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City Walk

vdogg

By vdogg
in Virginia Beach

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mistermetaj Hamlet

mistermetaj

Posted
Posted

Then again take this with a grain of salt, as I am still waiting for Harry's predictions of a Hard Rock five-star hotel and an urban movie cinema to be announced.....

Originally the Aloft on block 9 was supposed to be a sunrise cinemas I think. That was years ago though.

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urbanlife Town

urbanlife

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Originally the Aloft on block 9 was supposed to be a sunrise cinemas I think. That was years ago though.

I would like to see them do a new urban movie theater to that area because it would give them a reason to tear down the one on Columbus, and it would also give the mall another reason to redevelop their property...speaking of which, do they even still have their theater in the mall? It was crappy back in the 90's, I cant imagine it is any better.

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HarryVB Whistle-Stop

HarryVB

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Yeah they are working on gutting the current buildings out. The bank will not finance new structures because of the economic downturn we are in. And because citywalk is still on the drawing boards and waiting to be financed. Its too much of a risk. Its going to be a refaced modern art decor landstown commons until citywalk starts.

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HarryVB Whistle-Stop

HarryVB

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As you can see. Citywalk is not dead.. Just like phase IV of town center is not dead. It just takes awhile to get financing. the last update on this site was Jan 21, 2009. Not even a year yet.. the information on citywalk is as follows.

US.gifVIRGINIA BEACH CITY WALK We are in need of Pre-Construction Soft and Hard Cost Analysis/Cost estimate of 12.6 acres of Mixed Use/Commercial/Retail/Luxury Apts/Office/hotel/Residential. We need seed money to begin project, REQUIRED AMOUNT: $850,000,000

MINIMUM INVESTMENT AMOUNT: $355,000

REGION: Out-of-State

INDUSTRY 1: Real Estate

INDUSTRY 1: Construction

INVESTMENT REASON: Sales & Marketing

PREMIUM PROPOSAL: No

POSTED: January 21, 2009

Citywalk Project

Remember last information on Phase IV for town center.. the city council presentation was December 8, 2008. So I dont believe the citywalk project is dead. I think its just waiting to be financed!..Just at the right time!

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vdogg Megalopolis

vdogg

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As you can see. Citywalk is not dead.. Just like phase IV of town center is not dead. It just takes awhile to get financing. the last update on this site was Jan 21, 2009. Not even a year yet.. the information on citywalk is as follows.

US.gifVIRGINIA BEACH CITY WALK We are in need of Pre-Construction Soft and Hard Cost Analysis/Cost estimate of 12.6 acres of Mixed Use/Commercial/Retail/Luxury Apts/Office/hotel/Residential. We need seed money to begin project, REQUIRED AMOUNT: $850,000,000

MINIMUM INVESTMENT AMOUNT: $355,000

REGION: Out-of-State

INDUSTRY 1: Real Estate

INDUSTRY 1: Construction

INVESTMENT REASON: Sales & Marketing

PREMIUM PROPOSAL: No

POSTED: January 21, 2009

Citywalk Project

Remember last information on Phase IV for town center.. the city council presentation was December 8, 2008. So I dont believe the citywalk project is dead. I think its just waiting to be financed!..Just at the right time!

This is not proof of anything. This link has already been posted and was last updated January 21st.

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HarryVB Whistle-Stop

HarryVB

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The guy seems to have a attitude everytime I call the Northern VA office. He is like what is your profession. why are you soo interested in the project?.. Are you a investor?..What is your purpose.. I told him straight up. I am a Virginia Beach resident and I want to get more updated information on the citywalk project. He says its still on the drawing boards and the plans will expand into the bills flea market area when finished. SO its going to be triple the size of what it was before.. You can go to the website and call the guy yourself.. He doesnt seem too friendly though. I understand its business. but all the information should be public including the new renderings.

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varider Town

varider

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The guy seems to have a attitude everytime I call the Northern VA office. He is like what is your profession. why are you soo interested in the project?.. Are you a investor?..What is your purpose.. I told him straight up. I am a Virginia Beach resident and I want to get more updated information on the citywalk project. He says its still on the drawing boards and the plans will expand into the bills flea market area when finished. SO its going to be triple the size of what it was before.. You can go to the website and call the guy yourself.. He doesnt seem too friendly though. I understand its business. but all the information should be public including the new renderings.

Doesn't surprise me. 850 mil. is a lot of money. I don't think the project is dead, but I'm not too hopeful for any development now. But once the recession is over, I'd say we have a good chance of getting 2 or 3 skyscrapers built with the amount of money they're hoping for. We'd have quite a nice skyline with 3 30 or so floor buildings, combined with the westin, armada hoffler, aloft, maybe something to be proud of.

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urbanlife Town

urbanlife

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Doesn't surprise me. 850 mil. is a lot of money. I don't think the project is dead, but I'm not too hopeful for any development now. But once the recession is over, I'd say we have a good chance of getting 2 or 3 skyscrapers built with the amount of money they're hoping for. We'd have quite a nice skyline with 3 30 or so floor buildings, combined with the westin, armada hoffler, aloft, maybe something to be proud of.

I have always imagined the Pembroke skyline being a collection of low rises with tall towers here and there sticking up. Never really felt like there would be a cluster of towers together like most skylines.

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varider Town

varider

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Well with Town Center completed the heights for the buildings will go 38, 23, 20, 25+-. 15, 15, plus CityWalk which has the potential to sprout at least 3 20 + story buildings. Here's a rendering from when they were only working with 300 million. Now it's up to 850, whadd'ya think that could buy.

cityWalk.jpg

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  • 2 months later...
ronsmytheiii Hamlet

ronsmytheiii

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One thing I do not understand about this project is why was it not attempted in a piecemeal fashion rather than developing all at once? It would probably be much easier to secure funding and then develop one or a few buildings first than simply ask for the 850 million upfront. Heck Ocean Beach Club has multiple phases, and it is not anywhere near the size this proposal was (still think that it is dead)

Edit: Ok so it was planned to develop in three phases, however perhaps the project was too big for even three phases. I dont think a tower costs $850 million, so maybe they should reorganize the plan for more phases with smaller chunks of development.

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HarryVB Whistle-Stop

HarryVB

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Property wise and financial with Sifen whom owns the property. They are buying the property for him. He knows he can not build light commerical buildings. The land is zoned Dense so the property is worthless to him.

He does not have the kind of money like the international invester whom is investing into this major project.

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urbanlife Town

urbanlife

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I don't know if it has bearing on anything, but I was on Mulvanny's site yesterday and they had the City Walk project moved from "On The Boards" to there "Mixed Used" section of projects.

Nah, that doesn't really mean anything. The website is also a way to advertise themselves, and this is still a project they were paid to design, even if it was never completed.

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HarryVB Whistle-Stop

HarryVB

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Yes the city is buying up all the property where the old HQ area which is currently standing. They just finished the The shops at town center which is owned by Sifen. He did not have the money to create a large scale project. So he just renovated the old gateway computer store into upscale retail shops and they refaced the office max building. The land is currently zoned as Very dense property after they approved the Pembroke Implementation plan. They wanted to make sure the land was zoned dense for the city's urban core. The city walk project is nolonger on the boards because its becoming a reality soon as I was told by Sessoms. They have recieved International financing. The project is a billion dollars now. It was 800 Million. but because of construction cost and materials going up. They also reamped the project to make it more attractive. There will be 8 Phases for this project. I will have more information from the Mayor soon. He is sending me more detailed and updated renderings and information. He is very excited this project is in fruition. I also also very thrilled the project has finally came off the boards and will become a reality.

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