Scott's Addition Development

[whw53]

A rezoning application submitted last week for 2902 AA Blvd would give us the first bit of TOD-1 north of the tracks! This piece of land is owned by Thalhimer - looks like they are positioning it for re-development. Article below came out on BizSense when they purchased this plot bout a year ago now.

https://richmondbizsense.com/2020/01/03/thalhimer-drops-3-7m-for-site-across-from-the-diamond/

 

[eandslee]

Could there be a casino in Scott’s Addition? This article says it might be so.  Just not sure how well-received it would be:

https://richmondbizsense.com/2020/12/14/buyer-may-have-something-big-in-store-for-bow-tie-cinemas-site-in-richmond/

[Icetera]

3 hours ago, eandslee said:

Could there be a casino in Scott’s Addition? This article says it might be so.  Just not sure how well-received it would be:

https://richmondbizsense.com/2020/12/14/buyer-may-have-something-big-in-store-for-bow-tie-cinemas-site-in-richmond/

It would be a great location for it with synergy among other developments and better opportunities for transit (future commuter rail station, I can dream).  I doubt another party could beat out the Pamunkey, though.  Granted, then the Pamunkey can go the federal route and we potentially get two competing casino projects.

[Brent114]

I like the Manchester location better for a casino.  It would have much better visibility and I don’t trust the Fan Association people.  A SA location would probably be a sprawly low rise to appease them. 

I forgot that bow tie owns that lot on Main Street.  I’d love to see them move downtown as part of a mixed use development. 

[whw53]

2 hours ago, Icetera said:

It would be a great location for it with synergy among other developments and better opportunities for transit (future commuter rail station, I can dream).  I doubt another party could beat out the Pamunkey, though.  Granted, then the Pamunkey can go the federal route and we potentially get two competing casino projects.

My thoughts exactly. I am surprised by the amount of push back it's getting on Reddit. 

[Icetera]

55 minutes ago, Brent114 said:

I like the Manchester location better for a casino.  It would have much better visibility and I don’t trust the Fan Association people.  A SA location would probably be a sprawly low rise to appease them. 

I forgot that bow tie owns that lot on Main Street.  I’d love to see them move downtown as part of a mixed use development. 

I absolutely love their current theater and doubt a downtown location could come close to that atmosphere.  I am hoping that this influx of $27 million over what they paid is intended to keep the cinema alive there while they look at other concepts for the downtown lot.  The Scott's Addition location pulls people from the suburbs as well as the city and is great for blending other activities in the area, which likely would be further improved with what ever new developments occur on that property.

[I miss RVA]

2 hours ago, whw53 said:

My thoughts exactly. I am surprised by the amount of push back it's getting on Reddit. 

Somehow, I'm not so surprised about all the Reddit push back. The crowd there is decidedly different than our cast of regulars here. There are a handful of us here who post there - and I think we kinda stand out as the far more progressive (and in many cases informed) posters on there re: Richmond development. Seems there are more 'old-school' Richmonder on that sub-Reddt. Dunno. That they're pushing back honestly doesn't surprise me - in fact, I'd be surprised if we don't see MORE push back from them.

[eandslee]

36 minutes ago, I miss RVA said:

Somehow, I'm not so surprised about all the Reddit push back. The crowd there is decidedly different than our cast of regulars here. There are a handful of us here who post there - and I think we kinda stand out as the far more progressive (and in many cases informed) posters on there re: Richmond development. Seems there are more 'old-school' Richmonder on that sub-Reddt. Dunno. That they're pushing back honestly doesn't surprise me - in fact, I'd be surprised if we don't see MORE push back from them.

I'm actually kind of surprised about the push back on reddit.  From my experience, most of the posters on reddit are very "progressive"...perhaps more social progressive than anything.  I thought they might love the fact that a casino might be considered in SA, but then again, it's really close to the Museum District and the Fan, so some of the posters might be coming from that area of town.

I will agree that we, on this forum, are definitely more informed than most people.  I, for one, do a lot of research on newly announced projects to look at all the details, but most people just read headlines and draw their own conclusions.  It's annoying having to correct people all the time because they didn't bother to read the associated article or look into the details any further.  Unfortunately, it's the headlines that win the day sometimes.  SMH

Edited December 14, 2020 by eandslee

[wrldcoupe4]

5 hours ago, Icetera said:

I doubt another party could beat out the Pamunkey, though.  

How come? 

[Icetera]

28 minutes ago, wrldcoupe4 said:

How come? 

They are the group that really initiated all of this to begin with and have the preparation.  Another group has very little time to play catch-up, though they do have an extra year compared to the other cities.  Meanwhile, you have the factor of an oppressed group where their only proven method of significant funding (without relying on federal aid) is the casino industry versus just some company looking to make a profit.  Which sounds like a better sell?

[Brent114]

Just to be clear, I don’t want the theater to move just for the sake of  moving.   I am comforted by the idea that they own other land in town if they are pushed out of their current location. 
 

I like having Fat Dragon before a movie (and gelato after). 

[wrldcoupe4]

2 hours ago, Icetera said:

They are the group that really initiated all of this to begin with and have the preparation.  Another group has very little time to play catch-up, though they do have an extra year compared to the other cities.  Meanwhile, you have the factor of an oppressed group where their only proven method of significant funding (without relying on federal aid) is the casino industry versus just some company looking to make a profit.  Which sounds like a better sell?

The RFP hasn’t been issued yet, so we have no idea who else is in play. Perhaps there is a much better plan for the city. Perhaps not. That’s all. 

[I miss RVA]

5 hours ago, eandslee said:

I'm actually kind of surprised about the push back on reddit.  From my experience, most of the posters on reddit are very "progressive"...perhaps more social progressive than anything.  I thought they might love the fact that a casino might be considered in SA, but then again, it's really close to the Museum District and the Fan, so some of the posters might be coming from that area of town.

I will agree that we, on this forum, are definitely more informed than most people.  I, for one, do a lot of research on newly announced projects to look at all the details, but most people just read headlines and draw their own conclusions.  It's annoying having to correct people all the time because they didn't bother to read the associated article or look into the details any further.  Unfortunately, it's the headlines that win the day sometimes.  SMH

I agree. I've been floored by the complete lack of actual knowledge about what's planned/not planned for Richmond that some of the posters on reddit espouse. Hearsay, headlines, conjecture - based on .. ??? Facts??? Hardly!!

Dunno - it just boggles my mind. No wonder NIMBYs can hold so much sway (not talking about within government) - when the average joe doesn't know WTF is actually going on in the city or only going on what they "heard" was/wasn't happening.

[vaceltic]

12 hours ago, I miss RVA said:

I agree. I've been floored by the complete lack of actual knowledge about what's planned/not planned for Richmond that some of the posters on reddit espouse. Hearsay, headlines, conjecture - based on .. ??? Facts??? Hardly!!

Dunno - it just boggles my mind. No wonder NIMBYs can hold so much sway (not talking about within government) - when the average joe doesn't know WTF is actually going on in the city or only going on what they "heard" was/wasn't happening.

All I know is that when I played SimCity as a kid, plopping a casino down in a residential area meant high crime and lower property values

#WillWrightFacts lol

[Icetera]

15 hours ago, Brent114 said:

Just to be clear, I don’t want the theater to move just for the sake of  moving.   I am comforted by the idea that they own other land in town if they are pushed out of their current location. 
 

I like having Fat Dragon before a movie (and gelato after). 

Hell yes, Fat Dragon Happy Hour prior is always my routine.

[Icetera]

14 hours ago, wrldcoupe4 said:

The RFP hasn’t been issued yet, so we have no idea who else is in play. Perhaps there is a much better plan for the city. Perhaps not. That’s all. 

Perhaps, but both Norfolk and Richmond are also tied a bit with this clause:

https://lis.virginia.gov/cgi-bin/legp604.exe?201+ful+SB36ER

Quote

E. The eligible host city described in subdivisions A 5 may provide preferred consideration to a proposer who is a Virginia Indian tribe recognized in House Joint Resolution No. 54 (1983) and acknowledged by the Assistant Secretary-Indian Affairs for the U.S. Department of the Interior as an Indian tribe within the meaning of federal law that has the authority to conduct gaming activities as a matter of claimed inherent authority or under the authority of the Indian Gaming Regulatory Act (25 U.S.C. ง 2701 et seq.).

If that RFP happens to lead to MGM being selected, then I will be voting no.  While MGM can probably do something flashier, they spent so much effort trying to block the Pamunkey federal recognition in order to avoid competition and will have no ties to the Richmond area in order to ensure healthy investment.

[rjp212]

On 11/9/2020 at 1:08 PM, I miss RVA said:

Another question re: the Richmond BizSense story: the pentultimate paragraph reads as follows:

Another out-of-town developer is making an even bigger bet than Bonaventure on Scott’s Addition. South Carolina-based Greystar filed plans last fall for 350 apartments at the former Relay Foods warehouse at 1601 Roseneath Road. Work has not yet begun on that project, though last month demolition permits were filed for the site.

Has anything happened with this particular project other than demolition plans filed? No as-of-yet-unpublished site design plan, renderings or descriptions are floating around?

 

Barricades are being installed now. Demolition should be imminent. 

[whw53]

Woohoo! Good recon today folks - 2 new sites we can just about turn to the 'orange'...and its only Monday! Merry Christmas indeed!

 

Edit\Add - 

Just curious for those in real estate - the Relay project, Scott's Collection 2 - these are both being financed utilizing a provision from the 2017 tax bill which set up the Opportunity Zone program. I am not sure whether the Rockett's Block 8 project Icetera discussed today in the Fulton thread is utilizing the capital gains mechanism like these but it could be as that site that too is in a OZ.

With the change of the federal administration is there a sense of rush to go ahead and move forward with some of these projects as the program could be reformed? I know there has been some critique of the program from both sides - the left saying it sets up a haven\giveaway for investors and speeds up gentrification and some on the right\libertarian saying the zones effectively establish an unequal treatment under the law.  

Map of OZ's in VA

https://www.arcgis.com/apps/webappviewer/index.html?id=bf7c530d8e0240c6a911a4b40fb0a357

Edited December 21, 2020 by whw53

[Wahoo 07]

Developer Greystar buys entire block in Scott’s Addition for $8.6M - Richmond BizSense

Article on another mixed use project in SA.  Comprises a whole square block.  

[eandslee]

I think we've known this one was coming, but it is good that this one is definitely moving forward.  I do like the design though.  My only wish would be that it be taller to add more density.

[whw53]

56 minutes ago, Wahoo 07 said:

Developer Greystar buys entire block in Scott’s Addition for $8.6M - Richmond BizSense

Article on another mixed use project in SA.  Comprises a whole square block.  

Yea this is the Relay project @rjp212 reported on yesterday - another confirmation signal that the project will move forward in short order!

[Brent114]

This is exciting to see! 
 

[whw53]

24 minutes ago, Brent114 said:

This is exciting to see! 
 

@Brent114 Any demolition activity visible yet?

[I miss RVA]

VERY exciting to see!!

[Brent114]

I didn’t see any demo today.