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Centennial Tower

eandslee

By eandslee
in Richmond

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wrldcoupe4 Metropolitan Area

wrldcoupe4

Posted
Posted

I don't think either of those scenarios are likely. IMO, the hotel portion of this project is the least one to be worried about (not that you should be worried)... anyways, I thought this would feel like good news for this project:

CONDOS STILL HOT Prices of single-family homes are part of the story behind the hot condominium market around Richmond. “We haven’t seen any slowing in the condominium market,” said Ginger Sullivan, Realtor with Hometown Realty, whose company works with a variety of condominium projects including The Links at Virginia Center in Henrico County, The Presidential Court Club and Nolde Bakery condominiums in downtown Richmond, and Bristol Village at Charter Colony in Chesterfield County.

The Centennial Towers is a future project at Fifth and Main streets in Richmond, which will be top-floor condominiums with retail and a hotel below.

“We are averaging two contracts a week in The Links,” said Sullivan, talking about the 288 units that were converted from apartments. The one- to three-bedroom units are priced from $125,000 to $200,000. “There is a need for that price point. In Hanover you can’t get a single-family home for less than $225,000.”

The Presidential near VCU has sold 18 of the 27 units within a year of opening the doors.

“There are no new homes being built in the area,” said Colin Stewart, Realtor with Hometown Realty, who is handling that project. “Our price point starts at $179,000 where most new home construction is $300,000 to $350,000. We also have a lot of transplants here from other larger cities that are used to condominiums in the city.”

from A mid-cycle balance

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Cadeho City

Cadeho

Posted
Posted

I'm going to hold my breath for you Burt...

Do you have to back everything?

At the moment, I don't see a need to be excited about a plan in a city that you know darn well never goes accordingly. I like the project and I have hope for it, but being Richmond will catch up to it. I hope I'm wrong... but it's useless to have wood for a building without building one.

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urbanlife Town

urbanlife

Posted
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I'm going to hold my breath for you Burt...

Do you have to back everything?

At the moment, I don't see a need to be excited about a plan in a city that you know darn well never goes accordingly. I like the project and I have hope for it, but being Richmond will catch up to it. I hope I'm wrong... but it's useless to have wood for a building without building one.

Sounds like you are more upset at the slow growth your city has been on while cities like Baltimore, Atlanta, and Charlotte has grown at a much faster rate.....I actually agree with you, I wish Richmond would of taken bigger chances and marketed itself to these companies before they set on other cities in the mid atlantic.

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Cadeho City

Cadeho

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Sounds like you are more upset at the slow growth your city has been on while cities like Baltimore, Atlanta, and Charlotte has grown at a much faster rate.....I actually agree with you, I wish Richmond would of taken bigger chances and marketed itself to these companies before they set on other cities in the mid atlantic.

No, not at all. The city is doing fine with growth, maybe too fine. It's just I am not welcoming to any and every project that comes along and I feel everyone here does blindly. It's great to see Richmond change and grow, but some of the things that happen aren't necessarily the right things.

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jbjust Burg

jbjust

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Not to play devil's advocate, but why exactly would you like us to have a growth rate like Charlotte, Baltimore, or Atlanta? I moved here from D.C. precisely to get away from the terrible traffic and sprawl and I would rather be in downtown Richmond than Baltimore or Charlotte.

In my opinion, Richmond's growth rate is something to be emulated more than D.C., Atlanta, or Charlotte. Steady gradual growth will give our area the ability to not outgrow our infrastructure. There is nothing about Baltimore I wish to emulate.

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AuLukey Town

AuLukey

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Posted

Not to play devil's advocate, but why exactly would you like us to have a growth rate like Charlotte, Baltimore, or Atlanta? I moved here from D.C. precisely to get away from the terrible traffic and sprawl and I would rather be in downtown Richmond than Baltimore or Charlotte.

In my opinion, Richmond's growth rate is something to be emulated more than D.C., Atlanta, or Charlotte. Steady gradual growth will give our area the ability to not outgrow our infrastructure. There is nothing about Baltimore I wish to emulate.

Being a Florida native and living in Charlotte now, I have to agree. Slow growth is much better for a city as it can much more easily plan things out and take time to make sure that certain growth won't create a negative impact on the metro.

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