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About wrldcoupe4

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    Richmond, VA

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  1. Richmond Developments

    New highbay tilt-up buildings are about as attractive as a warehouse can be... will be a big upgrade compared to what's there. That area is a major industrial area, and I don't see that changing anytime soon.
  2. Richmond Developments

    Woah that’s big news. Very cool!!!!!
  3. The Locks at 321

    Tparker is spot on. WVS typically does very attractive development. Rockett’s Landing is WVS.
  4. New Richmond Arena

    The downtown Richmond Marriott is about the same size.
  5. Rockett's Landing

    It’s a strange quote anyways because it isn’t the middle of downtown. I love Rockett’s, but retail struggles there because you have a relatively small on site population and then density basically falls of a cliff heading out of town from there.
  6. The Locks at 321

    What are rents/rent growth in crystal city? What are rents/rent growth in downtown Richmond? The answer likely explains the materials and the height.
  7. Amazon HQ2

    The average salary for the HQ is $100k. A lot of cities think this concentration of high paying jobs will elevate their communities. Their efforts are well intentioned even if we are suspicious of whether this is the right way to invest tax dollars. Even still, no community is required to provide incentives. What if none of them did? Amazon would still pick a new location based on a variety of factors, just not that one. My prediction - they will not choose the location that offers them the most incentives. There so so many factors that go into site location - talent, taxes, cost of living, transportation, etc etc.
  8. Richmond Developments

    It’s the former Verizon leased building that the state acquired several years ago. The lottery is a tenant. Verizon still owns the building shown in the picture above.
  9. Amazon HQ2

    While I agree the incentives are excessive, Amazon hasn’t forced anyone to provide them. These locations have chosen to do so. What if no location offered incentives ?
  10. Richmond Developments

    Main Street Centre - 600 E Main.
  11. The Locks at 321

    Doesn’t CAR weigh in only on old and historic district restrictions?
  12. The Locks at 321

    I find the facade leaves much to be desired, but if they have all approvals in place to move forward, on what grounds can the city step in?
  13. Richmond International Airport

    I did not realize the terminal expansion was taking place over the next 2 years. That’s good.
  14. The Locks at 321

    Absorption isn't really the issue (there's plenty of demand) so much as it the current market rents. New, highrise construction is EXPENSIVE, and our rents do not support the cost. Even if a developer wanted to build it, a lender wouldn't lend on it. Rents are appreciating and we are getting close, but we're not their yet. Office space is a little different, but similar. With very rare exception, speculative office space with no leasing commitments does not happen in a market like Richmond (all new office buildings downtown have had a committed anchor tenant - Williams Mullen Center, MWV, Gateway Plaza - McGuire Woods, Riverside - Troutman Sanders, etc etc). Again, no one would lend on the project (see the dead Locks at 321 project). And new office rents need to be much higher, a prospect for which most companies in Richmond have no interest. We're getting closer on the market rents for residential, and if the tax bill kills the tax credit program (I'm very opposed to killing the program), it will likely escalate rent costs given pent up demand, in turn making new construction more feasible. The market will need adjustment. Lenders, developers, and residents have grown accustomed to the structure the tax credit program has provided.
  15. Richmond Region Transportation

    So, while I still think the Main Street Station project is a bit of a missed opportunity, the interior of the train shed space is stunning. The roof structure is captivating. Once Franklin Street connection is finished and the Farmer’s market redone, the 1st level of Main Street Station should have commercial applications like restaurant space and perhaps a coworking space.