142 replies to this topic

[rusthebuss]

okinawatyphoon, on Aug 13 2005, 07:20 PM, said:

thats posted on the page before, Rus.   

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whoops!   

[okinawatyphoon]

Former elementary school sold to developers, to be converted into luxury condos

[vdogg]

okinawatyphoon, on Aug 18 2005, 08:42 AM, said:

Former elementary school sold to developers, to be converted into luxury condos

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Thats interesting   . The things they'll convert to condos nowadays.

[rusthebuss]

I guess its better than just an empty building sitting there.

[okinawatyphoon]

Port authority urges Isle of Wight to plan for growth

While not exactly Suffolk, I didn't know where else to put it!  

"Port officials have developed a plan for the future called an “Intermodal Park Concept.” The study was released for the first time this week to officials in rural Isle of Wight County, just one of the areas identified for potential development.

The plan is expected to bring economic growth to rural areas of western Hampton Roads – an estimated 26,000 new jobs with annual wages of $788 million and a regional economic impact of $2.7 billion, in addition to increased tax revenues."

[rusthebuss]

Dude that is awesome! See the money will be coming back to the area, just maybe not in Vabeach.

[vdogg]

You can't beat 26,000 new jobs! Thats awesome.

[soloextreme]

That is pretty awesome. Interesting that they would convert a school instead of demoing and starting from scratch.

[rusthebuss]

soloextreme, on Aug 27 2005, 10:12 AM, said:

That is pretty awesome. Interesting that they would convert a school instead of demoing and starting from scratch.

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From an investors stand point its probably cheaper to renovate the school into condos with the max profit and I could have swore the city is giving them some kind of incentive for it too.

[Telmnstr]

First off, don't get excited about the field of dreams announcements from Cities in regards to their technology parks. Everyone has got one. Chesapeake has one off of Battlefield, home of a call center for Panasonic? Virginia Beach's has a call center for Geico... The new one in Hampton I haven't kept up with (Magruder near LaRC? There was supposed to be some huge building but I don't know if it's been completed).

The cities build these things then try to attract new companies. But perhaps too much investment is going into residential real estate speculation, versus oh I dunno perhaps funding companies that CREATE JOBS.  Many of them are fairly empty.

If you look at the HREDA and some of those groups, they really haven't attracted much in the way of real jobs.

In terms of condo conversions, I keep seeing people from other markets claim that is the signal of the end of a bull RE market.

[hoobo]

Telmnstr, on Sep 15 2005, 09:08 PM, said:

First off, don't get excited about the field of dreams announcements from Cities in regards to their technology parks. Everyone has got one. Chesapeake has one off of Battlefield, home of a call center for Panasonic? Virginia Beach's has a call center for Geico... The new one in Hampton I haven't kept up with (Magruder near LaRC? There was supposed to be some huge building but I don't know if it's been completed).

The cities build these things then try to attract new companies. But perhaps too much investment is going into residential real estate speculation, versus oh I dunno perhaps funding companies that CREATE JOBS.  Many of them are fairly empty.

If you look at the HREDA and some of those groups, they really haven't attracted much in the way of real jobs.

In terms of condo conversions, I keep seeing people from other markets claim that is the signal of the end of a bull RE market.

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How do you build an open tract of land?  That's Corporate Landing, where Geico is.  Anyway, call centers are moving to India and eastern Europe.  Few cities build spec buildings (no signed tenants).  Portsmouth did that but only because developers weren't willing to build in that city unlike in VB, Cpeake and Norfolk.  Find me a spec building in VB.  Suffolk doesn't really need them either since they are the new frontier in terms of large cheap industrial-zoned tracts.

So when is this bull RE market gonna end?  When it does, HR is not in line for a correction (until Oceana ships out) since its home prices are reasonable in terms of wage multiple.  HR isn't LA or Boston not is it Des Moines or Indy.

[okinawatyphoon]

House prices jump 20% in Suffolk

[Telmnstr]

okinawatyphoon, on Sep 24 2005, 01:42 AM, said:

House prices jump 20% in Suffolk

And I am a former employee of the formentioned Joint Forces Command. Myself and coworkers were not that highly paid by our contractor (HUGE multinational corporation that counts profits with a ticker on their webpage that counts in billions). Not paid well enough to keep up with the cost of living adjustments. That is why I left. People I know that work for other companies now are trying to push for better pay but not seeing it yet. Generally you have to play the game and hop contractor to contractor to work your salary up.

But many of those contractors there are stingy with the purse strings. I'm sure they bill high for the positions then pocket the money.

Expansion though, there is. There is a large building called J7, then the smaller building called J9 which recently had a 2nd floor added. the hag Precision Bearing building was taken over, and is no JFCOM property. There is also a small machine shop that held out for a long time. I've heard they got bought out as well (wonder what they pocketed?) so that whole area now belongs to JFCOM. Then down the road at Bridgeways there exists the new SAIC facility and Lockheed facility. While it's high paying jobs and everything, do remember that it's all funded by defense spending. Finally when someone decides to do something about the enormous federal debt there could be constrictions in the postitions out there.

I am happy to see tech jobs.

[urbanvb]

Obici Hospital is merging with Sentara Healthcare.
article

[okinawatyphoon]

Former Obici site: Three players compete to develop it

They plan to turn the site into a mixed-used building. sounds good!!  

[rusthebuss]

okinawatyphoon, on Nov 12 2005, 08:18 AM, said:

Former Obici site: Three players compete to develop it

They plan to turn the site into a mixed-used building. sounds good!!  

Let's hope so! I could see Suffolk turning into a mild Vabeach in the northern section.

[okinawatyphoon]

Suffolk planning board approves condo project for downtown

[rusthebuss]

okinawatyphoon, on Nov 16 2005, 02:11 AM, said:

Suffolk planning board approves condo project for downtown

Hopefully it will be successful.

[vdogg]

Prime waterfront location has developers buzzing

[rusthebuss]

vdogg, on Nov 18 2005, 03:48 PM, said:

Prime waterfront location has developers buzzing

So what is TCC trying to do with this land? I don't have time to read the entire article.