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Block 2 Tower (Proposed)


vdogg

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12 hours ago, Lluck002 said:

Armada Hoffler continues to invest in the Harbor Point development in Baltimore. It was reported that they’re acquiring the existing Exelon tower there and I think they’re building a couple of the midrises. I would be happy with any of these towers on Block 2 in Virginia Beach Town Center. Heck, flesh out the adjacent Columbus Village parcels with all of these!

As someone noted previously, Town Center’s newer development has started to take on a more modern feel. Mixed with the original architecture that was a little more classic, it feels like a true dynamic urban center that was developed organically, evolving over time. A few modern towers similar to these dotted throughout the Town Center area would mix so well with the existing towers to create a distinctive skyline.

One can dream, I suppose, but I really think at least Block 2 needs something substantial and modern. I’m gonna scream if it’s not at least taller than the Clark Nexsen Tower, haha.

3A420B7F-AD68-48A6-9965-BB10FB49B987.jpeg

I would imagine that Armada Hoffler will put most of their investment in Baltimore for the next couple years.  With them announcing that they will be building the T Rowe Price HQ with additional development land surrounding it they are likely trying to attract more businesses to join T Rowe Price.

On the bright side, the amount of available office space in Town Center has gone down a fair amount within the last couple of months.

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11 hours ago, OffToMars said:

I would imagine that Armada Hoffler will put most of their investment in Baltimore for the next couple years.  With them announcing that they will be building the T Rowe Price HQ with additional development land surrounding it they are likely trying to attract more businesses to join T Rowe Price.

On the bright side, the amount of available office space in Town Center has gone down a fair amount within the last couple of months.

Such a shame that we gave them that extension just for them to drag their feet yet again. If we're not their priority, then they shouldn't be our priority either. No more extensions. Sell that land to another developer, preferably Pembroke, and move on.

 

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On 1/13/2022 at 6:06 AM, mintscraft56 said:

That taco bell is Invincible. I swear one TC grows to engulf the surrounding areas of shopping locations the taco bell will still be there.

At the Virginia Beach Department of Planning & Community Development, we call that particular Taco Bell, “Taco Hell” because it’s on such prime real estate in zoning that allows for virtually unlimited height and density on a prominent corner of a busy intersection. It’s probably the absolute worst use of land for that parcel.

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On 1/15/2022 at 7:23 AM, Lluck002 said:

At the Virginia Beach Department of Planning & Community Development, we call that particular Taco Bell, “Taco Hell” because it’s on such prime real estate in zoning that allows for virtually unlimited height and density on a prominent corner of a busy intersection. It’s probably the absolute worst use of land for that parcel.

They make good money though.

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  • 4 weeks later...
2 hours ago, OffToMars said:

I would definitely think that this tower is going to be significant considering it now will have parking, multifamily, and office.

I hope I’m wrong but I think it’s more likely the multifamily fills the office floors that aren’t preleased. I don’t see much demand for speculative office space anytime soon. 

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6 hours ago, metalman said:

But with Haddad’s quote in my previous post saying that they are 90 something percent filled and office tenants are looking to expand, wouldn’t that speak to the contrary?  

“A few tenants” So they’ll get these tenants their larger spaces in the new building and need to backfill their old spaces. I just don’t see the inclusion of multifamily in what had long been proposed as strictly an office building as an indication of strength for office demand. I do think it’s better as a mixed-use tower though. 

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On 2/19/2022 at 11:04 PM, HRVA said:

I hope I’m wrong but I think it’s more likely the multifamily fills the office floors that aren’t preleased. I don’t see much demand for speculative office space anytime soon. 

I wouldn’t mind a true residential skyscraper in Hampton Roads though. Residential is in high demand and a nice modern residential tower that’s slim and tall with a glass facade would be really cool on this parcel. Still obviously with a mix of uses like retail on the ground floor and maybe a hotel. It could be a trendier, more modern glassy version of the Westin. 450-750 feet in height, please :)

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  • 2 months later...

Don’t forget that AH has had a series of multi-year, renewed options on this parcel. The City is tired of waiting to some degree and is pushing AH to produce or get off the pot. We all know that if this were another market, a bigger, hotter market, some outside developer would’ve likely come along and proposed something to the City by now. Give AH a run for their money!   Hope springs eternal, lol.  Truly,  I don’t care who develops this thing. I’m just looking for something iconic, sleek, shimmering and trend-setting. Maybe a boutique hotel with retail and residential.

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  • 2 months later...
  • 2 weeks later...

This thing is as dead as a door nail. If they were serious, instead of asking clients to downsize (tf?), they would be trying to woo them to the new tower. The statement below seems to be a very long and nebulous way of saying that they're not going to do anything. We have one more quarterly report before the end of the year. They said they would announce something before the end of this year. If they do not, it's time to move on. Hopefully there are people on council that are telling them that they are by no means a lock to develop the rest of that area, and that they will go with someone else if Armada Hoffler fails to perform.

"In Virginia Beach, our asset management team recently met with over 35 of our largest Town Center office tenants representing nearly 600,000 square feet, hoping to find someone willing to relinquish some space to accommodate other tenant's expansion plans. We found two companies who may be willing to shrink their footprint in 2023. The vast majority are standing pat and cited the mixed-use environment as key to their recruiting and retention efforts. We also found seven more tenants who are hoping we can accommodate future expansion plans.

Facts are facts, and the fact is the flight to quality thesis continues to be proven by the outperformance of our office assets in Baltimore's Harbor Point and Virginia Beach's Town Center. Not surprisingly the retail and multifamily assets in these locations are performing similarly. The synergistic aspects of our mixed-use environments create a whole that is greater than the sum of their parts."

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