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Dominion Resources: New High-rise Building Planned for Downtown


TBurban

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1 hour ago, skycity said:

Considering that we're probably heading into something even more disruptive than the Great Depression, what are the chances that a current tower renovated would be more valuable than a parking lot?

That's a good question. One wonders though - I'm guessing a building demo and cleanup will be far cheaper than a gut and renovation project. And in all likelihood, DE wants to hang onto the land, so selling the building likely won't happen. Plus - if we are heading into something as disruptive or worse than the Depression, there won't be anyone ponying up to buy anytime soon.

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1 hour ago, skycity said:

Considering that we're probably heading into something even more disruptive than the Great Depression, what are the chances that a current tower renovated would be more valuable than a parking lot?

Nearly the entire base has been demoed at this point.  No idea the structural state of the interior now.  Perhaps there is possibility of rebuilding where the plaza/parking deck was, which was the biggest issue with that tower.  I would not be optimistic, though.

They also save $500k in annual real estate taxes with the demo, so I doubt they would sit on it longer than they have to.

Edited by Icetera
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5 hours ago, RVA-Is-The-Best said:

Anyone else lowkey don't want the building to be demolished because they're now worried the pandemic economy will leave the lot blank for potentially years

Have you driven by lately?  It's past the point of no return. 

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5 hours ago, RVA-Is-The-Best said:

Anyone else lowkey don't want the building to be demolished because they're now worried the pandemic economy will leave the lot blank for potentially years

Go ahead with the demolition.  This will just position the lot (if DE doesn’t start building on it immediately) as a prime location for a signature tower!

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16 hours ago, JSI said:

I heard 7AM - 9AM on the news yesterday. I'm planning to go down and view from the Lee Bridge unless anybody has any other good viewing suggestions?

I want to try to get onto Byrd Street, by the Federal Reserve.

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From the end of a Channel 6 story on the impending demolition:

"A spokesperson for Dominion Energy says the company will announce at a later date what its plans are for the property."

This does not sound encouraging to me. Considering what is happening to the global economy, are we looking at a parking lot for 20-30 years?

Edited by skycity
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