Foundry Park - CoStar HQ

[KJHburg]

was this CEO the one who said this would be the tallest building in the commonwealth or was it one of his minions?   I mean I hope it was him who said it or he would have fired them for the snafu. 

And the only reason I have posted this as this is big story in the commercial real estate world and stories are appearing in every newsletter email I get. 

[I miss RVA]

5 hours ago, KJHburg said:

this is getting stranger by the day with Costar working environment.   do any of you know people who work there?  how much of this is true?   

https://commercialobserver.com/2022/02/costar-boosts-virginia-hq-security-in-response-to-meme-page/

https://www.curbed.com/2022/02/costar-real-estate-employees-quit.html  the CEO's example of why you need to go back into the office is very strange...

Since the company is reportedly worth $26 billion, the anonymous worker who was canned should file a $26 billion lawsuit just to be a thorn in CoStar's side. Sure - it would get laughed out of court as frivolous - but who knows what can of worms it might open up?  And yes, you read correctly - billion.

Edited February 24, 2022 by I miss RVA

[HRVA]

1 hour ago, KJHburg said:

was this CEO the one who said this would be the tallest building in the commonwealth or was it one of his minions?   I mean I hope it was him who said it or he would have fired them for the snafu. 

It was him. After reading the story the whole elevation thing is less surprising. 

1 hour ago, I miss RVA said:

Since the company is reportedly worth $26 billion, the anonymous worker who was canned should file a $26 billion lawsuit just to be a thorn in CoStar's side. Sure - it would get laughed out of court as frivolous - but who knows what can of worms it might open up?  And yes, you read correctly - billion.

CoStar is known for being very litigious. Wouldn’t be surprised if they’re already working on a case against the former employee. 

[Downtowner]

Not sure how many people look at the tallest buildings in Richmond page on Wikipedia but looking at proposed tallest it has costar at 155 meters tall which is the height above sea level. I just chuckle at that whoever put that on there when editing that Wikipedia page. 

[I miss RVA]

2 hours ago, Downtowner said:

Not sure how many people look at the tallest buildings in Richmond page on Wikipedia but looking at proposed tallest it has costar at 155 meters tall which is the height above sea level. I just chuckle at that whoever put that on there when editing that Wikipedia page. 

Yeah... wow... Well, I give whoever edited the Wikipedia page credit for trying, even through they didn't really do their homework.

So when is this bad boy supposed to break ground? It's March already - and it seems like Pinecrest is going to be the first highrise out of the gate for 2022. Plus - there's been movement paperwork-permit-wise for the Bakery Lofts ...  I wonder what's doing with the Admiral and with the Block D project? I'm still holding onto hope we see ground broken for six or seven of the known highrise projects during the course of this year.

Edited March 5, 2022 by I miss RVA

[eandslee]

I think CoStar will be breaking ground this summer (sooner if we’re lucky)!  Really excited to see this one go up.  This is really going to add to the skyline and just the overall feel downtown (hopefully more people moving around).  
 

I think Parc View (Pincrest) will break ground first with Block D soon thereafter. Really hoping a webcam is online soon for both projects, so put out your feelers online and find the webcams!  They are my lifeline!  Finally, hoping for a skyline full of cranes by the end of the year!

[I miss RVA]

1 hour ago, eandslee said:

I think CoStar will be breaking ground this summer (sooner if we’re lucky)!  Really excited to see this one go up.  This is really going to add to the skyline and just the overall feel downtown (hopefully more people moving around).  
 

I think Parc View (Pincrest) will break ground first with Block D soon thereafter. Really hoping a webcam is online soon for both projects, so put out your feelers online and find the webcams!  They are my lifeline!  Finally, hoping for a skyline full of cranes by the end of the year!

Amen!! Regarding all of those prognostications - and in particular that last line about a skyline full of cranes. Indeed, from your keyboard to God's eyes, my friend! 

Re: Block D:  How far along are crews on the pre-demo prep that needs to be done before the Public Safety Building can be taken down? I'm sure the asbestos cleanup alone is taking a load of time. If I recall, that process started back in November, no?

Edited March 6, 2022 by I miss RVA

[Icetera]

On 3/5/2022 at 4:08 PM, Downtowner said:

Not sure how many people look at the tallest buildings in Richmond page on Wikipedia but looking at proposed tallest it has costar at 155 meters tall which is the height above sea level. I just chuckle at that whoever put that on there when editing that Wikipedia page. 

Looks like someone from Hampton Roads updated it based on info at the time.  Corrected now.

[blake_p]

The Costar pedestrian plaza design went before the Urban Design Committee this morning:

http://richmondva.legistar.com/gateway.aspx?M=F&ID=9e683f2b-6911-4867-bb2e-8e412c969e90.pdf

No new renderings, but you can see some of the building layout.

[asies]

7 minutes ago, blake_p said:

The Costar pedestrian plaza design went before the Urban Design Committee this morning:

http://richmondva.legistar.com/gateway.aspx?M=F&ID=9e683f2b-6911-4867-bb2e-8e412c969e90.pdf

No new renderings, but you can see some of the building layout.

In the planning documents they list the tower as 21-stories instead of the previously reported 26. I'm not sure how that will impact the previously reported building height. They could have made some floor height adjustments and will still end up at 425 feet but with fewer overall floors. I guess we will have to wait and see.

[I miss RVA]

50 minutes ago, blake_p said:

The Costar pedestrian plaza design went before the Urban Design Committee this morning:

http://richmondva.legistar.com/gateway.aspx?M=F&ID=9e683f2b-6911-4867-bb2e-8e412c969e90.pdf

No new renderings, but you can see some of the building layout.

Wait, WHAT????

I'm sorry - have they shaved five floors off of this building???  Is there someone who can be contacted for some answers on this?

Edited May 5, 2022 by I miss RVA

[blake_p]

23 minutes ago, I miss RVA said:

Wait, WHAT????

I'm sorry - have they shaved five floors off of this building???  Is there someone who can be contacted for some answers on this?

5 floors sounds like the difference between Tredegar and Byrd Streets.  Could it be that the 26 is counting from Tredegar and 21 is counting from Byrd.  OR something to do with parking levels?  Page 21 has a label "LEVEL 1 / P5" and that could be the difference.

[I miss RVA]

10 minutes ago, blake_p said:

5 floors sounds like the difference between Tredegar and Byrd Streets.  Could it be that the 26 is counting from Tredegar and 21 is counting from Byrd.  OR something to do with parking levels?  Page 21 has a label "LEVEL 1 / P5" and that could be the difference.

That's very possible. Maybe they're counting 21 "occupiable" floors - but it's still a 26-story tower when you include five levels of parking. I noticed that the rendering of the overall campus shown in the filing with the city is exactly the same rendering shown at the December press conference - and the CoStar tower is clearly taller than the Fed tower.

Idk - I'm getting VERY wary and ancy right now with all the cutbacks, truncations and downsizing of projects around RVA - given 512 Hull and Block D. I've more or less held out hope that CoStar would be quite immune.

My BP is going through the roof over these cutbacks. 

Edited May 5, 2022 by I miss RVA

[DowntownCoruscant]

7 minutes ago, I miss RVA said:

That's very possible. Maybe they're counting 21 "occupiable" floors - but it's still a 26-story tower when you include five levels of parking. I noticed that the rendering of the overall campus shown in the filing with the city is exactly the same rendering shown at the December press conference - and the CoStar tower is clearly taller than the Fed tower.

Idk - I'm getting VERY wary and ancy right now with all the cutbacks, truncations and downsizing of projects around RVA - given 512 Hull and Block D. I've more or less held out hope that CoStar would be quite immune.

My BP is going through the roof over these cutbacks. 

It’s worth noting that 26-21 = 5, and that 5 out of 26 is 19.2% or about 20%.
 

The UP Rule of Thumb strikes again.

[I miss RVA]

36 minutes ago, DowntownCoruscant said:

It’s worth noting that 26-21 = 5, and that 5 out of 26 is 19.2% or about 20%.
 

The UP Rule of Thumb strikes again.

Yep - I seem to recall that the UP Rule of Thumb is, indeed, 20%. 

[wrldcoupe4]

Nothing has changed. Good news on this submittal!

[123fakestreet]

2 hours ago, asies said:

In the planning documents they list the tower as 21-stories instead of the previously reported 26. 

Rising sea levels made the relative height shorter

[I miss RVA]

10 minutes ago, 123fakestreet said:

Rising sea levels made the relative height shorter

Wow - first the pandemic killed 512 Hull - now climate change is inducing "shrinkage" in CoStar feet. (CoStar stories?).

Maybe at the presser in December we should've decoded the language - because it's clear that 512 feet in CoStar height is really 426 feet in actual height ... and 26 stories in CoStar floors are really 21 stories in actual floors...

25 minutes ago, wrldcoupe4 said:

Nothing has changed. Good news on this submittal!

Wait - nothing has changed. How'z that, Coupe? Was this building 21 stories tall all along? IF so, why has it been touted to the media as a 26-story building? Or is it 21 occupiable floors plus five levels of parking - total - 26-story tower?

Help me understand, my friend!  BTW - I'm also very happy that the paperwork has been filed!

Edited May 5, 2022 by I miss RVA

[wrldcoupe4]

It’s always been the office floors plus the parking. As a comparison, Gateway Plaza has 19 floors but there is no 13 and 2-7 are parking.  Y’all need to chill.  Last thing, as much as people here harp on Richmond being Richmond, the quick to criticize and discount is equally very Richmond, some may say. 

Edited May 5, 2022 by wrldcoupe4

[I miss RVA]

48 minutes ago, wrldcoupe4 said:

1.) It’s always been the office floors plus the parking. As a comparison, Gateway Plaza has 19 floors but there is no 13 and 2-7 are parking.  

2.) As much as people here harp on Richmond being Richmond, the quick to criticize and discount is equally very Richmond, some may say. 

Thanks, Coupe.  As always, yours is the voice of sanity and reason around here.

1.) Good to know. Exhaling some. 

2.) As Style Weekly used to say - "You're very Richmond if... " 

[Shakman]

From our insanity to your keyboard.  Thanks for the scoop Coupe.  

[asies]

19 hours ago, wrldcoupe4 said:

Nothing has changed. Good news on this submittal!

Looking at the filing everything looked the same. That makes sense that the 21 floors was just focusing on the commercial office floors.

[eandslee]

1 minute ago, asies said:

Looking at the filing everything looked the same. That makes sense that the 21 floors was just focusing on the commercial office floors.

Plus, the rendering seems to show a "healthy" crown on top of the tower that would look cool if lit up at night.  So, I'm thinking that this is still 425 feet and that nothing has changed.  I'm excited to see ground broken very soon on this.  If anything (since CoStar is gobbling up more real estate), they should expand the tower taller to add more space.  We'll see what actually happens though.

[I miss RVA]

1 hour ago, eandslee said:

So, I'm thinking that this is still 425 feet* and that nothing has changed.  

* - 512 feet in CoStar height.

Edited May 6, 2022 by I miss RVA

[wrldcoupe4]

19 hours ago, eandslee said:

Plus, the rendering seems to show a "healthy" crown on top of the tower that would look cool if lit up at night.  So, I'm thinking that this is still 425 feet and that nothing has changed.  I'm excited to see ground broken very soon on this.  If anything (since CoStar is gobbling up more real estate), they should expand the tower taller to add more space.  We'll see what actually happens though.

Would be nice, although 2 things: we don’t know their long term plans for the Manchester space. Maybe it’s just swing space for a few years? And 2, they paid $170/SF for that building. Their new building will probably be north of $600/SF to build and more expensive if you go taller. It’s so much cheaper to not go taller.