129 replies to this topic

[ronsmytheiii]

As I did not have any idea what Equity participation is:

Quote

Equity participation gives the lender an incentive to make a loan  because they share in the increased equity of the business. If the  lender feels that the business has a good model with plenty of  potential, they can have a stake in the company, and will see an  increase in profits as the company grows.

So increasing it means that the bank has more incentive to get this cone?

[HarryVB]

Here is more information i found about the dome site..


   Virginia Beach  

  Ideas? Michael Jenkins has loads of them.  

  The Dallas businessman said this week that he has at least 20,   maybe 21, ways to transform the former Dome site from an  Oceanfront  parking lot into the entertainment destination that city  leaders have  long coveted.  

  Among the plans Jenkins pitched  Thursday and Friday: a 2,500-seat  performance theater and three smaller  venues; an ice-skating rink; a  waterfall with Hawaiian cliff divers; a  children's diner; maybe  even a 17-story Ferris wheel, protruding from a  building with a glass  facade that will sparkle with nightly light  shows. …

Times Square with roof where Dome used to be

[urbanlife]

HarryVB, on 05 June 2010 - 12:50 PM, said:

Here is more information i found about the dome site..


   Virginia Beach  

  Ideas? Michael Jenkins has loads of them.  

  The Dallas businessman said this week that he has at least 20,   maybe 21, ways to transform the former Dome site from an  Oceanfront  parking lot into the entertainment destination that city  leaders have  long coveted.  

  Among the plans Jenkins pitched  Thursday and Friday: a 2,500-seat  performance theater and three smaller  venues; an ice-skating rink; a  waterfall with Hawaiian cliff divers; a  children's diner; maybe  even a 17-story Ferris wheel, protruding from a  building with a glass  facade that will sparkle with nightly light  shows. …

Times Square with roof where Dome used to be

Quote

Article: Times Square with roof where Dome used to be.(Local)

Article from:
    The Virginian-Pilot (Norfolk, VA)
Article date:
    September 20, 2008

You missed something in that article.

[HarryVB]

Yeah well. I was not posting it because of the date. I was posting it to give you a idea of what will be built on the current dome site lot..

[urbanlife]

HarryVB, on 06 June 2010 - 02:27 PM, said:

Yeah well. I was not posting it because of the date. I was posting it to give you a idea of what will be built on the current dome site lot..

It's land, just about anything could be built there.  Heck, I would dare say everyone already knew that for the past several years what VB officials want to see there.  Actual news on this topic would be this.

Quote

DOME SITE
8. Approved resolution requesting an 8-month extension of the non-binding agreement between Leisure and Recreational Corporation and the Virginia Beach Development Authority.
MOTION: Douglas D. Ellis
SECOND: Shewling Moy Wong
APPROVED: 9-0
Rob Hudome briefly reviewed the history of this project. The current vision is a 400,000 sq. ft. three-story entertainment mall to include approximately 43 components (ie., movie theater, ice skating rink, bowling alley, arcades – to name a few). Michael Jenkins was in town yesterday and met with Mayor Sessoms, John Uhrin, John Richardson, Jim Spore, Steve Herbert, and Jim Ricketts. Progress on details pertaining to the parking component was made. Mr. Jenkins wants to move forward with the project, and Mr. Hudome noted Mr. Jenkins had acquired financing prior to his first visit to Virginia Beach. Since that time equity participation has increased to 50% from 15%. R.J. Nutter, Mr. Jenkins attorney, was also present and said his client – in spite of the financing challenges – continues to work on the plans. Mr. Hudome reported Mr. Jenkins has been successful in securing international financing. A letter from R.J. Nutter is hereby incorporated into these minutes.

April 20, 2010

Which means he is still working with the city on this idea, but currently doesnt have financing for it and the city has no other developers wanting to redevelop the land, so therefore they are continuing to work with the same developer because it isnt really costing the city anything to do so.  If you just wanted to post what could be built there, one you should of said that in your post, and two you should of posted the South Korean developer's proposal because that was probably the biggest idea that has ever been proposed for that site.

[HarryVB]

Listen guys.. I will say what i want to say and when.. Just sink in the info and hush it.. next topic!!

[rusthebuss]

So u think u can say what u want and everyone is not suppose to respond?come on dude...people are just going by ur lovely track record of misinformation

[urbanlife]

This just in, Donald Trump plans to build the world's tallest condo building at the Virginia Beach Town Center!!!  

I am still waiting on that information that proves that Jillian's will be moving to the Town Center because that sounded like really exciting and truthful news!!

Edited by urbanlife, 10 June 2010 - 03:34 AM.

[Henry_Ryto]

Michael Jenkins has had enough capital lined up to build it under the old rules. With the credit markets tightened, the banks will now lend a smaller percentage of the money. Thus, the delay is about covering the difference.

What has long been decided was that desire for an entertainment venue at the Dome site. That will bring off-season bus tours to Virginia Beach, and bring down residents during the Winter.

[ronsmytheiii]

Quote

The city gave Michael Jenkins, president of Leisure and Recreation Concepts Inc. in Dallas, an exclusive eight-month window to deliver the plan for the long-vacant site of the city's entertainment venue, the Dome. After five deadline extensions, officials still are waiting. Some are getting impatient, and the City Council has sent a message.
If Jenkins doesn't deliver in the next two or three months, the council warned, the project would be opened to other developers. The latest contract extension expires on March 31.

http://hamptonroads....loper-dome-site