HRVA
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Presentation of the design with more renderings and details: HeadWaters Resort and Casino | PDF (scribd.com)
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From their Facebook: The wait is finally over. We are proud to announce that this week we have submitted our Development Certificate Application to the City of Norfolk to move forward with the initial facility of the HeadWaters Resort & Casino. We are eager to bring this much anticipated project to life. More details to come soon! https://www.facebook.com/100066951603918/posts/pfbid02Fg8etuFoatQ4j3GRPbkoCu5QHe1LnZKwascS5Q4hrfLhyeoQ3oorYKbVXkLo7jYYl/
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It appears this is moving forward. Both addresses are included in an agenda item at the July planning meeting.
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Per the Pilot’s monthly openings/closings list: Moxy, a trendy new hotel on 12th Street at the Oceanfront, plans to open June 29.
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Yes, 1 & 2 involved mergers between smaller cities and the remaining surrounding counties but their growth occurred primarily after their incorporations in 1963. The original city of Virginia Beach was essentially just the Oceanfront resort area.
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Permit activity matches up with this. The project is the smaller of the two though. The larger one like Suffolk’s is likely at least a couple of years away.
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Looks like a pretty big economic development announcement got pulled at the last minute yesterday. A $1.5 million grant was to be awarded by the Development Authority with the recipient announced by the Governor before the meeting. Not sure the scale that kind of grant warrants but it’s significantly larger than recent announcements. Hopefully whatever it is, it’s just delayed and not dead.
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The Pilot article is more focused on the apartment rehab while WVEC’s is a better synopsis of the whole speech (no paywall).
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AH Earnings Call Not at all encouraging. They’ve fielded 6 unsolicited calls from retailers for the space and while they mentioned their planned redevelopment, they state they are considering options and Haddad indicated projects in other regions may be better investments. They do have a preference for new to the market retailers, for what it’s worth. I’m extremely pessimistic about redevelopment occurring here at all. I also didn’t see any mention about Block 2 and it seems they’re pretty content where they are now with office in Town Center.
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MacArthur Mall REDEVELOPMENT (Proposed/Planning) City of Norfolk
HRVA replied to carolinaboy's topic in Norfolk
The Virginian Pilot just ran this article about a successful tax appeal appraisal that showed the mall has lost over $100 million in value. The current tax assessment is now lower than the land assessment in 2019 - maybe if Wells Fargo is willing to let go of it for the assessed value we could actually see something happen. -
$125 / $335 million (~37%) according to this article but I’m sure both of those numbers will move up.
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Where is there 250 acres of contiguous land anywhere in Virginia Beach that is used as a parking lot? How many 250 acre sites, developed or undeveloped, are there north of the green line?
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In case you are having withdrawals…
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Interest rates are messing up a lot of projects. Higher construction costs were somewhat offset over the past few years by lower rates and increasing rents but with higher rates and rent stabilizing, the numbers don’t make sense on things that did just last year. I don’t know if that’s what is going on here but it’s certainly happening all over.
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Oh I’m not opposed just wanted to point out potential issues facing the proposal. I would expect the rezoning to be a simple majority vote but the sale of the land I believe is where the supermajority may come into play.
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Absolutely. Filer has stated this as one of the issues with the site, trying to coordinate with multiple moving parts: sea wall, Amtrak & the Tides.
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Holcomb’s comments during the presentation gave me the impression he was opposed. The biggest issue I see is the location in relation to its planned land use in the comp plan. The site appears to be the Agricultural Production area of the ITA Plan that was approved in 2017. That alone should trigger automatic recommendations for denial from the Planning Department & Commission and will put any council member who voted for the plan in a weird spot. The opposition is already citing the conflict with the comp plan.
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The final option runs out in early 2025 and the license would need to be issued by November 2025. So unless the Pamunkey cooperate (or miraculously get up and running) I expect there will need to be another referendum.
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That would only work if the Pamunkey do not exercise their annual options on the site. By the time the options run out, there would need to be another referendum as the last one is only valid for 5 years if the casino doesn’t open.
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Geez potential for 2,000 jobs and $500-$600 million over three phases. Numbers in the article are just phase 1. Sounds like the site is adjacent to the innovation park and in a funky spot of the green line that juts north along Princess Anne Road to Landstown High School. Also in the AICUZ so residential is incompatible. Honestly, with how much talk there is about the importance of site readiness, I’d be surprised if Virginia Beach got this even if they wanted it - lots of hurdles before they can even break ground.
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Seemed relevant to the topic of this thread. Certainly what is known about the current plans is not as exciting as what was once planned but I will hold off final judgment until an actual proposal is presented.
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Bed Bath & Beyond plans to liquidate all inventory and go out of business - CNN They leave the door open to stay in business if someone buys the company, but they are beginning the liquidation process. Let's see how AH responds at the next earnings call (5/9).
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Strong demographics and an institutional owner that can and has reinvested in the property. In general, malls are overbuilt, not dead. Lynnhaven has long been predicted to be the lone survivor on the Southside and that’s clearly how it’s playing out as all others are either closed or dead malls (not counting the outlet mall - that’s arguably a different concept).
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Nice to see some 2 over 2 units being developed. They seem to be popular in Richmond but I haven’t seen it around our area yet. There was another project that’s been discussed here that was on the agenda but got pushed back to Planning. The Commons, which has been approved, is requesting to remove a lot of the first floor commercial spaces in favor of parking. Not terribly surprising considering it’s location across from the Grassfield Walmart but disappointing as the change makes it less mixed-use.
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Between this site and the WAVY article we have a site plan and rendering of the temporary casino but I doubt they’re final based on the little information stated by Filer and some insights by some of the posts here. Not sure that these are consistent though as the rendering appears to be on the water.
