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35-40 story office building proposed for norfolk

brucewayne

By brucewayne
in Norfolk

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vdogg Megalopolis

vdogg

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Based on the low office vacancy rates (<8% for HR, 6.4% for Southside, 11% for downtown submarket), I think we're poised for another office construction boom. As has been reported, Trader Square is all spoken for so it is not adding any new speculative space to downtown. Harbor Heights office space will be used by TCC. AH Tower in TC is essentially filled up. Back in the late 80's, Dominion Tower, NS Tower, and Main Street Tower (this one had financial problems coupled with a recession) all went up. The Snyder lot is just the beginning of this new wave.

In line with what you were saying:

Healthy local office market reflects national scene

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br0guy Whistle-Stop

br0guy

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I guess we need to circle October 11th on the calendar. All the conceptual drawings are suppose to be turned in before the deadline in late September, so hopefully we'll see something when the they announce the winning bid.

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vdogg Megalopolis

vdogg

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I guess we need to circle October 11th on the calendar. All the conceptual drawings are suppose to be turned in before the deadline in late September, so hopefully we'll see something when the they announce the winning bid.

Honestly, I wouldn't count on something being put out till at least December when all agreements are signed. This will be a city involved project so understand that information and renderings will come out at a trickle at best **cough** Hilton **cough** :rolleyes:

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vdogg Megalopolis

vdogg

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Where is this Snyder lot, I'm trying to picture it and cant quite get it...

^^^Below is from a post I made last year.

It's my understanding that the 14-15 story courts building would be built adjacent to the School Admin building. There is some discussion on combining the Courts building with a new City Hall - that would likely increase the proposed height.

norfolkschooladminsite2xa.jpg

The 35-40 story office building would be on the Snyder Lot, which is the parking lot immediately east of the Courtyard by Marriott.

snyderlot0bd.jpg

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urbanlife Town

urbanlife

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The Snyder Lot is a perfect lot for something really big to be built. It sits far enough in land that the ground is a little bit harder and can support more weight. Plus the size of the lot and the large streets that are mostly around it would mean that it could go for pretty tall before it starts to impose on the streetside.

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willy Hamlet

willy

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With the Granby at 34 floors and the Hoffler possibly coming close to that, would a 35-40 story tower still be able to have a "signature tower" label? I'm thinking something in the 600'+ range or possibly 700' to hold that kind of title. What do you guys think?

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vdogg Megalopolis

vdogg

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With the Granby at 34 floors and the Hoffler possibly coming close to that, would a 35-40 story tower still be able to have a "signature tower" label? I'm thinking something in the 600'+ range or possibly 700' to hold that kind of title. What do you guys think?

While height helps, a building does not necessarily have to be the tallest to earn the title of "signature tower" (though it usually ranks pretty high in the height category). Often design trumps height in that category and a building of significant architectural value may claim that title. Granby is a signature tower, I wouldn't necessarily call hoffler one even though it is quite tall. The Chrysler building in New York is a signature tower even though it hasn't been able to claim the title of tallest for many years. I think you'll have both height and quality with this project, though I wouldn't expect 700' just yet. 600' may be a good number to shoot for though (600ft of pure tower, no spire, just nice decorative crown :shades: ).

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lammius Burg

lammius

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I could live with that. Top it off with something similar to the Frost building in Austin or the proposed Sig. Tower in Nashville and I think we'd be happy.

I agree. Norfolk needs something bright and crowny on its skyline. Heaven forbid it be another box, or worse yet, another freakin spire (though Norfolk doesn't have many spires they're certainly an annoying fad in architecture now)

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PeninsulaKiddo Burg

PeninsulaKiddo

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I very much-so agree with the sentiment of 'not another spire-topped tower'. Nevertheless, a pyramid-like top wouldn't be so bad, like the towers of Liberty Place in Philly. Ideally though, I'd love something like the crown of the BOA Building in Charlotte. I think it'd be a great contrast to the horizontal rooflines of the existing towers along the waterfront.

Also... 600ish feet would be remarkable in the skyline of Norfolk. Hopefully something speculative will be announced soon :D (But I won't hold my breath).

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okinawatyphoon Burg

okinawatyphoon

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FYI, after reading the Norfolk Development website, there is NO maximum height for this building. :) There are also renderings of a possible building on the PDF's, but since it is a RPF and they're still waiting for a developer, it is just a concept i'm assuming. It can be hotel, office, or residential.

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hoobo Burg

hoobo

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As mentioned earlier, vacany rates determine the market for new construciton, but the height will be determined by current Class A leasing rates for downtown and construction costs for various building heights. I don't know the intricasies of the calculations but simple microeconomics would say that the building height will be the point at which max profit (long-term leasing revenue - construction cost) occurs. However, since the City owns the lot, it is involved in the development and will push for a taller and more oppulent structure. How tall is max profit and how far off that is from the City's vision: we will have to see. Hopefully max profit dictates a 500'+ structure that Norfolk can push to 600' without it becoming an unprofitable endeavor.

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rusthebuss Metropolis

rusthebuss

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As mentioned earlier, vacany rates determine the market for new construciton, but the height will be determined by current Class A leasing rates for downtown and construction costs for various building heights. I don't know the intricasies of the calculations but simple microeconomics would say that the building height will be the point at which max profit (long-term leasing revenue - construction cost) occurs. However, since the City owns the lot, it is involved in the development and will push for a taller and more oppulent structure. How tall is max profit and how far off that is from the City's vision: we will have to see. Hopefully max profit dictates a 500'+ structure that Norfolk can push to 600' without it becoming an unprofitable endeavor.

It also says it will be mixed zone so this could inch the height up.

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