HRVA

New proposal for the DePaul site: Anyone have any background on this organization or an indication of the likelihood of this happening? It was shared by Martin Thomas so that provides some legitimacy. Just seems like a massive redevelopment for not a lot of building.

WAVY really botched the Virginia Code section they quoted as it pertains specifically to properties zoned agriculturally, which this property obviously is not. The other other bit of information I found interesting, and is somewhat mentioned with the quote from McClellan is that local leaders were unaware of their interest in the O’Connor property until it was announced. Typically any project that is getting economic development money from the state involves collaboration with the locality. This whole thing feels like a manufactured political minefield. More details from Virginia Mercury.

Martin Thomas will chime in on Reddit from time to time, most recently to correct some misinformation about some proposed changes to the zoning ordinance.

Drone footage from WM Jordan of the site: https://fb.watch/osDOfCUp3n/?mibextid=N7dtgh

The only change between Q2 and Q3 I see is leaving the door open for multifamily on the Regal site but that’s clearly a long term if…, then… plan. But really almost any multifamily project not already under construction is either dead/cancelled or on hold until rates start to come down. It is what it is. AH is going to save their capital for the deals that present themselves on the other side of this cycle. As for Divaris, the only ‘big’ announcement I recall was LEGO. Hopefully there’s something coming before the end of the year but everything everywhere is getting pushed back so I’m not optimistic.

Yup, this and another drive thru (Panda Express IIRC) across the street in front of Walmart had/have been working through the approval process. Par for the course infill.

Here’s the specific language each municipality had to use in their referendums: "Shall casino gaming be permitted at a casino gaming establishment in ________________________ (name of city and location) as may be approved by the Virginia Lottery Board?  [ ] Yes  [ ] No" And the requirement that a preferred operator be selected prior to the referendum: An eligible host city shall promptly submit its preferred casino gaming operator to the Department for review prior to scheduling the referendum required by § 58.1-4123. Both link to the Code of Virginia sections quoted.

Every other location had a site and operator selected prior to their respective referendums. I believe that was a requirement in the state law that was passed enabling all of this.

Obviously he’s a real estate agent and mentioning apartments doesn’t benefit him but there are so many more places to live in NEON than the one building he mentioned. Disappointed he didn’t at least make mention of that since he has a larger audience than people looking to buy a home.

Here’s the governors press release: https://www.governor.virginia.gov/newsroom/news-releases/2023/november/name-1016719-en.html

Every other casino in Virginia has taken some kind of phased approach. Danville and Bristol in the form of temporary casinos and Portsmouth certainly hasn’t completed their proposal (no hotel). There’s clearly other issues going on behind the scenes but I don’t think a phased approach is unreasonable.

This is from a few weeks ago:

This is a relatively newer group but they own something like 20 MiLB teams and I couldn’t find any stories about them relocating teams. I think this will be a positive change. Harbor Park is in need of an overhaul and the timing is right with lease negotiations and a well capitalized ownership group. They will also bring direct knowledge of what is working with other teams. Frankly, while the team itself is great and fully loaded with top tier prospects, the experience at Harbor Park has been lacking for awhile now.

Depends on the organization. The Tides used to be this way but the past couple of seasons Norfolk has been spoiled with extended stays by some of top prospects in baseball, including multiple #1s (Rutschman, Henderson and now Holliday).

Not the best but renderings nonetheless. First floor will be parking.