Scott's Addition Development

[Gexckos]

I think it's just cyclical. In the last year or so The Commodore, Cove, Navigator, and the phase 2 townhouses have all either finished or are about to finish (around 350-400 Units.) To be honest until the Soda Flats, Ace, and Capitol Square started construction Manchester felt like the faster grower of the 2. I'm not an expert but it feels like these brief pauses in development as all the plans are being worked on are naturally going to happen. I'll also add that the Architects for The Sampson site posted a video of their team onsite looking at different brick samples for the facade a couple months ago and Avery Hall posted a picture of a board of all their projects around the same time including the Manchester site. So it's not all coming to a halt even if a few are taking their time.

[I miss RVA]

1 hour ago, 123fakestreet said:

Sometimes I wonder (hope) that the city only has so much bandwidth for large projects, even if it's not the same GC, the subs and equipment rentals need to be available. So as we see one large project (like Soda Flats, or Novel at Scotts) finish up, some of these others can finally start.

Maybe just wishful thinking since it's different subs starting a project vs the subs working to finish a project.

I think you're onto something, and it makes me wonder - just how much bandwidth for large projects DOES RVA actually have?

Reason I raise the question is because I'm 61 and spent roughly 2/3 of my life living in Richmond, including growing up in the River City.  And never - EVER - in ALL of my years have I ever seen THIS MANY projects underway at the same time all over the city and all over the metro. And it's not like it's just a one-off project here or there. It's a flood of projects all across the city and the metro. And it's been ongoing (and actually increasing) for the last five, six, maybe even seven years (or more).

I've said it before and it bears repeating: this is absolutely unprecedented to have THIS level of construction of SO many projects, large and small, all underway more or less simultaneously in a constant stream of development that's been going on year after year after year. Never before has what we're seeing and enjoying now happened in my lifetime - not until now (now encompassing more than just a couple of years).

There are times I am absolutely astonished, particularly because projects keep coming into the pipeline before projects that have been in the pipeline emerge on the other end (meaning, are fully constructed and ready for occupancy). At least as far as RVA goes, I do believe, my friends, that we are witnessing something truly historic happening.

May it continue unabated - and may it only increase - with the passage of time.

Edited April 17 by I miss RVA

[I miss RVA]

@RVABizSenseMike has further reporting about the kerfuffle between the owner of a 51-space surface parking lot and the company currently leasing the lot. The owner does not want to renew the lease when it expires in 2023 because they plan to redevelop the property. The lot is part of the larger swath(s) of property that the development firm owns. The company leasing the lot claims they have the right to lease the lot in perpetuity. A judge has ruled the company has the right to least it through 2040 - which would preclude the property owner from being able to redevelop their property for 16 years.

This whole story is exceptionally annoying to me. A clear case of the tail wagging the dog, and it's frustrating to think that the potential of another outstanding mixed-use or residential development happening in Scott's might get pushed off for another decade and a half. Landlords break leases ALL THE TIME! I've been in situations previously where a landlord was selling an apartment building such that it could be flipped for condos. The landlord told me they were not renewing my lease when it expired. Did I challenge it? NO!! What did I do? I moved.

This is ridiculous to me.

From today's Richmond BizSense:

https://richmondbizsense.com/2024/04/18/hamstrung-by-recent-ruling-scotts-addition-parking-lot-owner-asks-judge-to-reconsider/

[123fakestreet]

9 minutes ago, I miss RVA said:

@RVABizSenseMike has further reporting about the kerfuffle between the owner of a 51-space surface parking lot and the company currently leasing the lot. The owner does not want to renew the lease when it expires in 2023 because they plan to redevelop the property. The lot is part of the larger swath(s) of property that the development firm owns. The company leasing the lot claims they have the right to lease the lot in perpetuity. A judge has ruled the company has the right to least it through 2040 - which would preclude the property owner from being able to redevelop their property for 16 years.

This whole story is exceptionally annoying to me. A clear case of the tail wagging the dog, and it's frustrating to think that the potential of another outstanding mixed-use or residential development happening in Scott's might get pushed off for another decade and a half. Landlords break leases ALL THE TIME! I've been in situations previously where a landlord was selling an apartment building such that it could be flipped for condos. The landlord told me they were not renewing my lease when it expired. Did I challenge it? NO!! What did I do? I moved.

The company leasing the lot just wants a payout and they will probably get one. Don't see the developer sitting on a lot they specifically bought to build on for 16 years. They will settle on some payout amount and the development will move forward.

[I miss RVA]

7 minutes ago, 123fakestreet said:

The company leasing the lot just wants a payout and they will probably get one. Don't see the developer sitting on a lot they specifically bought to build on for 16 years. They will settle on some payout amount and the development will move forward.

Yeah, I had thought that might be the case. From an ethical perspective, I'm not sure I see how they (the company leasing the lot) should be allowed to profit off of this, particularly since the property owner is honoring the current lease and not breaking it early. Seems like a shake-down.

If there's a payout involved, then the owner should be able to kick them out now. Basically "here's your money. Get lost."

[wrldcoupe4]

The company (also a developer) leasing the lot is highly incentivized to have the lease renew because they don’t have enough parking on their site to serve their building (from a market perception perspective - not trying to get into a philosophical discussion about parking in urban neighborhoods). Losing the parking will negatively affect their ability to lease their building. I don’t actually think this is a situation of someone just trying to get a payout. Landlords can decide to not renew a tenant, but not if the tenant has a renewal option(s) they can exercise. Sounds like a poorly worded contract provision that is being argued over in court.  The developer bought the property 6 years ago, so I wouldn’t say they are exactly in a rush. 

[Child2021]

There's a chance that they may be using the hardees lot as a staging area for the outlier project. Another crane going up on the blvd.

[I miss RVA]

On 4/18/2024 at 9:15 AM, I miss RVA said:

@RVABizSenseMike has further reporting about the kerfuffle between the owner of a 51-space surface parking lot and the company currently leasing the lot. The owner does not want to renew the lease when it expires in 2023 because they plan to redevelop the property. The lot is part of the larger swath(s) of property that the development firm owns. The company leasing the lot claims they have the right to lease the lot in perpetuity. A judge has ruled the company has the right to least it through 2040 - which would preclude the property owner from being able to redevelop their property for 16 years.

This whole story is exceptionally annoying to me. A clear case of the tail wagging the dog, and it's frustrating to think that the potential of another outstanding mixed-use or residential development happening in Scott's might get pushed off for another decade and a half. Landlords break leases ALL THE TIME! I've been in situations previously where a landlord was selling an apartment building such that it could be flipped for condos. The landlord told me they were not renewing my lease when it expired. Did I challenge it? NO!! What did I do? I moved.

This is ridiculous to me.

From today's Richmond BizSense:

https://richmondbizsense.com/2024/04/18/hamstrung-by-recent-ruling-scotts-addition-parking-lot-owner-asks-judge-to-reconsider/

UPDATE

@RVABizSenseMike has reporting in today's RBS that Dalian has filed with the Virginia Court of Appeals. No date has been set yet for a hearing. The district court declined to reconsider its ruling.

I guess all we can do is stay tuned.

From today's Richmond BizSense:

https://richmondbizsense.com/2024/05/02/scotts-addition-parking-lot-dispute-heads-to-appeals-court/

[rjp212]

I went over to Cane's earlier, and the construction on AA is outstanding!   Novel is topped out, The Ace is on its third level, The Outlier has gone vertical, and the Hardee's is ready for demo.  That corridor is going to be unrecognizable in a year or two.

Edited May 4 by rjp212

[I miss RVA]

5 hours ago, rjp212 said:

I went over to Cane's earlier, and the construction on AA is outstanding!   Novel is topped out, The Ace is on its third level, The Outlier has gone vertical, and the Hardee's is ready for demo.  That corridor is going to be unrecognizable in a year or two.

%

Man - just imagine with all the current buildings rising, once the Hardee's it taken down and Shamin builds that sweet-looking AC Hotel. Wow... at12 stories, it will really have prominence there, and along with all of the other development, Arthur Ashe, as you said, will be completely unrecognizable. Just amazing to see all of this unfolding.

[123fakestreet]

On 5/4/2024 at 2:51 PM, rjp212 said:

I went over to Cane's earlier, and the construction on AA is outstanding!   Novel is topped out, The Ace is on its third level, The Outlier has gone vertical, and the Hardee's is ready for demo.  That corridor is going to be unrecognizable in a year or two.

That Canes is nice and well managed. The Chipotle next to it is absolute garbage. 

[I miss RVA]

Okay guys - put on your speculation construction hard hats for a second: based on this base (no pun intended) - what do we anticipate crane-wise here for the Outlier? A baby tower crane like the one used to build the Novel up the street? The base looks pretty small for an actual big boom crane.

What do y'all think?

Edited May 7 by I miss RVA

[wrldcoupe4]

Looks like a baby from the Starbucks drive thru 

[I miss RVA]

56 minutes ago, wrldcoupe4 said:

Looks like a baby from the Starbucks drive thru 

By chance, is the crane up yet? I didn't see anything noticeable on the Cap Square construction cam at the N. Chasen development. The cam is pointed in the direction of both the Ace and the Outlier sites, but I haven't noticed anything.

Edited May 7 by I miss RVA

[Child2021]

no

[Shakman]

If the base has been recently poured, the crane will not assembled until the concrete reaches the desired strength.  This looks likes a full size tower crane since there is a ladder in the center of the base section.

[I miss RVA]

I know I'm being VERY greedy here - but man, I'm chomping at the bit to have THREE cranes for three different projects -- all within relatively close proximity to each other -- up at the same time. Can you imagine the visual? Wow...

[Child2021]

Red crawler crane present at the construction site by Carytown.

[eandslee]

19 minutes ago, Child2021 said:

Red crawler crane present at the construction site by Carytown.

I’m wracking my brain trying to remember which project this is….

[wrldcoupe4]

Grove and Thompson 

[I miss RVA]

I was wondering if a crane of some sort was going to pop up there.

Any chance for a few   ??

[Flood Zone]

11 hours ago, I miss RVA said:

I was wondering if a crane of some sort was going to pop up there.

Drive by it every day. Maybe I'll pop a shot.

That construction area is a real annoyance, by the way.

[Child2021]

The Outlier site construction has effectively slowed to none, as it seems like nothing has progressed on the site this week. 

[I miss RVA]

2 hours ago, Child2021 said:

The Outlier site construction has effectively slowed to none, as it seems like nothing has progressed on the site this week. 

Have the concrete vertical supports all been poured? Or are a lot of them still just the frames?

[blake_p]

The Ace

The Outlier

N. Chasen & Son (Clay St.)

N. Chase & Son (Marshall & Altamont)

 

Soda Flats