the site last August but they can be pretty slow to develop. After their initial launch in the US, they’ve really slowed their pace. There’s quite a few sites they had purchased and later abandoned plans but those were all acquired years prior to this one. Hopefully they’ve figured their strategy out and that’s not the case here but time will tell.
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1 hour ago, ONCE1stBlvd said:
Between the Target getting approved at Wards Corner and the former Kmart at Norview going to Planning Commission next month, Norfolk is chipping away at some of its biggest blocks of retail vacancies.
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More details on the BRT study and opportunity to provide feedback. I know some folks working on this and they’re desperate to get good feedback so please take a couple minutes to do so.
https://www.connectingchesapeake.com/blog/spring2024?-
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5 hours ago, urbanvb said:
Funny Bone comedy club is expanding by moving to Pembroke Square.
This is exciting. Funny Bone’s current space feels tired. And the draftcade concept sounds great, essentially what Circuit is downtown. it will be great to have that option rather than dealing with the kids at Apex. With over a year’s notice, AH has plenty of time to line up a new user for the current space.
Anyone know how much retail the redeveloped Pembroke Square will have, exclusive of the existing tenants?
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Milestone for the HRBT expansion today. Mary the TBM punched through the North Island.
https://www.facebook.com/share/v/Wr2VvJwQB4zSedBX/?mibextid=w8EBqM&startTimeMs=1000
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Virginia Beach Development Authority just voted to renew Armada Hoffler’s option for three years. City Council still has to approve it. Interesting detail is Armada Hoffler is paying the real estate taxes on it.
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Unless there’s actual names behind the proposal, I have to assume this is all conceptual. I will wait to see if there’s any additional details to come out but I’m pessimistic about a substantial redevelopment happening anytime soon.
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20 minutes ago, Si7i said:
Looks like the owner is going to ask the city to allow a drive-through and low-density development by subleasing the plot to multiple suburban restaurants. Seems as if half the property already has a potential leaser. The old listing still showed the former proposed apartment development, as of March 27th the listing was updated on Loopnet with these new low-density renderings. I hope the city doesn't budge on this and only allows multi-family or mixed-use. I miss when the Piliot used to dig into this stuff.
Yea that’s unfortunately what I was expecting. It’s mind blowing they couldn’t make this project work even during the surge in demand and low interest rates during the pandemic. It would be a massive disappointment if this is approved.
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Don’t get excited but the property is on the City Council’s pending land use report as having a pre-submittal meeting. The only detail is ‘rezoning-remove conditions’ which could mean anything but something to watch.
https://www.norfolk.gov/DocumentCenter/View/85963/Pending-Land-Use-Report-
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12 minutes ago, mintscraft56 said:
(Summary: This is gonna be a long(ish) read on Richmond and Norfolk, and what I witnessed and realized as I visited their beautiful (soon to be my home) city)
BTW take my opinion with a grain of salt if you wish, but just let me talk.
So I think something has opened my eyes about Richmond. I may or may not be a student of VCU next year (VCU had more opportunities for me than ODU) and I visited Richmond this past Monday to further tour the campus and meet guidance councilors, ect. As I walked the streets of the "Fan District" and the VCU campus I was awe struck with a realization of what Norfolk needs to improve, add, ect. I dont know why and I dont know how but I have always neglected to check out areas outside of their Downtown. The first thing that struck me when I left their downtown district was the fact that the surroundings were still very much Urban. Infact, I was surrounded by busy sidewalks, streets, and a sea of mid/lowrise (Yet VERY urban) buildings.
Then it clicked.....Holy heck. When I walk away from Downtown Norfolk/Neon District I automatically end up in urban neighborhoods of single lone standing unconnected houses with lawns and driveways. Something is wrong. How the heck did I go from Towers to small single homes in a matter of a few blocks? We are missing urban(ness(?)) around our downtown.
Below is a picture I will attach that I took of Richmond from the VCU campus. Look how far away the downtown is and look how urban the city still is from that far away. I would like to say the saying "I hate to say it" but honestly I dont hate to say it at all, Richmond is a beautiful city and im starting to like it more over Norfolk just from this one experience. Norfolk will forever be my home at heart but I cant help to think that Richmond has their crap together. Anyways I look forward to moving to my new home for 4 years. It seems my love of urban places is in safe hands with Richmond till I return (I wont be going for a few months though, so ill be here a while)
Richmond didn’t have the massive urban renewal/clear cutting of their urban landscape that Norfolk did. They also benefit from being the clear CBD in the region where each city down here seems to have their version of one, even if Norfolk is the main one. There were a lot of vacant buildings though as the flight to suburbia happened there like everywhere else but a lot of it has been repurposed more recently.
I love visiting Richmond and very nearly made it my home ~15 years ago. Always exciting to see what is going on in their neck of the woods. I’m sure you’ll do well there and I’ll be curious to see your perspective once you’ve settled in.
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3 hours ago, vdogg said:
Don't hold your breath. They might be surveying with the intent to sell (which would be a good thing since they obviously don't plan on doing anything with that property anyway), but if anything were in the works that likely would have been alluded to in the last earnings call. The only thing mentioned was the BBB site.
I doubt they would sell it. Controlling these properties is part of their anticompetitive strategy, as evidenced by the Sears building purchase. But they are indeed actively working on plans for the BB&B site, so that would be my guess or it could just be prep for utility work or something else mundane and unrelated.
Divaris’s marketing seems to indicate the plan for BB&B is similar to what was done with FYE and Barnes and Noble, subdivide the box into smaller spaces. I’m sure it will be successful but it’ll tie that site up for the foreseeable future.
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The Giants control the San Jose market and won’t cede that territory to the A’s, even though the A’s previously ceded it to them. It was one of the areas the A’s considered relocating to.
I agree with 32 teams - at least give it a decent amount of time before expanding any further. I’d rather see 32 with realigned divisions though. Either 4 divisions of 8 teams or 8 with 4.
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4 hours ago, mintscraft56 said:
It's about time. When do they expect to level it completely and begin construction on the site?
From the WAVY article:
- Phase 1: Aviva Pembroke, a senior living community. Located at the corner of Jeanne Street and Constitution Drive. It’s expected to open in the winter of 2024.
- Phase 2: Tempo by Hilton, a hotel. Construction is expected to start in early 2025. The hotel could open late 2026.
- Phase 3: Luxury apartments. The redevelopment is expected to be finished by 2027.
No clear timeline for when phase 3 will start but with a 2027 completion I would say no earlier than late this year but more likely sometime next year. The demo is a complicated one both in size and how much isn’t being demoed so I would expect this stage to take the better part of the rest of the year.
Updated hotel rendering added to the WAVY article:
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13 minutes ago, mintscraft56 said:
Never use the word never. We don't know where Summit Pointe is leading but for the foreseeable future it seems like it's headed to a good place. Your right, no one would have thought to build this or touch this. However thank God for Dollar Tree and their investments, because they took a real big risk here. Dollar Tree is literally building a downtown for the heck of it. They didn't need to but they did. I feel like when this gets big enough, its going to capture the eyes of other companies and developers.
Dollar Tree sees this entire project taking 35 whole years with them expecting to expand greatly. We are watching a downtown being artificially brewed and its working majestically. It's only a matter of time before someone sees this and hops onto the bandwagon. Sooner or later HR might have 3 real downtowns.I’m confident using the word never. Summit Pointe currently has ZERO actual retailers. It’s a mix of restaurants and salon services.
Dollar Tree’s motivation was they needed this type of environment to attract talent/employees. Other developers/investors have taken note and they’re building suburban style developments directly across the street. They’re not buying in.
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VBTC will always reign supreme over Summit Pointe simply because of the fundamentals that backed its development. Summit Pointe wasn’t built on those fundamentals - no investor would have touched this proposal. And it will never attract the unique national tenant mix of VBTC. I’m okay with that and appreciate the local mix that SP has leaned on. They are two very different developments.
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20 minutes ago, varider said:
Northgate Commerce Park has really exploded the past ~5 years starting with Amazon. This particular building is now 50% taller than originally proposed with capacity nearly doubled. Karis also has another facility planned south of Downtown Suffolk.
More details on the Northgate project: https://freezpak.com/2024/03/14/freezpak-logistics-saoud-development-karis-cold-and-lb-realty-advisors-new-location-norfolk-va-port/
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1 hour ago, BFG said:
If Summit Pointe announces an arena somewhere in Greenbrier, I'm gonna lose it...........
City Council just had a presentation for a multipurpose facility at Summit Pointe…for over $300 million. I don’t see that happening. They’ve also thrown around the idea of a hockey arena at Greenbrier Mall but they don’t control any of that site so it’s purely conceptual.
https://www.cityofchesapeake.net/DocumentCenter/View/17331/3-12-24-WS-MASTER
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The City of Chesapeake has contributed significant capital into Summit Pointe, including a share of the initial parking garage and commitments for road improvements beyond the site. I don’t have the exact number as it’s been awhile since I looked into it but it is certainly in the high 8 figures. But compared to VB Town Center, I’m fairly certain Chesapeake’s share of the costs are lower so I agree with you. AH has made it very clear that they have a competitive advantage at Town Center and any new supply they build would be cannibalistic. Competition is needed there badly and their acquisition at Pembroke Square was clearly anticompetitive.
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- Popular Post
- Popular Post
Renderings for the next phase, block 4. AC Hotel with 156 rooms and an apartment building with 125 units and first floor commercial. This will complete this initial blocks of Summit Pointe, other than the restaurant pad between First Watch and Union Taco.
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Hampton Development
in Hampton Roads
Posted
Hampton is considering changes to the Coliseum Central overlay district that would allow 150 foot building heights and eliminate minimum dwelling sizes, maximum densities, and parking minimums.
Coverage from the Virginian Pilot: https://www.pilotonline.com/2024/05/07/hampton-considers-relaxing-some-zoning-requirements-for-developments-in-coliseum-central/