New Richmond Arena

[wrldcoupe4]

Wouldn’t it be on the agenda if they planned to present it?

[eandslee]

Not 100% sure, but it looks like the Navy Hill development is making a move.  Not hearing anything for a while has had me worried...I needed to read this.

https://richmondbizsense.com/2019/07/29/rezoning-applications-show-signs-life-coliseum-redevelopment-plan/

[vaceltic]

How would this work as CM district? If I'm reading the correct zoning ordinance for CM, it says "No building or structure in the CM coliseum mall district shall exceed 80 feet in height."

[wrldcoupe4]

Maybe it's just a rezone for  a portion, not the hotel component for example?

[eandslee]

30 minutes ago, Hike said:

Another little nugget from Bizsense, the developers have set up an office front on Broad Street.  

Future Cities, the Michael Hallmark-led urban design firm that’s sharing master developer duties with Northern Virginia-based Concord Eastridge, has moved its home base from Los Angeles to Richmond via a studio the two firms have set up at 1 E. Broad St.

https://richmondbizsense.com/2019/07/31/broad-st-storefront-serving-ground-zero-coliseum-redevelopment-plan/

That’s pretty serious!  I never knew they were there this whole time!!  It’s time to get this thing rolling.  I’m ready to see some major development downtown (in addition to what we are already seeing)!!  Grow Richmond, grow!

[eandslee]

Interesting article on the two men who will lead the advisory commission on the Navy Hill development.  I don’t know who these dudes are, but they are supposed to be neutral and provide an objective review of the plan.  Not sure how that can happen living in this city - seems everyone has an opinion.  Apparently, they are also to choose 7 others who the City Council has to approve to accompany them on the commission.  If any of you know these guys, what are your impressions?

http://m.richmondfreepress.com/news/2019/jul/26/city-council-appoints-leaders-coliseum-advisory-co/

[eandslee]

The mayor is expected to make a major announcement today on the Navy Hill project!!!!

https://www.richmond.com/news/local/city-of-richmond/stoney-to-make-announcement-about-billion-richmond-coliseum-redevelopment-plan/article_3c6d3b83-8c21-5f19-ab73-995b2f57e6a5.html

[rjp212]

Per RVAhub.com & Richmond.com

Mayor Stoney has announced that the city has completed negotiations with the NH District Corporation on the $1.5 billion dollar plan.  The plan, subject to the approval of city council, will be submitted at a special meeting on Monday 8/5.

Highlights of the negotiated proposal, include:

12,500 jobs in construction and 9,300 permanent jobs

3,000 apartment with 480 affordable housing units (possibly more)

790,000 square feet of office

275,000 square feet of retail/restaurant

$300 million in minority business participation

NEW GRTC bus transit center

Renovated Blues Armory (to be come a food hall and ball room for the hotel)

17,500 - seat New Arena

New 525+ room Hyatt Regency Hotel

 

Edited August 1, 2019 by rjp212

[DalWill]

YES to this! I LOVE IT. 

 

 

[rjp212]

Some additional photos:

 

 

[RVA-Is-The-Best]

That's very nice. It seems like the floor counts in some of those buildings on those lots to the east have increased (it seems to me, maybe not lol).

Only detail that annoyed me slightly was that the total no of apartments went down from 3000 to 2500. But still, this will be a welcome change to the area, the shot to the arm to bring the same energy that's affecting the rest of downtown to this neighborhood

[jbjust]

These are all the photos I saw in the presentation back in May. 

[eandslee]

I really like the design of the arena.  So much better than the other concept design. I love the LED display!  So cool!  I like how the arena is kind of inset into the buildings around it.  Also very cool!  Really hope this comes to fruition!

Looks like there are many more high rises in this version of concept design too.  I can get on board with that.  Love taller in that part of downtown!

Edited August 2, 2019 by eandslee

[Brent114]

It all looks good, still very poor prognosis though.  The financing is a mess and city council seems to be immune to the charms of Stoney and Dominion. 

Part of the financing would come from the state.   Maybe Dominion’s contributions to the GA can pay off but the developers say the math won’t work without the state contribution (which seems pretty unlikely). 

I also just learned that those vacant lots and parking decks all have huge amounts of debt on them (one deck alone has $27 million).  The amount of debt to be paid on the land was not included in the budget.  Attendance and hotel projections were  comically inflated too, and are rightfully being scrutinized. It’s all still pure folly.     

Edited August 2, 2019 by Brent114

[eandslee]

5 minutes ago, Hike said:

Paul, is that you?

Seriously!  Nothing is ever good enough sometimes. 

[DalWill]

20 minutes ago, Hike said:

in a way, this is very Richmond though, oh Richmond, I love you....

 

24 minutes ago, eandslee said:

Seriously!  Nothing is ever good enough sometimes. 

Nope,  people just practicing the art of fear-mongering disguised as observations. Tis is all.

Edited August 2, 2019 by DalWill

[cbl1]

Where does brett get all this financial mess information?   I'm under impression the final version gets released Monday to city council (how did he get early copy and insight into the finances).   I mean the group representing Hyatt doesn't have their finances lined up to actually build the hotel?

When it comes to state - only thing I have heard about state is the below grade road portions …. and from what I remember the grants/funds for that were already approved by the state for bringing back the street grid/grade (there was an article recently about it).

I think the fact that a vast majority of this is private investment makes it a very valuable deal.

 

Edited August 3, 2019 by cbl1
update

[cbl1]

This was article I saw - if intergrated into Navy Hill project the funding would most likely need to be moved up into 2020-2021 financing.

 

https://richmondbizsense.com/2019/07/01/coliseum-plan-intersect-leigh-street-upgrade-project/

[DowntownCoruscant]

Let’s be honest: if you’ve got a stadium/arena development project, and you haven’t presented comically inflated projections, you’re not doing your job. It’s the way the game is played.

You can read Andrew  Zimbalist from the late 90: or him from today; it’s all the same.

Still, I must say the proposed stuff looks cool.

 

[wrldcoupe4]

Documents submitted to council are here:

http://www.richmondgov.com/Mayor/downtown.aspx

This  is the master plan document showing what will be built on the various sites:

http://www.richmondgov.com/Mayor/documents/Tab L - Dev. Ag. Exh. L - Master Plan.pdf

[jbjust]

1 hour ago, wrldcoupe4 said:

Documents submitted to council are here:

http://www.richmondgov.com/Mayor/downtown.aspx

This  is the master plan document showing what will be built on the various sites:

http://www.richmondgov.com/Mayor/documents/Tab L - Dev. Ag. Exh. L - Master Plan.pdf

So now we have actual info and no discussion?!?!  I'm traveling for business, what's y'alls excuse?

[rjp212]

I'm loving the layout.  Plenty of mixed use buildings and I'm really excited to see so many tall buildings!

[RVA-Is-The-Best]

Seeing Block A with the towers built into the arena makes me so happy. Because standalone arenas are such a waste of space otherwise in off-seasons when sports aren't happening that it's sitting there taking up valuable real estate, with these towers and their ground floor retail we're densifying downtown and keeping the block active with constant street engagement

Edit: Block F yo!! Food hall? Yes please, that's the new urban trend, there's a really good one that just opened up in Ballston in their renovated former-mall. Also reminds me of the classical food market spaces like Chelsea Market in NYC or Union Market in DC. If we can get a good food hall downtown, game over. This slideshow is making me giddy when I'm trying to be generally stoic

Edited August 6, 2019 by RVA-Is-The-Best

[Ward Wood]

Yo Block N!!! - I count 20 stories for that multi-family residential!!  Plus sitting on top of the garage, - that thing will have some serious height!

[meegwell]

On ‎3‎/‎19‎/‎2019 at 10:24 PM, Brent114 said:

The deal isn’t dead because it never had life.  

It was never real.  There was zero financial interest in it.  If you recall, not one developer responded to the RFP.  There were no architectural drawings (that weren't essentially Microsoft clip art ).  No businesses expressed an interest.  The only thing Richmond has lost is the adequate, albeit drab, Coliseum (that was once a state of the art arena that had zero economic impact on downtown). 

You want sports? Go to a Kickers game.  The city would be better served building a better soccer stadium (at least people go to see that).  The Squirles first order of business was to eliminate 1/4 of the seating at the Diamond so that games wouldn’t look unattended.   Richmond isn’t a spectator sports town.  It isn't likely to become one in the next 30-40 years either.  Our size and growth is relative.   We aren’t the only growing city and not every metro gets professional sports (what would be the honor in that?).  

I like concerts.  I’m a huge music snob.  The shows that I see out of town are at small venues.  Shows don’t bypass Richmond because there isn’t an arena.  They bypass Richmond because there are only x amount of dates on any given tour.  Geography, prestige and demand drive the tour.  Washington DC looks better on a t-shirt than Richmond.  If you can only have one stop in the area, you’re going to pick DC. 

 

Brent114 - Never had life?  It was never real?   Now that you can't make up your own facts about it not ever being real, and very real it has always been, you switch gears with "financing is a mess"  -  I have 30 years of practical and academic experience in finance and accounting, including public projects...where is this mess you speak of all-knowing one?

(rhetorical question)

Boy this project sure does appear to be alive and well!