645 Church Street (Under Construction)

[mintscraft56]

Decided to make a topic for this, obviously as the story for this land plot grows we can post updates, pictures, or even news stories about it here. Hopefully there will be some more talk about this area soon.

[Norf Native]

Continuing from the St Paul's thread...

From City Council 23 Aug agenda...

"As part of the agreement, the Developer shall commence construction within 60 days after the Closing Date and follow the construction schedule terms. 

The Developer has secured financing with Virginia Housing and is working to close within the next sixty days. Virginia Housing does not accept rights or reverter on their loans, but VH has financing requirements and timelines that will arguably give the city adequate assurances that the project we have negotiated for will be completed".

So, this project will likely break ground before the end of the year.

Edited August 26, 2022 by Norf Native
additional info

[mintscraft56]

On 8/26/2022 at 4:52 PM, Norf Native said:

Continuing from the St Paul's thread...

From City Council 23 Aug agenda...

"As part of the agreement, the Developer shall commence construction within 60 days after the Closing Date and follow the construction schedule terms. 

The Developer has secured financing with Virginia Housing and is working to close within the next sixty days. Virginia Housing does not accept rights or reverter on their loans, but VH has financing requirements and timelines that will arguably give the city adequate assurances that the project we have negotiated for will be completed".

So, this project will likely break ground before the end of the year.

This is great news!

[VBIllini13]

On 8/26/2022 at 3:52 PM, Norf Native said:

Continuing from the St Paul's thread...

From City Council 23 Aug agenda...

"As part of the agreement, the Developer shall commence construction within 60 days after the Closing Date and follow the construction schedule terms. 

The Developer has secured financing with Virginia Housing and is working to close within the next sixty days. Virginia Housing does not accept rights or reverter on their loans, but VH has financing requirements and timelines that will arguably give the city adequate assurances that the project we have negotiated for will be completed".

So, this project will likely break ground before the end of the year.

Not only "likely" to break ground this year, but it must break ground this year because of their timeline of bond approvals with Virginia Housing!

[Norf Native]

"As part of the agreement, the Developer shall commence construction within 60 days after the Closing Date and follow the construction schedule terms. 

The Developer has secured financing with Virginia Housing and is working to close within the next sixty days. Virginia Housing does not accept rights or reverter on their loans, but VH has financing requirements and timelines that will arguably give the city adequate assurances that the project we have negotiated for will be completed".

 

Doesn’t look like they will break ground this year.  

[Gexckos]

[brikkman]

19 hours ago, Gexckos said:

More suburban style development NICE!!!! 

[vdogg]

6 hours ago, brikkman said:

More suburban style development NICE!!!! 

Eh, it’s suburbanish, but still has urban elements. As long as they hide that parking I’m OK with it. Not what I wish for that corner, but could also be worse.

[baobabs727]

Look! A box! 

[BFG]

The only reason I don't really hate it is because it looks like what you see in other major cities. So while I'd like something a little different for downtown, it keeps that urban vibe you'd see elsewhere.

[mintscraft56]

Anyone got pictures of the site?

[varider]