HRVA

Pure speculation on my part for my own entertainment. But there is a history.

Address is 400 Waterside Drive. Not the best name but it’ll change as soon as Bonaventure buys it. I’m predicting Attain Downtown South.

I am more familiar with the market in Hampton Roads but I was surprised the projected numbers weren’t higher. Here’s the sold prices from Zillow for the project you mentioned. Seems like they’ll easily be in the range from the article.

Developer can change without a referendum but the Pamunkey’s options on the property always made it unlikely that would happen. They really need to start construction this year. The lottery board won’t issue their license until construction is nearly complete and the license has to be issued within 5 years of the referendum so November 2025 is their deadline.

The apartments will be at the former Mitsubishi site (401 Volvo Pkwy). The project is approved, site is cleared and I believe site work recently began. It’s been discussed in the Chesapeake thread but it is just another suburban apartment complex. As for this article, they like to keep Summit Pointe in the news even when there’s nothing to report on. It’s done well but there is no indication of when the next block will begin construction and comments from real estate industry publications say they are waiting.

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This WHRO article is mostly about redesigning existing parking lots but does briefly mention eliminating parking minimums as a way to encourage retrofitting.

It’ll be immediately west of Pembroke 1 where they’ve already torn down Pembroke 2.

Here’s one of the projects Divaris alluded to awhile back: Former Governor Bob McDonnell pitching hotel concept for Oceanfront Dairy Queen property. “The concept included a 450-room hotel with conference meeting space and a parking garage.” The Pilot didn’t get a copy of the presentation in time for press so look for an update with additional details soon.

These are the tables that stood out to me as I glanced through earlier: Real income is down, nearly 12k people (net) have left our area for other parts of the country, and our 20-34 population is declining, all just in the past few years. All of the other metro areas are outperforming our region in these categories (except NOVA in domestic migration but duh). Points like these should be the focus as they are extremely concerning AND factually accurate. And I agree that our leaders aren’t doing enough. The pandemic, with people able to move wherever with WFH policies, was an opportunity to see our desirability and it’s pretty clear we’re not desirable.

The report from WVEC is factually incorrect. That is all I am pointing out. This forum would be better served by directly linking ODU’s report and discussing it than an inaccurate media report of it. https://ceapodu.com/wp-content/uploads/2023/12/147356-ODU-SoC-WEB.pdf

Misleading report. Certainly reasons to be concerned about our region’s lagging growth but neither our region or state is experiencing population declines and further the state’s growth is on pace with the national average. Source: ODU’s State of the Commonwealth the journalist claims to be reporting on.

Has anyone heard anything about the project a block south of the 36th St one? It was proposed a little more recently but I haven’t seen anything about it in a couple of years.

Press coverage on the status of the casino: Virginian Pilot Virginia Business “Of the 963,000 or so square feet of the planned casino and resort, about half is a parking deck with about 1,200 spaces. Another 45,000 square feet will be the main casino floor (eventually expanded to 65,000 square feet) and restaurants, including a 180-seat sports bar restaurant with 25 seats along a bar, a grab-and-go quick service restaurant, a food hall with three or four restaurant concepts and a steak and seafood restaurant. This would all be elevated — with some of the parking garage underneath, raising parts such as the casino floor — to accommodate views over the planned seawall. The 300-room hotel would have a rooftop pool facing the ballpark where the Triple-A Norfolk Tides baseball team plays and a 10,000 square-foot ballroom with 8,000 square feet of meeting space.“ The Pamunkey say they need to start construction in the spring in order to be open by November 2025, the 5-year anniversary of the referendum and their statutory deadline to obtain their gaming license.

Berkadia and Thalhimer both provide free market reports on their websites. Here’s Thalhimer’s Q3 report. Berkadia reports require some information (name/email/etc) but there are a few reports available there. The pipeline numbers this person states is in line with what Berkadia is reporting and Thalhimer reports an even higher vacancy of 8%. I don’t agree with the amount of doom they have but their data does line up with what is available and their concerns have been widely reported on. But higher vacancy (which the current rate is more of a return to pre-pandemic levels) and increased concessions are good news for renters, who IMO could use a break after the past few years of chaos. TBD how the recent drop in rates with next year’s anticipated cuts by the fed influence development but it will certainly help.

Apartment development approved at former Colonial Downs OTB site. (1909 Commerce Dr) The 5-story project could have up to 382 units but still requires a zoning variance to allow studio units under 500 SF. Unit count will drop to 324 if variance is not granted.

Turned an older suburban shopping center into a decent mixed use district. Other than building out the retail spaces, this project is complete.

This is the final image from the live feed back in August. It’s marked as complete.

Doesn’t look like it’s happening anytime soon if at all. Seems they have tenants for the former Farm Fresh and Rite Aid looking at their marketing flyers. Enson Market and Hub Asian Food Hall.

New proposal for the DePaul site: Anyone have any background on this organization or an indication of the likelihood of this happening? It was shared by Martin Thomas so that provides some legitimacy. Just seems like a massive redevelopment for not a lot of building.

WAVY really botched the Virginia Code section they quoted as it pertains specifically to properties zoned agriculturally, which this property obviously is not. The other other bit of information I found interesting, and is somewhat mentioned with the quote from McClellan is that local leaders were unaware of their interest in the O’Connor property until it was announced. Typically any project that is getting economic development money from the state involves collaboration with the locality. This whole thing feels like a manufactured political minefield. More details from Virginia Mercury.

Martin Thomas will chime in on Reddit from time to time, most recently to correct some misinformation about some proposed changes to the zoning ordinance.

Drone footage from WM Jordan of the site: https://fb.watch/osDOfCUp3n/?mibextid=N7dtgh