Norfolk Development 2

[Sky06]

It represents a positive change in land use for the north side of Brambleton.

That's the key.

[Sky06]

I saw a commericial on channel 3 today for the Franklin project. The interiors were very impressive. Apparently, the floor plans will be fairly open as well. It showed the link to the web site, although the site still is under construction.

[spiker3]

I saw a commericial on channel 3 today for the Franklin project. The interiors were very impressive. Apparently, the floor plans will be fairly open as well. It showed the link to the web site, although the site still is under construction.

That wasn't the actual interiors, those were generic. If they actually put those in the building i will be impressed, whenever this project finishes. But anyone can put together a staged picture, which those were. As far as floor plans go, for $500K+ they need to be 1500 sq feet or more to compete, which i think this building will be hard pressed to fit 22 units of that size. This project doesn't have the same high profile as GT or HH, so there's not much publicity, but they're not helping with a web site under development for 6+ months now. I'd be curious to see how lackluster sales have been for this project as well.

[vdogg]

That wasn't the actual interiors, those were generic. If they actually put those in the building i will be impressed, whenever this project finishes. But anyone can put together a staged picture, which those were. As far as floor plans go, for $500K+ they need to be 1500 sq feet or more to compete, which i think this building will be hard pressed to fit 22 units of that size. This project doesn't have the same high profile as GT or HH, so there's not much publicity, but they're not helping with a web site under development for 6+ months now. I'd be curious to see how lackluster sales have been for this project as well.

Yeah, I can't imagine a rush to buy one of these. GT is sort of a different market (highrise living) so lets use a more apples to apples comparison, 388 Boush. When I compare this project to 388 it seems inferior on almost every single point. Poor design, smaller units, more expensive units. I wonder if any of those condos were put under contract prior to renovation starting.

[Glassoul]

Yeah, I can't imagine a rush to buy one of these. GT is sort of a different market (highrise living) so lets use a more apples to apples comparison, 388 Boush. When I compare this project to 388 it seems inferior on almost every single point. Poor design, smaller units, more expensive units. I wonder if any of those condos were put under contract prior to renovation starting.

You've seen the interior layouts for this building? I think it could appeal to high-end buyers who don't want to live in a high rise. When my wife and I were first dating, she used to live on the 22nd floor of a 36 storey apartment building and hated it; but doesn't mind a 3-4 storey building, which is what were in now (4 floors).

Edited February 19, 2007 by Glassoul

[spiker3]

You've seen the interior layouts for this building? I think it could appeal to high-end buyers who don't want to live in a high rise. When my wife and I were first dating, she used to live on the 22nd floor of a 36 storey apartment building and hated it; but doesn't mind a 3-4 storey building, which is what were in now (4 floors).

Is your unit fronting one of the busiest streets in the area? The interiors were just generic pictures on the commercial, and floor plans are still hard to come by, months after renovation started on this project. I think 388 Boush would even be a stretch, simply because it's a lower income bracket, i can't really think of any project in the area that this might compare do. Unfortunately for the developer, he signed his papers in the midst of the boom, and by the time Social Services got moved and situated and defacing began, the boom was over, and we're starting to tilt into heavier supply than demand. Add in the location (i agree that above Brambleton is key, but the location is more of a inconvienence than luxury) parking lot and street views from a low rise, i dunno, just doesn't exactly wow me, especially for units that are priced in the $400-$500K range (per the original announcement article in the pilot) For 400K, 500K you could have a lower floor on the GT, a very large unit in HH, a large unit in the Rotunda, etc. I do understand your point though Glass, with all these mid rises and high rises, there's not many low rises for luxury buyers. Based on the project time already on this, i think the developer probably would have been better off demolishing the lot and building a new building; it's not a historical building and doesn't qualify for tax abatment.

[gosscj]

I do understand your point though Glass, with all these mid rises and high rises, there's not many low rises for luxury buyers.

Don't forget all the apartments/condos above retail on Granby and the recently renovated warehouse on Monticello. Those are much cheaper (I think) and are in a much better location.

[mikeas]

Is your unit fronting one of the busiest streets in the area? The interiors were just generic pictures on the commercial, and floor plans are still hard to come by, months after renovation started on this project. I think 388 Boush would even be a stretch, simply because it's a lower income bracket, i can't really think of any project in the area that this might compare do. Unfortunately for the developer, he signed his papers in the midst of the boom, and by the time Social Services got moved and situated and defacing began, the boom was over, and we're starting to tilt into heavier supply than demand. Add in the location (i agree that above Brambleton is key, but the location is more of a inconvienence than luxury) parking lot and street views from a low rise, i dunno, just doesn't exactly wow me, especially for units that are priced in the $400-$500K range (per the original announcement article in the pilot) For 400K, 500K you could have a lower floor on the GT, a very large unit in HH, a large unit in the Rotunda, etc. I do understand your point though Glass, with all these mid rises and high rises, there's not many low rises for luxury buyers. Based on the project time already on this, i think the developer probably would have been better off demolishing the lot and building a new building; it's not a historical building and doesn't qualify for tax abatment.

If I were the developer I would have used this building for office space, however you have to admit if this place sits empty it will still look 10 times better than before.

[vdogg]

I have no idea what this entails so don't get too excited yet. This project is going before the planning commission on Wednesday. At first it looked like it might be in the Ghent section but google is putting it somewhere else. The closest address could find was 4199.

4233 Llewellyn, River House Apartments; new construction (preliminary review)

[rusthebuss]

I have no idea what this entails so don't get too excited yet. This project is going before the planning commission on Wednesday. At first it looked like it might be in the Ghent section but google is putting it somewhere else. The closest address could find was 4199.

4233 Llewellyn, River House Apartments; new construction (preliminary review)

Thats no way near Ghent. Thats across from hotel that Levins bought in riverview.

[okinawatyphoon]

The Norfolk Development site has been slightly updated again. I think most of the information is already known, but there may be a new tidbit or two in there.

[vdogg]

Bill could put NHRA out of business

If a bill passed by the House Courts of Justice Committee on Monday becomes law, the Norfolk Redevelopment and Housing Authority would be put out of business, and the authority's efforts to redevelop Wards Corner in Norfolk would end. That's the view of James Gehman of the Norfolk authority, who watched the committee vote 14-6 to approve SB781 after an extended debate.

"We would no longer be a redevelopment authority," Gehman said, if the bill is approved.

[Sky06]

Don't you love how the Virginian Pilot always makes things sound as if they are specific to HR only? What about the redevelopment organizations in other cities? It's as if the paper is telling everyone only we are affected. Poor journalism, if you ask me. I just needed to vent.

Edited February 20, 2007 by Sky06

[wrldcoupe4]

I haven't heard anything about this affecting the RRHA.

[Padman]

You really have to go deep into the article to get a sense of the liklihood of this bill's passage--which is almost nil. Bad paper! Bad bad bad bad bad Paper! (swats the paper with the paper).

[vdogg]

State agrees to turn over land to Norfolk property owners

The legislation has broad implications because many other owners of waterfront property could find they have similar clouds on their land deeds.

The Norfolk property owners, including Virginia Beach developer Wayne McLeskey, would be charged a nominal fee for the land, recognizing that they have paid real estate taxes for years.

It may not sound like much but it is big news because it clears the way for some major development in the Fort Norfolk area. When I find the original insidebiz article I'll post it here.

[vdogg]

^^^^57 pages and three threads later ( ) I have finally found the article.

Grant buys land for Norfolk development

Rod Woolard is about to make another deal.

The former CEO of Island Creek Coal Co. who heads Norfolk

[Sky06]

I wonder where we stand now that the title issue has been cleared up. You know how Norfolk is always hush-hush about things.

I don't care as long as there are some positive development projects on the horizon. I have to believe that developers feel they can not only finance but also sell condos on the waterfront. Maybe we can even get that 30-story hotel. A bit away from the CBD, but with good facilities and restaurants, who cares?

Edited February 21, 2007 by vdogg
fixed quotes

[rusthebuss]

I really doubt we will see anything much taller than Harbors edge at Ft. Norfolk . I just hope that it has nice and dense.

[vdogg]

I really doubt we will see anything much taller than Harbors edge at Ft. Norfolk . I just hope that it has nice and dense.

Me too, but as long as it turns out looking like this pic, I'm ok with no height.

[Sky06]

Me too, but as long as it turns out looking like this pic, I'm ok with no height.

Absolutely. Hell, that would look great for the Quad too.

Edited February 21, 2007 by Sky06

[gosscj]

I agree the concept in that rendering would be absolutely ideal. Unfortunately, Fort Norfolk Plaza isn't exactly a promising step in that direction.

[spiker3]

Absolutely. Hell, that would look great for the Quad too.

You guys aren't visualizing the upscale prison with waterfront views in that picture though

[vdogg]

You guys aren't visualizing the upscale prison with waterfront views in that picture though

Yes I am, it's just hidden behind the Harbors Edge like builing in this pic.

[wghent]

Thats no way near Ghent. Thats across from hotel that Levins bought in riverview.

That IS the hotel that Levin bought - the old bubble gum pink hotel. One of the orginial plans when Decker was involved was condos, apartments, and a marina. Be interesting to see what it has morphed into. That was the secion of Llewellyn that someone (insert name of well-connected developer here) got the city council to close to traffic in order to force the Indian gent who owned the hotel to sell it. There was a scandal about it and it never came off, so they had to wait for the gent to sell the thing.