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Suffolk Development news


vdogg

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First off, don't get excited about the field of dreams announcements from Cities in regards to their technology parks. Everyone has got one. Chesapeake has one off of Battlefield, home of a call center for Panasonic? Virginia Beach's has a call center for Geico... The new one in Hampton I haven't kept up with (Magruder near LaRC? There was supposed to be some huge building but I don't know if it's been completed).

The cities build these things then try to attract new companies. But perhaps too much investment is going into residential real estate speculation, versus oh I dunno perhaps funding companies that CREATE JOBS.  Many of them are fairly empty.

If you look at the HREDA and some of those groups, they really haven't attracted much in the way of real jobs.

In terms of condo conversions, I keep seeing people from other markets claim that is the signal of the end of a bull RE market.

<{POST_SNAPBACK}>

How do you build an open tract of land? That's Corporate Landing, where Geico is. Anyway, call centers are moving to India and eastern Europe. Few cities build spec buildings (no signed tenants). Portsmouth did that but only because developers weren't willing to build in that city unlike in VB, Cpeake and Norfolk. Find me a spec building in VB. Suffolk doesn't really need them either since they are the new frontier in terms of large cheap industrial-zoned tracts.

So when is this bull RE market gonna end? When it does, HR is not in line for a correction (until Oceana ships out) since its home prices are reasonable in terms of wage multiple. HR isn't LA or Boston not is it Des Moines or Indy.

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And I am a former employee of the formentioned Joint Forces Command. Myself and coworkers were not that highly paid by our contractor (HUGE multinational corporation that counts profits with a ticker on their webpage that counts in billions). Not paid well enough to keep up with the cost of living adjustments. That is why I left. People I know that work for other companies now are trying to push for better pay but not seeing it yet. Generally you have to play the game and hop contractor to contractor to work your salary up.

But many of those contractors there are stingy with the purse strings. I'm sure they bill high for the positions then pocket the money.

Expansion though, there is. There is a large building called J7, then the smaller building called J9 which recently had a 2nd floor added. the hag Precision Bearing building was taken over, and is no JFCOM property. There is also a small machine shop that held out for a long time. I've heard they got bought out as well (wonder what they pocketed?) so that whole area now belongs to JFCOM. Then down the road at Bridgeways there exists the new SAIC facility and Lockheed facility. While it's high paying jobs and everything, do remember that it's all funded by defense spending. Finally when someone decides to do something about the enormous federal debt there could be constrictions in the postitions out there.

I am happy to see tech jobs.

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An article in today's Pilot says that Pitchkettle Road is Suffolk's next frontier. The area is a growth corridor near downtown. There are plans for two upscale shopping centers and a 135-home subdivision. They are even hoping to get tenants in the likes as Bed Bath and Beyond, Barnes and Noble, coffee chains, sit-down restaurants, a high end grocery store and possibly a small movie theater.

Wow, that sounds ambitious. :shades:

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An article in today's Pilot says that Pitchkettle Road is Suffolk's next frontier. The area is a growth corridor near downtown. There are plans for two upscale shopping centers and a 135-home subdivision. They are even hoping to get tenants in the likes as Bed Bath and Beyond, Barnes and Noble, coffee chains, sit-down restaurants, a high end grocery store and possibly a small movie theater.

Wow, that sounds ambitious. :shades:

I'll have to see renderings before I pass judgement. The subdivision just sounds like the beginning of suburban sprawl to me. Honestly, it sounds like they may be trying to turn that corridor into another greenbrier.

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They could easily do something uniquely Suffolk.

I agree but I don't view that as likely from the sound of things. I actually wouldn't mind seeing something like the Peninsula Town Center there, I think something like that would work well in Suffolk. I just don't want to see rampant strip malls dotted with run of the mill suburban store fronts. I think Suffolk would do well if they emphasize their historic charm in one of these large scale developments.

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I agree but I don't view that as likely from the sound of things. I actually wouldn't mind seeing something like the Peninsula Town Center there, I think something like that would work well in Suffolk. I just don't want to see rampant strip malls dotted with run of the mill suburban store fronts. I think Suffolk would do well if they emphasize their historic charm in one of these large scale developments.

I think there is a natural evolution to these types of things. Suffolk would have a hard time going upward rather than outward right now, but by comparison, VB has gone through its major growth phase and we are seeing upward movement now. Chesapeake is about where VB was 15 years ago in terms of land usage, and so in perhaps another 15 years we'll start to see Chesapeake move upward. Suffolk is still really only 5 years or so into its fast growth phase, and has extra hinderance due to the fact that it is less centrally located than the other Southside cities. Its not coincidence that the first place to see major new housing growth was the very northeastern tip of the city next to the interstate, but I do think eventually a mid-rise (5-10 stories) downtown sector is very doable, but I don't ever envision skyscrapers in DT Suffolk.

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Look what's coming to Suffolk! :yahoo:

Suffolk News Herald

Wow, i didn't see this. Here's another article on this project Mixed use Obici place project

SUFFOLK - City officials have tapped a developer to build a $45 million to $50 million project combining condos, offices, restaurants and a movie theater on the site of the former Obici Hospital near downtown.

btw, welcome to the forum. :thumbsup:

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