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Virginia Beach Stores, Retail, and Resturants

RJWGMU — Fri, 20 Nov 2009 13:17:32 +0000

so are they going to take the place next to Pet Smart/Pier One at S. Plaza and Va Beach Blvd? Is that the location they are talking about?

Virginia Beach Stores, Retail, and Resturants

urbanvb — Fri, 20 Nov 2009 03:09:57 +0000

^ I was about to ask the same thing. I think I have heard of them but never been in one. Good thing though to have this big box store occupied by someone. I noticed VB's old Circuit City store is being readied to become another East Coast Appliance. I think the city bought the building and East Coast is renting it.

Virginia Beach Stores, Retail, and Resturants

RJWGMU — Fri, 20 Nov 2009 00:59:38 +0000

mikeas, on 19 November 2009 - 07:51 PM, said:

http://hamptonroads.com/2009/11/midwest-electronics-retailer-leases-space-hampton-roads

HHGregg is opening a store in VA Beach in an old Linens and Things on VA Beach Blvd.

Still Norfolk is without a major electronics store.

never heard of that chain. is anyone familiar with it?

Virginia Beach Stores, Retail, and Resturants

varider — Fri, 20 Nov 2009 00:21:15 +0000

That's really good,I'm about tired of Best Buy, ha.

And what's Virginia Beach's is Norfolk's IMO. Seven cities!

Virginia Beach Stores, Retail, and Resturants

mikeas — Thu, 19 Nov 2009 23:51:46 +0000

Pembroke Development

mistermetaj — Thu, 19 Nov 2009 22:29:35 +0000

vdogg, on 19 November 2009 - 05:58 AM, said:

You must've missed this part: "Block 2 - Planned 14 story office building on top of 6 stories of ground floor retail and a parking garage." 6+14=20. The entire structure will be 20 floors, Instead of the originally planned 22. This change happened all the way at the beginning of the year. That is a 2 story reduction and is hardly the end of days. There has been no reduction to aloft and there won't be considering they have already received financing for the building as is. As a matter of fact, The building on that lot was originally planned to be 6-stories. A little context and research would be a good idea before making such blanket statements...

There will probably be 1-2 floors for mechanical at the top as well. This tower will be a fine addition to TC.

Pembroke Development

varider — Thu, 19 Nov 2009 22:09:39 +0000

HarryVB, on 19 November 2009 - 05:04 PM, said:

OK I understand that part. But fill me in about the 6 story retail on ground floor.. I think there can only be one ground floor..lol.. Maybe 6 story retail ontop of a 14 story office tower which makes it qual at 20 stories.. but you cant have 6 story ground retail.. not sure if that is gonna look right. Is there any updated pictures of this tower.. and is it still going to be the gateway bank tower or B&M tower?. Bank and Market since its on the corner of Bank and Market Streets.. I surely Hope its the same exact rendering as before.. its a beautiful building for sure

Read the posts, dude!

It's one floor of retail, 5 floors of parking, 14 floors of office. What sense does 6 floor "ground floor" retail make?

Pembroke Development

HarryVB — Thu, 19 Nov 2009 22:04:45 +0000

Pembroke Development

vdogg — Thu, 19 Nov 2009 11:58:41 +0000

HarryVB, on 19 November 2009 - 03:07 AM, said:

Wow, so the Block 2 building where the Virginian Pilot building is, They downgraded from 24 stories to 22 stories to 20 to 14 stories. So long for the va beach skyline.. a 14 story Office tower?.. what the hell.. I wonder if the Aloft Hotel/Apartments will still be at 15 stories. or is that down grading to 5 stories..LOL.. I understand the downturn in the economy. but what are they thinking.. 14 story office tower.

Pembroke Development

HarryVB — Thu, 19 Nov 2009 08:07:53 +0000

Virginia Beach Project Database

vdogg — Thu, 19 Nov 2009 03:34:52 +0000

I plan on on retiring the projects listing threads in both Norfolk and Va. Beach and adding the data from these threads to the new project databases we have for each respective city. Example Needless to say, this is a daunting task and I don't quite have the time to do it all myself. Anyone can add a project to the database however so what I plan to do is unlock each of the projects threads and let people take information from them and add it to the database as they see fit. Any unmentioned urban projects may also be added to the list (no subdivisions please ). Once a particular project with all pertinent information has been added to the database, and this information has been reviewed for accuracy, I will lock that project from any further editing. If you have added a project to the database, please either send me a pm or post in this thread that you have done so so that I can review it, lock it, and delete the entry from the original projects listing threads. Thanks in advance for your help.

Pembroke Development

varider — Thu, 19 Nov 2009 01:32:59 +0000

Yeah, the Central Village neighborhood is huge and will be where the majority of the medium density residential will be developed, I agree.

But the Pembroke Implementation Plan has been approved by City Council and a few alterations have been made and will be posted on the website soon.

Pembroke Development

ronsmytheiii — Wed, 18 Nov 2009 13:40:18 +0000

varider, on 18 November 2009 - 07:42 AM, said:

Armada Hoffler has not had trouble finding financing for anything. Who would have though someone would finance a 500 foot condo/hotel tower in Va Beach? I know about the recession, but that won't last forever.

Well that is residential as opposed to office space.

However going back to the lower urban buildings, I might have been off in the number of floors. However I do believe that we should concentrate on the Central Village area next, as that is a big part of the urban fabric of the Pembroke implementation plan.

Pembroke Development

varider — Wed, 18 Nov 2009 12:42:39 +0000

Pembroke Development

ronsmytheiii — Wed, 18 Nov 2009 12:33:01 +0000

varider, on 18 November 2009 - 07:14 AM, said:

Seeing as Wells Fargo in Norfolk is only about that much leased right now with construction almost over, I'd say that means it's just waiting for financing. It could be 100% leased by the tme it's built. Then on to Block 11 tower.

A word of caution on that assumption though, it was started early in the recession while the depths of the slump were unknown. Although if it is fully leased, it would be perplexing why it would not get financing, as that would be a slam dunk investment.

Pembroke Development

varider — Wed, 18 Nov 2009 12:14:52 +0000

ronsmytheiii, on 18 November 2009 - 07:09 AM, said:

Out of curiosity, typically how much must a building be leased before it is built? I know Silverstein would just build and wait for tenants, but that how about normal developers? Or is Block 2 just waiting on financing?

Pembroke Development

ronsmytheiii — Wed, 18 Nov 2009 12:09:13 +0000

Pembroke Development

varider — Wed, 18 Nov 2009 11:57:29 +0000

􀂾 Phase IV (Block 2 and Block 9)

o Block 2 - Planned 14 story office building on top of 6 stories of ground floor retail and a parking garage. Currently 60%-70% pre-leased.

http://www.yesvirginiabeach.com/file_source/dept/econdev/external/AboutUs/Documents/May19Minutes.pdf

o Block 9 - financing secured for hotel and luxury apartments via HUD Section 220 loan program - which was also utilized for the Cosmopolitan. Anticipate ground breaking First Quarter 2010.

Pembroke Development

HarryVB — Wed, 18 Nov 2009 05:15:48 +0000

Do you have any proof that the Gateway Bank tower has been 60-70 percent leased? I will believe it when i see it

Pembroke Development

urbanvb — Wed, 18 Nov 2009 04:23:08 +0000

Up until quite recently the TC has been a huge success (perhaps minus the absence of the key retail players) but overall it has done well. I expect once the economy turns around things will improve for us quite a bit.

CityView Progress

varider — Tue, 17 Nov 2009 23:41:13 +0000

I drove by there this afternoon, it looks like more has been done since last time I saw it (maybe 2-3 weeks?).There were even about 20 concrete cylinder type things, construction barriers, about 10-12 bulldozers, and like admcarl said, you can now see the "skyline" of Town Center from Bonney.

Pembroke Development

varider — Tue, 17 Nov 2009 23:36:38 +0000

I'm not worried about any of the Va Beach projects. Developers recognize the success of Town Center and some of Armada/Hoffler's other projects in various cities. They are a reputable company and Gateway is already 60-70% leased. The Norfolk Westin on the other hand..

Pembroke Development

vdogg — Tue, 17 Nov 2009 17:18:27 +0000

mlsimons, on 17 November 2009 - 12:15 PM, said:

I'm starting to get really nervous about a lot of the major projects like the Aloft, Gateway Tower and the Downtown Westin. It seems like these projects were all planned/designed before the market crashed and then now they all been approved and are awaiting construction but its a whole new world out there, and the new costs might make the investment required seem unfeasible. I know that a lot of these big players have supposedly already received financing... but have their interest rates gone way up? Has construction cost just skyrocketed? Why haven't these projects started when they were all approved months ago? If this was 4 years ago they would have broke ground the day council said Approved.

Is anyone else sharing in these concerns yet keeping it inside?

Aloft has confirmed financing and is scheduled to begin after the first of the year. That one's in the bag. They received their financing this year in the middle of the economic turmoil, it's a lock. Gateway, not so sure. Commercial real estate is taking a beating right now and I wouldn't be surprised to see it postponed another year. Info on the Downtown Westin's status is in the Norfolk forum.

Virginia Beach Stores, Retail, and Resturants

mlsimons — Tue, 17 Nov 2009 16:27:43 +0000

urbanvb, on 16 November 2009 - 03:23 PM, said:

I noticed at the back of Pembroke Mall they are trying to sell off some of their property as out parcels. It's a shame seeing prime property being sold for such. Oh well, with the economy maybe the property will sit for a while.

I haven't seen the exact locations you are referring to, but I think that is a terrible idea. We will end up with some more suburban Sifen projects if the city doesn't put down the hammer. The owner of the mall is obviously loosing money and he's being taxed out the waazoo for all his prime land right next to town center (which is underutilized). However that land does not need to be built in disregard to the new Pembroke plan. Quite simply the mall needs to be taxed out of business unless the owner can either make money with what he's got, or invest in a few upgrades to the vacant parking lots surrounding him in order to build, or sell off, in accordance with the Pembroke plan. This would include adding the street grid infrastructure to whatever he's trying to sell off.

In order for any of this work the city needs to completely commit to the Pembroke plan, this means start investing in the infrastructure needed in order to provide retail/office developers with the the clean slate to fill in the private sector holes with what the city wants.

Pembroke Development

mlsimons — Tue, 17 Nov 2009 16:15:10 +0000

Virginia Beach Light Rail and Transit

urbanfan — Tue, 17 Nov 2009 14:20:05 +0000

varider, on 16 November 2009 - 05:32 PM, said:

I don't know where to post this, but Newport News has not given up on LRT and are even looking at a ferry from Newport News to Norfolk.

Peninsula Rapid Transit Project

Current analysis requested by Newport News showed that the density levels, both residential and commercial, needed to support FTA’s New Starts program thresholds could potentially be accommodated within the recommended alignment’s available vacant and underutilized properties. A preliminary evaluation of a potential ferry connection between Newport News and Norfolk was also included. The consultant team, based on input from City staff, is in the process of establishing recommendations for policies that could be used to attract the needed levels of density to support LRT. The preliminary results from this analysis will be presented to the City of Newport News’ Balanced Transportation Committee in mid-November. The final results from the study will also be shared with the Planning and New Starts Development Committee in December.

Yeah, Light Rail has been put on hold up here. The overall analysis is that there is just not enough density along the route to support it at this time. They are specifically focusing on corridor 3 which is the hospital to mall to airport route for now. However, all of the money that was set aside for studies and projects has been given over to the other rail projects so that they can advance. We won't be seeing light rail up here for some time.

Pembroke Development

varider — Mon, 16 Nov 2009 23:55:43 +0000

Another idea I thought about.

There's actually lots of office space in those lame 5-6 floor Pembroke 1-6 office buildings [I actually go to the docter in two of them].. I think that any new office building built in the downtown area will continue to draw offices out of the Pembrokes [there's already lots of vacancies] and into the new towers. Eventually, they will become abandoned [believe me, they r already rough] and that will be prime land for development. With ArmadaHoffler tower 100% leased, it won't be long before a couple more office towers are constructed [I think Gateway or whatever will become 100% leased just like AH.] I honestly am feeling very excited about the future of downtown/town center/pembroke/midtown/center city/uptown/ whatever else I've heard it called.

As far as residential, Town Center already has high demand. I'm guessing it will become even more desirable once the lightrail comes through [halfway between DTN and the Oceanfront]. I think we are goin to see a res.building boom. You've seen with the aLoft [already financed] that res. won't be hard to get $$ to build.

Pembroke Development

urbanlife — Mon, 16 Nov 2009 23:39:52 +0000

Actually I am really curious how new development is going to happen throughout the light industrial area west of the town center...I see either small almost grassroots projects happening creating small funky urban pockets at first with 3-5 story projects...which with the current state of the economy might be easier to do that these larger projects. Also talking about the occupancy rate of the area, 95% doesnt matter when talking about a light industrial area. Also with so many individual property owners in that area, I think it will be hard to get large projects started at first without the help of the city trying to buy up land.

Though on the flip side, it would be important to build a large area of buildings throughout the industrial area for a quicker change over. I will the old HQ site was in development as originally planned because that seemed like the perfect push to new development started throughout that area...though I did question the connectivity of that plan, it was not the best for promoting urban growth to the west...I think Kellam should be a retail active street though that area, not the back end of buildings and garages.

Virginia Beach Light Rail and Transit

varider — Mon, 16 Nov 2009 21:32:59 +0000

Pembroke Development

varider — Mon, 16 Nov 2009 21:11:29 +0000

ronsmytheiii, on 16 November 2009 - 03:55 PM, said:

Sorry, was not talking about the SBD, talking about converting the industrial/carlots/run down strip area into 3-5 urban style buildings. Would be a great way to start converting the middle of Pembroke into an urban environment, rather than waiting for it to spill out of the CBD.

I'd agree if the height was 5-7 floors. But 3 stories is like the size of a house. That should be nowhere near the downtown of the Commonwealth's biggest city. Just my opinion.

When you have a 15 story apartment complex thats over 95% occupied and a 40 floor condo/hotel tower that's not doing too bad, why stop. I can't wait to see how the aLoft apartments do.