Scott's Addition Development

[Icetera]

28 minutes ago, I miss RVA said:

An interesting conversion project in the eastern portion of Scott's Addition on the Movieland at Boulevard Square campus: Bow Tie Cinemas is converting the small Criterion Cinemas building on the eastern end of the property into retail and restaurant space. Who will occupy that space is to be determined. Really good idea - providing a mix of uses in an area that is exploding with residential development  to the south, southwest and east - and sits just across the rail line from the burgeoning Diamond District.

And talk about potential ready-made clientele - the gorgeous (and I do mean GORGEOUS) Level 2 building slated to rise at Arthur Ashe Boulevard and Leigh Street is merely a pitching-wedge away from this location (admittedly across a rather large parking lot, but still - it's not far away at all). I love the idea of mixing it up here on this campus, what with all the residential development popping around it.

From today's RIchmond BIzSense:

https://richmondbizsense.com/2023/05/09/criterion-cinemas-at-movieland-to-be-converted-into-restaurant-retail-space/

 

 

I am curious to see how this one goes considering the original goal was for a restaurant space there.  The Criterion seemingly only came about as they never found an occupant.

[rjp212]

Talk about overkill on parking minimums. 

[I miss RVA]

51 minutes ago, rjp212 said:

Talk about overkill on parking minimums. 

Ain't THAT the truth!

Though, in fairness, some of that property (I think on the eastern side?) has been purchased by developers and could be redeveloped into something more consistent with recent construction trends in Greater Scott's - meaning - an apartment building (or buildings). Here's hoping!

[Rooster]

I hope they actually do the planned pedestrian bridge from there to the Diamond district

[Icetera]

1 hour ago, Rooster said:

I hope they actually do the planned pedestrian bridge from there to the Diamond district

That was one for the city's requirements so I would certainly hope so.

[I miss RVA]

@RVABizSenseMikehas an outstanding report in today's RBS. Capital Square has broken ground on the massive redevelopment of the N. Chasen & Son and adjacent properties. There are a couple of FANTASIC takeaways in the article that are impactful regarding RVA's growth and continued development. Adam Stifel, Capital Square's exec VP of development, is VERY bullish on Richmond in general and Scott's Addition in particular. He dropped a few dimes that portend VERY well for RVA going forward.

Stifel indicated that Cap Square's other projects, nearing completion in Scott's, are leasing up quickly - a testament to RVA's rapid rate of apartment absorption - with half of the new arrivals coming from NOVA. And, Stifel said the spigot of in-migration to Richmond from other markets appears to remain wide open. Mike wrote:

“We just haven’t seen a slowdown in the amount of people moving to this area,” he said. 

What's more, the uncertain economy and rising interest rates in no way has slowed the timetable of this project -- it's on track and proceeding without delay -- in large part by the quick absorption in Scott's and -- more importantly, said Stipel, "how many people are moving to Richmond."

That, friends, is VERY encouraging!

BUT WAIT - THERE'S MORE!!!

Stipel dropped a HUGE golden nugget that should have ALL of us drooling like Pavlov's dog waiting to find out what's behind Door #3!

From Mike's reporting:

As work gets going on the Chasen site, Stifel said that Capital Square has another deal lined up in the neighborhood, but that he couldn’t divulge further details. 

“I think we’ve got plenty of runway in Scott’s Addition … I think we’ve got a couple more in us,” Stifel said. “We’ve got (the Chasen project) and another large one that we’re not ready to announce yet. Those’ll be the last two big ones in Scott’s Addition for the time being.”

Holy moly - another LARGE project in the works for Scott's? If you remember, when Scott's Collection was first announced, it originally included an 11-story apartment building in the TOD-1 zoned section close to Arthur Ashe Boulevard. That building was scuttled in favor of a 5-story building. IS IT POSSIBLE that Cap Square may, in fact, still have something with some height on the drawing boards? Just throwing that thought out there.

From today's Richmond BizSense:

https://richmondbizsense.com/2023/05/15/capital-square-breaks-ground-on-latest-3-building-apartment-project-in-scotts-addition/

Edited May 15, 2023 by I miss RVA

[wrldcoupe4]

Capital Square* 

Capital City is the developer for the Commodore.

Capital City Partners is the developer in the dead VCU project.

 

Edited May 15, 2023 by wrldcoupe4

[I miss RVA]

53 minutes ago, wrldcoupe4 said:

Capital Square* 

Capital City is the developer for the Commodore.

Capital City Partners is the developer in the dead VCU project.

 

Thanks, Coupe. Fixed it in my post.

Dunno why I drifted over from "Square" to "City" - aside from the fact that my damn brain switched off!

Man - we could use a scorecard to keep track of all these "Capital _____________" developers. (CS, CC, CCP - wow, all we need now is "CCCP" and we'd have the Soviet national hockey team!)  Either way, thanks for the clarification on the three specific developers, Coupe - it gets downright confusing sometimes!

Edited May 15, 2023 by I miss RVA

[wrldcoupe4]

They all start to sound the same after a while. 

[I miss RVA]

Just now, wrldcoupe4 said:

They all start to sound the same after a while. 

 !!

[ancientcarpenter]

https://richmondbizsense.com/2023/05/18/owner-of-handcraft-building-in-scotts-addition-looks-to-similar-project-in-westwood-area/

 

Honestly, pretty lame development for that big of a space to stay as "cool" office space. Density would have been great here.

[I miss RVA]

27 minutes ago, ancientcarpenter said:

https://richmondbizsense.com/2023/05/18/owner-of-handcraft-building-in-scotts-addition-looks-to-similar-project-in-westwood-area/

 

Honestly, pretty lame development for that big of a space to stay as "cool" office space. Density would have been great here.

 agreed!!! 

I'm really disappointed that there's no density coming there. What's interesting - one of the commenters in RBS pointed out that this property is only partially in the county - apparently the city/county line splits even the building itself - can that be true (that the building is actually straddling the border?) - and if so, how does that impact property taxes, utility services, etc.?

Can you literally (potentially, anyway) walk across the hallway from your office to your coworker's office and, in doing so, walk from the city to the county (or vice versa)?  

Edited May 18, 2023 by I miss RVA

[I miss RVA]

1 hour ago, I miss RVA said:

 agreed!!! 

I'm really disappointed that there's no density coming there. What's interesting - one of the commenters in RBS pointed out that this property is only partially in the county - apparently the city/county line splits even the building itself - can that be true (that the building is actually straddling the border?) - and if so, how does that impact property taxes, utility services, etc.?

Can you literally (potentially, anyway) walk across the hallway from your office to your coworker's office and, in doing so, walk from the city to the county (or vice versa)?  

Imagine how it would've been wayyy back the day when interjurisdictional phone calls were considered "long distance" - calling your coworker across the hall from your office would technically be a "long-distance" call from a billing standpoint! 

Edited May 18, 2023 by I miss RVA

[Flood Zone]

For residential at least, there are many properties that straddle the Richmond/Henrico line. In those cases, taxes are prorated based on how much is straddled where.

[I miss RVA]

26 minutes ago, Flood Zone said:

For residential at least, there are many properties that straddle the Richmond/Henrico line. In those cases, taxes are prorated based on how much is straddled where.

Good to know. Follow-up: is that based on sq footage of LAND or of the physical structure or both?

[skinsfan]

This can easily be a more temporary solution until the time is right to further develop the property.  Let’s hope so!

[Flood Zone]

23 hours ago, I miss RVA said:

Good to know. Follow-up: is that based on sq footage of LAND or of the physical structure or both?

Lot size, I believe.

[I miss RVA]

59 minutes ago, Flood Zone said:

Lot size, I believe.

Gotcha. Thanks!

Wonder what would happen if you had the unusual situation of a property straddling the city-county line where 2/3 of the lot was in the city but 2/3 of the building on the property was in the county? While it may sound humorous, I'm actually asking earnestly out of curiosity as a layman.

Edited May 19, 2023 by I miss RVA

[whw53]

Chasen demo and Soda Flats from the alley opposite sheppard

[I miss RVA]

14 hours ago, whw53 said:

Chasen demo and Soda Flats from the alley opposite sheppard

@whw53I do believe you are in line for some silver hardware, my friend.  I need to track down our official RVA/UP Engraver to get some port-a-potty trophies engraved - I have a backlog of awards due for distribution.

Edited May 24, 2023 by I miss RVA

[Hike]

5 hours ago, I miss RVA said:

@whw53I do believe you are in line for some silver hardware, my friend.  I need to track down our official RVA/UP Engraver to get some port-a-potty trophies engraved - I have a backlog of awards due for distribution.

I’m still here lurking, just been too busy of late and tired really…. My wife and I are volunteering quite a bit up in the Shenandoah National Park doing trail maintenance on the AT,  lately that’s weed eating.  It’s rewarding but makes us pretty tired at the end of day! I’m not going to have a lot of time, energy for a while, hopefully you can get these submitted in my absence. In the mean time, thanks everyone for continuing to update us on everything going on back home!  

Edited May 24, 2023 by Hike

[Child2021]

[wrldcoupe4]

I did the same today.  Different angle. 
 

[I miss RVA]

11 minutes ago, wrldcoupe4 said:

I did the same today.  Different angle. 
 

This one took a while to come up out of the ground, but now it's rolling along pretty well.

[I miss RVA]

Local mobile coffee company Parousia Coffee is opening an 850-square-foot cafe in the new VIV apartment building at 2900 W. Clay Street in Scott's Addition. According to Jack Jacobs' reporting in today's RBS, Parousia is planning a fall opening. The new coffee shop will be located next door to CoreFitness RVA gym in the VIV building.  Parousia has been in business since 2021 and has operated out of a mobile trailer since 2022.

From today's Richmond BizSense:

https://richmondbizsense.com/2023/06/05/coffee-company-picks-scotts-addition-for-first-brick-and-mortar-cafe/

 

Edited June 6, 2023 by I miss RVA