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Lofts at Boush Street

VBIllini13

By VBIllini13,
in Norfolk

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ORF flyer
ORF flyer

The scaffolding and barriers were removed today. 

BFG
BFG

Was walking down Granby and caught another angle. Disregard the ominous skies lol...

ORF flyer
ORF flyer

Slowly coming along. I would assume completion around  May.

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VBIllini13 Whistle-Stop

VBIllini13

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That rendering looks really nice. I'm sure it won't turn out like that, but it really would be nice.

 

Have any of Buddy's projects involved condos? I wonder if that could help get more younger people downtown?

 

I agree with both of you, the renderings look awesome. It just looks like something that that part of downtown needs.

 

I don't think Buddy has done condos but I could be wrong. The condo market is definitely starting to rebound but most developers are pretty wary about getting back into them, especially when apartments are still hot.

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skylinefan Hamlet

skylinefan

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Looks like a great project for that corner Boush and Bute Streets.  This was the same site of the Granby Tower sales office?  The usual boo birds on the Pilot pan anything that happens in Downtown Norfolk that is the least bit progressive.  Why would they automatically be so negative when Buddy Gadams is using his own money as a private developer to build apartments on what was a vacant plot of land?  Mr. Gadams has been a developer for a long time and I am sure he would not invest in this project unless there is demand for more apartments Downtown. 

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BFG Town

BFG

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Looks like a great project for that corner Boush and Bute Streets.  This was the same site of the Granby Tower sales office?  The usual boo birds on the Pilot pan anything that happens in Downtown Norfolk that is the least bit progressive.  Why would they automatically be so negative when Buddy Gadams is using his own money as a private developer to build apartments on what was a vacant plot of land?  Mr. Gadams has been a developer for a long time and I am sure he would not invest in this project unless there is demand for more apartments Downtown. 

The Granby Tower deal falling through is forever going to leave a bad taste in a lot of the commenters' mouths, even though it's been almost a decade. And it's a shame because Buddy wasn't setting out to scam people; the project was just too ambitious at a time when the housing market was collapsing. I honestly wish he'd shoot for GT again, but with maybe a different design, something totally outside the box for Norfolk or even Hampton Roads. Only spot I can think of downtown is the hotel at the corner of St. Paul and Brambleton...the one that changes names every two months.  :P

 

That said, he's bounced back very well with the apartments, and the pricing actually seems pretty reasonable. Dunno what the one poster on that article was referring to by implying DT Norfolk is mostly vacant.

 

A CVS as the retail space would be excellent...great location for DT residents, employees, or anyone who may need something while going downtown. Now, if only a store could take over the old Farm Fresh location..........

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VBIllini13 Whistle-Stop

VBIllini13

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The Granby Tower deal falling through is forever going to leave a bad taste in a lot of the commenters' mouths, even though it's been almost a decade. And it's a shame because Buddy wasn't setting out to scam people; the project was just too ambitious at a time when the housing market was collapsing. I honestly wish he'd shoot for GT again, but with maybe a different design, something totally outside the box for Norfolk or even Hampton Roads. 

 

Drastically different design. Even if the housing market did not collapse, GT would have had the hardest time selling all of those condos. It's not that the demand wasn't there, it's just that the number of condos in that single building would have been the equivalent to satisfy all of the demand for for-sale residences in DT Norfolk, and a 100% demand capture is just way too ambitious. Would love to see some smaller scale condo projects though!

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JPN0731 Hamlet

JPN0731

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Apartments are doing much better than condos. The Wainwright is leased out while Harbor Heights is a bleak (and at night a very dark) reminder of how condos have not yet rebounded. With apartments, there is more flexibility because they can suck people in with free month's rent or lower rental rates and then jack them up once people are in and don't want to move or don't have first and deposit handy so they pay the extra rent.

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Ghentite Whistle-Stop

Ghentite

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I actually do not understand why Harbor Heights won't lease these condos until they can find buyers. At least they can make money instead of all of these condos sitting in the dark.

 

That's unlikely to happen anywhere.  It's becoming increasingly rare for a residential complex that was originally designed for individually owned units to all of the sudden convert to apartments... because of the way mortgages work nowadays.  It's a crappy situation (and I've had to deal with it in Ghent) but it's just the way it is.  If you own a unit in a building that is comprised mostly of units that are for rent, it makes it much harder to sell your own place because it's tougher for any potential buyer to get a loan.  That's because lenders don't like giving loans to people that are trying to buy into buildings that has less than 50% of the owners actually living there.  Lenders won't give buyers as good of a rate and the'll tack on a higher percentage of the down payment.  So I don't think we'll ever see that happen at Harbor Heights (or anywhere) because the people who do own units there would be handicapping themselves from selling in the future.  

 

With all of that said, the most difficult part is that it would take the current Home Owners Association (not Harbor Heights) voting to allow it, which is highly unlikely, because they would want to protect their investments.

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vdogg Megalopolis

vdogg

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Drove by the site today, this building is going to be massive. Looks like they're prepping some buildings for demo too. This is going to have quite the presence on that corner. Design review is trying to make them go taller and scale down the footprint a bit so they can save that little white building on boush instead of incorporating it into the project.

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vdogg Megalopolis

vdogg

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I don't know why they are concerned about that little white building. What is the historical significance of it? At least the developer is incorporating the façade into the design.

Now making it taller would be nice, perhaps that is their overall goal.

Apparently it has some importance. Here's a document that gives a run down on the history of the building and why they want to save it.

http://www.norfolk.gov/DocumentCenter/View/19782

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mistermetaj Hamlet

mistermetaj

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If the city wanted to build a new hotel and convention center there, this building would get demolished. City double standard in action!

 

Protecting historic buildings is important, especially in Norfolk where they wiped the majority of the city out in the '60s.  However, this building is completely incorporated into the design.  I'm not sure what is worth saving besides the façade and the developer is already doing this.  This is strange.

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vdogg Megalopolis

vdogg

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This project is being held up due to a dispute over the historic nature of that little white building. Buddy wants to demolish, design review seems to be resisting. Not sure what the outcome of the meeting on the 23rd was, but here are some documents that explain the dispute.

http://www.norfolk.gov/AgendaCenter/ViewFile/Item/1308?fileID=1521

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tuffsim Whistle-Stop

tuffsim

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This project is being held up due to a dispute over the historic nature of that little white building. Buddy wants to demolish, design review seems to be resisting. Not sure what the outcome of the meeting on the 23rd was, but here are some documents that explain the dispute.

http://www.norfolk.gov/AgendaCenter/ViewFile/Item/1308?fileID=1521

 

I serve on the Architectural Review Board.  We voted to demolish the building.  We expect the ARB to take up the design of the project at our next meeting on March 9.

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vdogg Megalopolis

vdogg

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There seemed to be some minor activity on this site when I drove by the other day. Surveying and what not. Some areas cordoned off. Looks like they may be getting ready to demolish that little building. Hopefully we're in at least the preliminary stages of site work.

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