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Centennial Tower

eandslee

By eandslee
in Richmond

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bornrichmonder Crossroads

bornrichmonder

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It is interesting that you all mention the Westin in Virginia Beach as being competition for Centennial Towers in terms of height. I happened to run across this bit of information on the KBS Inc. website. http://www.kbsgc.com/flash/ then click on subcontractor bids. As you can see, Westin is obviously going to be building a hotel in the City of Richmond. Is it possible that this might be the "boutique hotel" that Goodstein has been talking about? Or has everyone known about this Westin for a while now and I am just completely off base?

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Richmonopoly
Richmonopoly

I contacted Goodstein about the potential of this being reborn.  The response from Lenny Bayer was:   "No, we are working on another development."  

RVA-Is-The-Best
RVA-Is-The-Best

That's this article from BizSense in 2016. It was linked on the development map under a completed project "The Centennial (Phase 1)". In the description I pasted the excerpt that would match the

wrldcoupe4 Metropolitan Area

wrldcoupe4

Posted
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Hey welcome bornrichmonder... I had heard nothing about a Westin in Richmond. This could possibly be part of what Goodstein has planned. Maybe it has something to do with the West Broad Village project? There is a hotel planned there as well. In any case, this is 'new' news! Thanks for pointing it out!

I wonder if KBS is working on Centennial Towers or not?

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burt Megalopolis

burt

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Posted (edited)

It is interesting that you all mention the Westin in Virginia Beach as being competition for Centennial Towers in terms of height. I happened to run across this bit of information on the KBS Inc. website. http://www.kbsgc.com/flash/ then click on subcontractor bids. As you can see, Westin is obviously going to be building a hotel in the City of Richmond. Is it possible that this might be the "boutique hotel" that Goodstein has been talking about? Or has everyone known about this Westin for a while now and I am just completely off base?

BornRichmonder - Damned if I can find any reference to a Richmond Westin on the KBS website. But I enjoyed looking at the site, anyway. Can you brief me on what they said about a Richmond Westin? Thanks.

Edited by burt
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wrldcoupe4 Metropolitan Area

wrldcoupe4

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He didn't make a mistake as far as what he told us.... There was a subcontractor bid on that page for 'Richmond Westin' though the deadline for the bids was a while back so it's obviously not on their site anymore. I contacted Westin and they said there were not any current plans for a Westin in Richmond though... It's interesting nonetheless. Perhaps there are plans for a Westin as part of a project somewhere, but Westin is not making those intentions public yet?

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eandslee City

eandslee

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Guys...

I don't think we'll be getting a new tallest out of centennial towers. In fact, I'll bet my quarter that it doesn't break 25 stories.

Tis a shame.

Coupe, do you know something that we don't???? You always seem to know the inside information. However, I'm confused because it sounded like the studies they made were optimistic for a taller building or buildings. I wonder what the "deal" is and how do you know what you know? :huh:

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rusthebuss Metropolis

rusthebuss

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Coupe, do you know something that we don't???? You always seem to know the inside information. However, I'm confused because it sounded like the studies they made were optimistic for a taller building or buildings. I wonder what the "deal" is and how do you know what you know? :huh:

probably the rise in construction costs

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wrldcoupe4 Metropolitan Area

wrldcoupe4

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Coupe, do you know something that we don't???? You always seem to know the inside information. However, I'm confused because it sounded like the studies they made were optimistic for a taller building or buildings. I wonder what the "deal" is and how do you know what you know? :huh:

Here's what I think will happen:

The project moves forward, but less ambitious than originally planned. We'll still have 2 new towers, but they'll come in at around 20 stories. From what I've seen, they've reduced the number of condo units by 50, though they may have boosted the number of rooms the hotel will have. What I don't understand is why they don't just build one 40-story tower. I also don't think we will see a drastic change in design from the original rendering...

Two towers is good for density, but it doesn't do much for boosting the height of the skyline if they'll come in as just average height for Richmond.

So what's the deal? I think what it comes down to is the massive number of residential units coming on line in the city (and more specifically downtown and its immediate surrounding neighborhoods). There are thousands coming on the market in a relatively close period of time and there may be some fear of saturation.

Haha and I'm not trying to rain on any parades. There's been a major spurt of residential growth occurring and continuing to occur downtown..the market may need a break soon to catch up. This residential growth will spur more commercial growth and then in turn spur more residential growth. However, it will be interesting to see how much longer we can keep the current pace.

By the way, the downtown Class A office market is extremely healthy and it's possible it could experience growth soon... wish the same could be said about the B and C markets.

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burt Megalopolis

burt

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Posted (edited)

The Style supplement I spoke of above says two 25-story towers. And the rendering looks exactly like the old ones. So, I'm not going to bet my quarter on this one.

An article in yesterday's Style, about Marriott suing the city for trying to assess an area improvement tax says that some local real estate moguls predict that the Richmond condo bubble is about to burst.

Edited by burt
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ric75 Hamlet

ric75

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The Style supplement I spoke of above says two 25-story towers. And the rendering looks exactly like the old ones. So, I'm not going to bet my quarter on this one.

An article in yesterday's Style, about Marriott suing the city for trying to assess an area improvement tax says that some local real estate moguls predict that the Richmond condo bubble is about to burst.

I could see the condo market reaching a plateau but I agree with what coupe says. Once the current condos are filled and commercial growth follows then we'll see another boom. I could just as well see the boom continuing however. There's just so much going on right now it's hard to envision what the city is going to be like 3 years down the road. IMHO, there will be a lot more bustle downtown and much infill will take place along with the big developments that we tend to focus on. Perception is such an important part in the success of commercial and residential developments and with all the changes happening I think even the most fickle and fearful suburbanites will be visiting downtown in a few years. :shok:

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TBurban Town

TBurban

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Perception is such an important part in the success of commercial and residential developments and with all the changes happening I think even the most fickle and fearful suburbanites will be visiting downtown in a few years. :shok:

*cough cough* All of my neighbors *cough cough* :whistling:

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Cadeho City

Cadeho

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*cough cough* All of my neighbors *cough cough* :whistling:

*correction* Anyone in a 8-9 mile radius of you.

Ok certainly not my best photoshop... but here's how I picture the city with new buildings... silhouetted...

squarerichmond.jpg

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vdogg Megalopolis

vdogg

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The markets slowing all over folks, it's just a fact of life. Once these series of projects in Norfolk are finished we likely won't see any new condo towers for quite sometime. Coupe is right though, these cycles are typically inversely related to one another and there is every indication that the office market is about to be red hot. There will be more towers to come. :shades:

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