HRVA

I would suggest checking out the property on Norfolk AIR and using the zoning links there for answers (Note: address is 439 Granby St). My brief review of both D-MU zoning district and the Downtown Historic overlay district gives me the impression that this will need the full gambit of approvals. It seems like it would exceed the FAR maximum for D-MU and probably doesn’t check the boxes in the overlay (specifically regarding compatibility). I love the unique design and hope it happens but not optimistic that it gets through without getting butchered by the approval process.

I know with the Chesapeake outpatient clinic (which is what is being proposed here), the bids required the developer to have a site so there were at least two different sites in Chesapeake and at least another in Virginia Beach being considered. Until the VA awards the contract there are likely multiple sites being considered with each taking whatever steps are required to obtain approvals.

5 stories along Volvo and 3 stories behind. https://www.cityofchesapeake.net/DocumentCenter/View/8880/Updated-H

So there’s the strip center that is completed that BFG mentioned but on the other side of the storage facility, at Volvo/Crossways that has been cleared is a 700-unit apartment project. There’s a chance it could be 400 units with the portion closest to the railroad a grocery-anchored retail center (developer has been linked to Publix on another project so I’d give it 50/50). But other than the buildings fronting Volvo, it’s a suburban apartment complex. Planning was able to get the developer to give a more urban feel to the front buildings to somewhat complement Summit Pointe.

Time to switch this to dead/canceled or at least comprehensively modified. Haddad states they will not be expanding multifamily at Town Center and will expand and retenant BB&B. Regal will remain but they leave the door open to a retail oriented redevelopment as a phase 2 for the right opportunity. They cite their control of the existing market as a reason not to add apartments. Further, while their office space remains 99%+, they are aiming to get space back from downsizing tenants to accommodate prospects. They moved some of their own space within TC to do as much. He says an anchor tenant at a higher rent then the current market is required for a new office tower. Q2 Earnings Call

Yes, it’s part of the parcel 316 is on.

The deep building is 318 W Broad. 316 is the tiny building to the right and includes the parking to the far right. They’d need a full buildout of the lot with at least three stories to even touch the low end of 11-50 units.

It mentions the VA would lease the property, so presumably a developer will own the land/building as an income producing property and thus it would be taxable.

https://www.pilotonline.com/2023/08/09/lego-store-coming-to-virginia-beach-town-center/ Great pickup for Town Center - Lego store to open this fall.

I think Headwaters happens but the opening will be a buzzer beater in late 2025 with the hotel opening in 2026. Not sure I blame the Pamunkey completely on the delays. It is clear that the city gave them conflicting information (probably part of why Filer is gone) and have other projects in the area that needed to be considered (flood wall/Amtrak/Tides lease extension).

The local paper has been gutted that’s why these projects aren’t being covered…not enough reporters to write the stories. And Gateway ain’t happening. For every tower that is built, there’s many more that are proposed/announced that don’t ever get built. It is what it is.

Whoosh… It is confirmation that the project is dead but we all already knew it was dead.

You may be thinking of 555 E Main? I scratched my head when they bought that one. 500 E Plume is across from MacArthur Center and the MacArthur Memorial.

Great read. Too often articles throw out the prospects of office conversions without digging into the details. On a related note: Monument purchased 500 E Plume last month. No details but it’s obviously headed for conversion to apartments. Seems like these deals are increasingly going by unnoticed by the local press.

Three of the outparcels have been demoed. -China Garden -Piccadilly -the strip center next to Piccadilly Courtesy of East Coast Demolition:

Kinda surprised they didn’t mention how much the sports center impacted the convention center. I’m sure the events it lost once the sports center opened are big hotel room generators. I am glad they (kind of) mentioned the Capstone project but wish it was referenced by name rather than glossing over it. Also wish they discussed the results of the sports center audit, which is mentioned but once again just glossed over. Curious what the convention center’s numbers looked like pre-pandemic and pre-sports center - really a one-two punch to their figures.

Norfolk casino developer details plans to Architectural Review Board Based on the timeline, the full project could be completed by the end of 2025. I don't expect that. That's an aggressive timeline especially with the phasing.

Didn’t read the WTKR article but the WAVY article leads you to believe it’s the first step of closing the location. Unofficial plans are to close the top two floors with WAVY’s go to retail expert saying that’s common for them before closing. Another unnamed source from the city saying the city and Dillards are negotiating a sale. https://www.wavy.com/news/local-news/norfolk/dillards-at-macarthur-center-to-convert-to-clearance-center/

Yup, very suburban but frankly appropriate for this location. It’s tucked back by the interstate and a bunch of older, suburban apartments. I imagine upzoning it wasn’t on the table either considering its proximity to Oceana. They’re developing it to the maximum allowed under the existing zoning.

Guess they didn’t see the foreseeable…

This is my thinking. They certainly deserve some kind of incentive but I doubt they go elsewhere over $3 million when they already spent $12 million on a building. Sure they could sell it but it would have to be another owner occupant as no investor is going to pay what they did for an empty suburban office building in this market. Don’t fault ZIM for this. It’s on however these grants are calculated.

The SunTrust building has been fenced off and demo equipment is onsite.

Virginia Beach had a matching grant as well. So roughly $3 million total when half the jobs are already in the region and the other half would likely of come anyways based on the company’s actions (buying the building 6 months ago). Good to see jobs being created but the grants deserve some scrutiny in this scenario.

According to the directory online, Aunt Dorian’s, Sakura, Sbarro, and Johnny Rockets.

The ZIM deal appears to be the economic development announcement that was delayed. Disappointed it wasn’t more significant especially since the company more or less already announced their expansion when they bought their building last year.