NFKjeff

120 room Marriott Autograph boutique hotel, glass gallery in Royster Bldg.

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A developer has proposed buying the old 13 story Royster Building on Granby St. from the NRHA and refurbishing it into a 120 room boutique hotel. The hotel would be part of the Marriott Autograph Collection, and would also feature a restaurant and glass art gallery.

http://pilotonline.com/news/local/developer-proposes--room-boutique-hotel-for-granby-street-in/article_3759ff4a-a951-5312-88ab-b65282fe36bc.html

Edited by NFKjeff
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Cool...as Norfolk tries to increase its profile and become a more accessible city, I like that they're adding more hotel space as well. Interesting that you'll now have three Marriott properties in a short span: the one on Main St., the Courtyard further up Plume, now this on Granby.

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I believe the Royster building is currently an office building too, so the conversion to a hotel should tighten up office vacancy even further! I love hotels, and I am thrilled downtown Norfolk is finally becoming a desirable place for this form of development.

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Good point on the loss of office space. Maybe an office tower is becoming more and more feasible?

Also, to the point of hotel space, I wish they could tear down the Sheraton and the thing north of Scope. Two less hotels can really help push people toward the Main and this new hotel (and the other newer ones DT) while opening some land for potential development. I like the idea of a residential tower or two on the current Sheraton site.

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I think the Sheraton just underwent a major renovation a few years ago, so that one's probably here to stay. I'm surprised the hotel across from scope (I think it's a Wyndham now) is still standing.

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48 minutes ago, VBIllini13 said:

I believe the Royster building is currently an office building too, so the conversion to a hotel should tighten up office vacancy even further! I love hotels, and I am thrilled downtown Norfolk is finally becoming a desirable place for this form of development.

The NRHA has been the primary tenant of the old Royster Bldg. but it is now moving to 555 E. Main St. (PNC Bank Bldg.)

I saw construction on the ground floor of PNC about 6 weeks ago and wondered what it was. I'm not sure what classification PNC is (guessing Class B), or what effect this will have on the vacancy rate. I suppose it will reduce Class B rate somewhat, and every bit helps.

20160507_121015.jpg

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555 E. Main is considered Class A.

I am waiting to read the 2nd Quarter report from Colliers International. That will show how much office space was absorbed or removed in downtown Norfolk to get a better picture of the vacancy rate. 

Norfolk_Office_Q1_16.pdf

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49 minutes ago, ntheo said:

555 E. Main is considered Class A.

I am waiting to read the 2nd Quarter report from Colliers International. That will show how much office space was absorbed or removed in downtown Norfolk to get a better picture of the vacancy rate. 

Norfolk_Office_Q1_16.pdf

Great! IIRC the Atlantic at City Walk (formerly new Royster Bldg.) which will be the ADP offices was Class B, but is being upgraded to class A. So that should cause a zero net increase in class A vacancy, but will increase class A absorption. Is that correct?

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3 hours ago, NFKjeff said:

Great! IIRC the Atlantic at City Walk (formerly new Royster Bldg.) which will be the ADP offices was Class B, but is being upgraded to class A. So that should cause a zero net increase in class A vacancy, but will increase class A absorption. Is that correct?

For the ADP offices it is a ledger transfer from Class B to Class A. We should see a drop in total square footage of B space with a corresponding drop in the vacancy rate. For the Class A column two changes should show: 1. transfer ADP offices to Class A (leased) addition and 2. the removal of BOA tower footage. It was consider A- class but tallied with Class A. I am not aware of any new Class A space being built out in the last quarter or two so we should see a net drop in Class A space (BOA tower square footage is greater than ADP office footage) as well as a drop in the vacancy rate. It if goes below 10%, especially below 8%, you begin to see talk about building a new tower. At this point, you have four potential spots in downtown: 

1. Empty lot on St. Pauls between City Hall & Plume.

2. & 3 The newly demolished courts area by City Hall. Two lots for potential buildings.

4. Third anchor site for the mall on Monticello & Freemason.

The Norfolk 2020 plan has towers for each site (mixed use residential/office for mall site) so we will see what is proposed in the upcoming months.

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7 minutes ago, ntheo said:

For the ADP offices it is a ledger transfer from Class B to Class A. We should see a drop in total square footage of B space with a corresponding drop in the vacancy rate. For the Class A column two changes should show: 1. transfer ADP offices to Class A (leased) addition and 2. the removal of BOA tower footage. It was consider A- class but tallied with Class A. I am not aware of any new Class A space being built out in the last quarter or two so we should see a net drop in Class A space (BOA tower square footage is greater than ADP office footage) as well as a drop in the vacancy rate. It if goes below 10%, especially below 8%, you begin to see talk about building a new tower. At this point, you have four potential spots in downtown: 

1. Empty lot on St. Pauls between City Hall & Plume.

2. & 3 The newly demolished courts area by City Hall. Two lots for potential buildings.

4. Third anchor site for the mall on Monticello & Freemason.

The Norfolk 2020 plan has towers for each site (mixed use residential/office for mall site) so we will see what is proposed in the upcoming months.

1. Empty lot on St. Pauls between City Hall & Plume.

I see this as the prime spot for a developer to build an office tower.

2. & 3 The newly demolished courts area by City Hall. Two lots for potential buildings.

I see this as government owned and wanting to keep this area as a court/governmental complex/campus.

4. Third anchor site for the mall on Monticello & Freemason.

I see this as mixed-use or residential and not completely office.

Would love to see a new office tower anywhere in the DT core, but I give the nod to the St. Pauls lot.

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15 hours ago, carolinaboy said:

1. Empty lot on St. Pauls between City Hall & Plume.

I see this as the prime spot for a developer to build an office tower.

2. & 3 The newly demolished courts area by City Hall. Two lots for potential buildings.

I see this as government owned and wanting to keep this area as a court/governmental complex/campus.

4. Third anchor site for the mall on Monticello & Freemason.

I see this as mixed-use or residential and not completely office.

Would love to see a new office tower anywhere in the DT core, but I give the nod to the St. Pauls lot.

The empty lot on St. Pauls, "Snyder Lot" is my preferred location for a new office tower. The now vacant city land where the old courts building was is prime for a new tower. The city will consider selling this parcel if the proposal is right. The 3rd anchor lot on Monticello would be perfect for a mixed use building.....3 or 4 floor department store, office space and apartments and condos on top!

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Here is a second story about this project revealing the people behind the initiative. 

The story was updated to report that Norfolk City Council voted in favor of the hotel plan.

http://pilotonline.com/news/government/politics/local/a-vision-in-glass-norfolk-s-planned-art-themed-hotel/article_3f305ab1-cf70-5037-b8c3-4b65d15d676f.html

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That's some serious financial backing. This probably gets done.

Great re-use of a beautiful, iconic building that is part of the DT Norfolk urban fabric. Also great to hear about the art inclusion. DT Norfolk right now is on fire!

The leaning building to the south of this would be a great place for a new (remove the old building for obvious reasons) high-rise residential tower. I'm looking at you Buddy Gaddams.

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1 hour ago, carolinaboy said:

That's some serious financial backing. This probably gets done.

Great re-use of a beautiful, iconic building that is part of the DT Norfolk urban fabric. Also great to hear about the art inclusion. DT Norfolk right now is on fire!

The leaning building to the south of this would be a great place for a new (remove the old building for obvious reasons) high-rise residential tower. I'm looking at you Buddy Gaddams.

Yes I'm fairly certain that this project will happen, and it will be a great addition.

As far as the "leaning tower"; I think it is a great site for either office or residential. I'm not sure if the original building is salvageable though. 

I think Buddy Gadams has his hands pretty full now with buildings going up, and the upcoming renovation of the BOA building (Icon at City Walk.) It would not surprise me if Cordish decides to enter the downtown residential market soon. If they are rebuffed at the Waterside annex site, perhaps this parcel could come into play for them.

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I remember when the city said they will only allow a signature Tower to be developed on the st. Paul's property

On 6/14/2016 at 8:13 AM, lil-bear said:

The empty lot on St. Pauls, "Snyder Lot" is my preferred location for a new office tower. The now vacant city land where the old courts building was is prime for a new tower. The city will consider selling this parcel if the proposal is right. The 3rd anchor lot on Monticello would be perfect for a mixed use building.....3 or 4 floor department store, office space and apartments and condos on top!

I remember when the city said they will only allow a signature Tower on this property.  I am referring to the st. Paul's property.

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Work on this project has begun. A construction barrier fence is up in front of both the Royster Bldg. and it's neighbor. 

The Marriot Autograph is going to be very nice. The Royster Bldg. is beautiful, and is one of my favorite older buildings downtown.

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As you can see by my profile pic, The Royster is my favorite building in town. I'm really glad to see that it'll be used as a boutique hotel and glass art exhibit. I hope they can make that building shine.

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On 4/7/2017 at 9:09 AM, Arctic_Tern said:

As you can see by my profile pic, The Royster is my favorite building in town. I'm really glad to see that it'll be used as a boutique hotel and glass art exhibit. I hope they can make that building shine.

Same here, when I use to live in VB, this was the one building in downtown Norfolk that I admired the most architecturally.

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I saw the first branding for this project this morning at the construction site. This is really going to be a great addition to downtown!20170918_104108.thumb.jpg.534e5abdee53641db0692b647831edfe.jpg

Edited by NFKjeff
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