Block 2 Tower (Proposed)

[mintscraft56]

Hey! Look what I found! This looks more like it! Maybe town center, Virginia beach will grow to this extent? Or....only in a dream world.....?
A town center this size would compete with downtown Norfolk or, work together with it to make a better area. 

Edited August 9, 2022 by mintscraft56

[HRVA]

34 minutes ago, mintscraft56 said:

Hey! Look what I found! This looks more like it! Maybe town center, Virginia beach will grow to this extent? Or....only in a dream world.....?
A town center this size would compete with downtown Norfolk or, work together with it to make a better area. 

This is probably 2010ish conceptual. The company that put this together is now essentially Saunders Crouse Architects & they are still very active in the region’s urban developments if you want to look them up. 

[baobabs727]

Exactly. 

MEH!

I have been listening to and reading those A/H  conference calls for several years now, and this was the strangest, most bizarre, most verbose, most convoluted one I’ve ever heard. It felt like they were putting on a big show whilst saying absolutely nothing. Totally on purpose, imho.  Total bull.  And no one asked any good, probing development questions. Never seen that before either.  If any of the callers had done their homework, they would’ve known about the recent Pilot  article covering City Council’s vote to extend the option on block two …and Divaris’ recent pronouncement re: TC office occupancy @98%. WTH?

Just consider Armada Hoffler, for the time being, in HR, to be primarily a multi-family developer. They just follow the money. I get it, but They are being greedy with that block and are using their local, insider connections to Council to allow them to persist in this charade. Meanwhile, the City loses. 
 

 

[urbanvb]

Maybe they’re  “afraid” of development across the street at Pembroke Place. To be sure there is room enough for both to exist, to expand and build. I just don’t get it.

[vdogg]

11 hours ago, urbanvb said:

Maybe they’re  “afraid” of development across the street at Pembroke Place. To be sure there is room enough for both to exist, to expand and build. I just don’t get it.

I'm hoping that Pembroke eats all their lunch and their snacks too. There was definitely an office tower planned in later phases at Pembroke, I say they walk up to all those tenants who want to expand now and make them an offer. I'm over Armada Hoffler. Time to stop allowing them to take up valuable land.

[varider]

Pembroke Square office tower ftw 

[urbanlife]

On 8/10/2022 at 5:30 AM, vdogg said:

I'm hoping that Pembroke eats all their lunch and their snacks too. There was definitely an office tower planned in later phases at Pembroke, I say they walk up to all those tenants who want to expand now and make them an offer. I'm over Armada Hoffler. Time to stop allowing them to take up valuable land.

Who does Armada Hoffler think they are? Taco Bell?

[vdogg]

On 2/13/2022 at 7:27 PM, metalman said:

https://seekingalpha.com/amp/article/4486111-armada-hoffler-properties-inc-ahh-ceo-lou-haddad-on-q4-2021-results-earnings-call-transcript
 

found this meeting transcript from 3 days ago about Q4 2021 earnings. A couple paragraphs of note-

 

2022 has come and gone. I believe the block 2 option expires this year. I do NOT support another renewal. City council needs to cut ties and find another developer.

[vdogg]

So, going over the last earnings call just to see if I can divine anything from the tea leaves, and it sure does feel like they just plan on sitting on this block in perpetuity. No real sense of urgency. I think it's time for council to make their own move...

"Sure. Yes, I think there's no shortage of opportunities out there, as you would imagine. And so we're seeing a lot of deal flow. To Lou's point back on the redevelopment, we are happy to collect rent and watch construction prices kind of stabilize or come down. That helps, obviously, the yield and helps our business case. In terms of ground-up development, here in Town Center, we have, as you know, Rob, an opportunity for a site here show the opportunity arises to develop a mixed-use building. We've been calling that parcel our block."