urbanvb

Hampton Roads Housing/Real estate/and Economy

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nA condominium development atop the planned Westin Hotel at Town Center in Virginia Beach: 104 units.

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I wish the pilot could make up it's mind about this project. Now it's back to 104 after it was just raised to 120?

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I wish the pilot could make up it's mind about this project. Now it's back to 104 after it was just raised to 120?

<{POST_SNAPBACK}>

We won't find out till the project is actually started construction. The HH project is now a 15 stories and we were told its was 17 stories

Edited by rusthebuss

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Well this area is just starting to look beyond the military as a cash cow now. Once this area becomes more of a  business haven you might see things like this appear in the area. Just like the possibilities of pro sports to the area, this will be the production of the great businesses settling into this area!

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Yeah, but our infastructure is so far behind the standard for normal cities that we are not going to get out of the military's grasp for yeras and years to come. The military still crowds our ports which definitely makes businesses look away and we dont have any major highway connections to any major cities except richmond. We need to fix our infastructure and then pro-sports and great businesses will come.

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Yeah, but our infastructure is so far behind the standard for normal cities that we are not going to get out of the military's grasp for yeras and years to come.  The military still crowds our ports which definitely makes businesses look away and we dont have any major highway connections to any major cities except richmond.  We need to fix our infastructure and then pro-sports and great businesses will come.

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Actually we have no connection to Major cities in the Northeast. I-64 passes directly through Louisville Kentucky, St. Louis, Mo. and hopefully the stupidly named I-70 will eventually be named I-64, which will pretty much put us in line with Kansas City, Mo. and Denver, Co. But I understand where you are coming from. Being on the coast has it's disadvantages. But, remember San Fransisco really has no direct access to Interstate 5 nor does San Diego, doesn't seem to hurt business much. It's all about marketing, and our area has spent more time bickering between each other that we've missed out on alot of opportunities. But things are turning now. With the addition of the fourth cargo port, we will surpass New York City as the largest cargo area on the East Coast, second only to L.A. I can garuntee that its turning heads and business see this area as a gold mine waiting to happen. The port will be the future of this area, bringing fortune 500's with it.

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Actually we have no connection to Major cities in the Northeast.  I-64 passes directly through Louisville Kentucky, St. Louis, Mo. and hopefully the stupidly named I-70 will eventually be named I-64, which will pretty much put us in line with Kansas City, Mo. and Denver, Co.  But I understand where you are coming from.  Being on the coast has it's disadvantages.  But, remember  San Fransisco really has no direct access to Interstate 5 nor does San Diego, doesn't seem to hurt business much.  It's all about marketing, and our area has spent more time bickering between each other that we've missed out on alot of opportunities.  But things are turning now.  With the addition of the fourth cargo port, we will surpass New York City as the largest cargo area on the East Coast, second only to L.A.  I can garuntee that its turning heads and business see this area as a gold mine waiting to happen.  The port will be the future of this area, bringing fortune 500's with it.

<{POST_SNAPBACK}>

I really hope that you are right. Imagine what our population will be in twenty years.

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Actually we have no connection to Major cities in the Northeast.  I-64 passes directly through Louisville Kentucky, St. Louis, Mo. and hopefully the stupidly named I-70 will eventually be named I-64, which will pretty much put us in line with Kansas City, Mo. and Denver, Co.  But I understand where you are coming from.  Being on the coast has it's disadvantages.  But, remember  San Fransisco really has no direct access to Interstate 5 nor does San Diego, doesn't seem to hurt business much.  It's all about marketing, and our area has spent more time bickering between each other that we've missed out on alot of opportunities.  But things are turning now.  With the addition of the fourth cargo port, we will surpass New York City as the largest cargo area on the East Coast, second only to L.A.  I can garuntee that its turning heads and business see this area as a gold mine waiting to happen.  The port will be the future of this area, bringing fortune 500's with it.

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I'm with Urbanfan. Maserk(sp?) is gonna be HUGE for this area. its gonna being tons of new busniess to the area. we just have to invest in some property and sit back and watch. give us 10 years, we will rival Charlotte as they are today.

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Actually we have no connection to Major cities in the Northeast.  I-64 passes directly through Louisville Kentucky, St. Louis, Mo. and hopefully the stupidly named I-70 will eventually be named I-64, which will pretty much put us in line with Kansas City, Mo. and Denver, Co.  But I understand where you are coming from.  Being on the coast has it's disadvantages.  But, remember  San Fransisco really has no direct access to Interstate 5 nor does San Diego, doesn't seem to hurt business much.  It's all about marketing, and our area has spent more time bickering between each other that we've missed out on alot of opportunities.  But things are turning now.  With the addition of the fourth cargo port, we will surpass New York City as the largest cargo area on the East Coast, second only to L.A.  I can garuntee that its turning heads and business see this area as a gold mine waiting to happen.  The port will be the future of this area, bringing fortune 500's with it.

<{POST_SNAPBACK}>

Actually, the 5 runs through downtown San Diego. The 15 also ends there (it goes to Vegas then to Salt Lake City). The 8 goes to Tuscon where it connects with the 10. San Fran is on I-80 whereever that goes. Anyway, HR would benefit if US 17 turned into a limited access highway (not sure if that is what they're doing) all the way to Route 64 in NC. I know Route 64 is limited access between I-95 and Raleigh and I think it is up to Williamston where it meets US 17. That would give HR a direct limited access connection to Raleigh instead of the current 58-95 route. Of course, 460 is also a priority and would benefit the state if improved all the way to Roanoke.

As for the ports, HR has quite a ways to go to catch up to NYC/NJ. The main advantages for HR is there are no environmental issues with dredging the Bay channels and Craney Island is a certified and expandable spoil disposal site. I think that this year HR has passed Charleston in TEUs to place 5th in the US. Here's a link to a pdf table of 2004 North American port stats from the American Association of Port Authorities:

2004 Port Stats

But I think I'm getting off topic now.

Edited by hoobo

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Actually, the 5 runs through downtown San Diego.  The 15 also ends there (it goes to Vegas then to Salt Lake City).  The 8 goes to Tuscon where it connects with the 10.  San Fran is on I-80 whereever that goes.  Anyway, HR would benefit if US 17 turned into a limited access highway (not sure if that is what they're doing) all the way to Route 64 in NC.  I know Route 64 is limited access between I-95 and Raleigh and I think it is up to Williamston where it meets US 17.  That would give HR a direct limited access connection to Raleigh instead of the current 58-95 route.  Of course, 460 is also a priority and would benefit the state if improved all the way to Roanoke.

As for the ports, HR has quite a ways to go to catch up to NYC/NJ.  The main advantages for HR is there are no environmental issues with dredging the Bay channels and Craney Island is a certified and expandable spoil disposal site.  I think that this year HR has passed Charleston in TEUs to place 5th in the US.  Here's a link to a pdf table of 2004 North American port stats from the American Association of Port Authorities:

2004 Port Stats

But I think I'm getting off topic now.

<{POST_SNAPBACK}>

I remember that somewhere they said we did pass Charleston, SC.

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Actually, the 5 runs through downtown San Diego.  The 15 also ends there (it goes to Vegas then to Salt Lake City).  The 8 goes to Tuscon where it connects with the 10.  San Fran is on I-80 whereever that goes.  Anyway, HR would benefit if US 17 turned into a limited access highway (not sure if that is what they're doing) all the way to Route 64 in NC.  I know Route 64 is limited access between I-95 and Raleigh and I think it is up to Williamston where it meets US 17.  That would give HR a direct limited access connection to Raleigh instead of the current 58-95 route.  Of course, 460 is also a priority and would benefit the state if improved all the way to Roanoke.

As for the ports, HR has quite a ways to go to catch up to NYC/NJ.  The main advantages for HR is there are no environmental issues with dredging the Bay channels and Craney Island is a certified and expandable spoil disposal site.  I think that this year HR has passed Charleston in TEUs to place 5th in the US.  Here's a link to a pdf table of 2004 North American port stats from the American Association of Port Authorities:

2004 Port Stats

But I think I'm getting off topic now.

<{POST_SNAPBACK}>

Rember though that NYC/NJ do not deal with containerized cargo, this is why thier tonage is so much more. We do deal with containerized cargo and still do 1.8 millon teu's. This makes us the second largest port on the east coast, and with the addition of the fourth port, the estimate is that we will take over new York. That is only an estimate. They assume this because New York cannot handle the super container ships that are about to come on line soon. The new port here will, which will likely mean that New York will loose some of its business. While Hampton Roads grows.

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Rember though that NYC/NJ do not deal with containerized cargo, this is why thier tonage is so much more.  We do deal with containerized cargo and still do 1.8 millon teu's.  This makes us the second largest port on the east coast, and with the addition of the fourth port, the estimate is that we will take over new York.  That is only an estimate.  They assume this because New York cannot handle the super container ships that are about to come on line soon.  The new port here will, which will likely mean that New York will loose some of its business.  While Hampton Roads grows.

<{POST_SNAPBACK}>

The stats show NY/NJ handling 4.5 MM TEUs. But anyway, like you said, they can't grow. There's no space and environmental concerns will cut into their dredging schedule and will prevent them from dredging deeper for Post Pana-Max ships. But to bring all this on topic: will longshoremen be able to afford Granby Tower condos? Discuss.

Edited by hoobo

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But to bring all this on topic:  will longshoremen be able to afford Granby Tower condos?  Discuss.

<{POST_SNAPBACK}>

You know, that's a good point. Thinking about just the high end of what's available. The top end units are going for what? Like a million, 2 million buckaroos? Can't you get one of those beachfront mansions in Croatan or up

on the lynnhaven bay for that much? There really a demand for that level of condo in this area?

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You know, that's a good point.  Thinking about just the high end of what's available.  The top end units are going for what?  Like a million, 2 million buckaroos?  Can't you get one of those beachfront mansions in Croatan or up

on the lynnhaven bay for that much?  There really a demand for that level of condo in this area?

<{POST_SNAPBACK}>

Actually they are saying they can't build those high price condos fast enough. We are very behind on building enough housing in the area.

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Actually they are saying they can't build those high price condos fast enough. We are very behind on building enough housing in the area.

<{POST_SNAPBACK}>

Housing in general I don't doubt. Everywhere is apparently. Demand for homes, condos especially, is off the charts these days. But million dollar condos? In an area that took how long to woo a Nordstrom? For the longest time all you heard about the reasons the region gets passed over for so many things was that incomes were too low. There wasn't enough upper class rich guys with money to burn to justify putting such and such boutique in the area. Did the Navy give everyone raises all of a sudden or something, that it seems like suddenly they can't make million dollars condos fast enough? Frank Batten and Missy Elliott can't be buying em all. :P

Edited by sugoiben

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Housing in general I don't doubt.  Everywhere is apparently.  Demand for homes, condos especially, is off the charts these days.  But million dollar condos?  In an area that took how long to woo a Nordstrom?  For the longest time all you heard about the reasons the region gets passed over for so many things was that incomes were too long.  There was enough upper class rich guys with money to burn to justify putting such and such boutique in the area.  Did the navy give everyone raises all of a sudden or something, that it seems like suddenly they can't make million dollars condos fast enough?  Frank Batten and Missy Elliott can't be buying em all. :P

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I think all the developers just assumed that there wouldn't be a market in this area because of the military. I don't think they did a lot of in depth research on it. Now they're seeing projects like Granby almost selling out over night and they're realizing the potential of this area and are now putting forth the effort to research the market some more.

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I think all the developers just assumed that there wouldn't be a market in this area because of the military. I don't think they did a lot of in depth research on it. Now they're seeing projects like Granby almost selling out over night and they're realizing the potential of this area and are now putting forth the effort to research the market some more.

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Yeah I sure hope that's the case. I would hate to see this bubble burst before it grew bigger....

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Yeah I sure hope that's the case. I would hate to see this bubble burst before it grew bigger....

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I really doubt the housing bubble is anywhere close to here. The demand for housing (even minus the high priced condos) is very strong here. And there is only so much room left to build so it is driving everything. I am originally from a small town in NC but land just north of there (prolly 30 mins south of Suffolk) and my Dad was telling me land in rural Gates County is even starting to go up. The sprawl is headed even into the rural areas!! And when I say rural think no Walmart within 30mins either north or south LOL.

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I really doubt the housing bubble is anywhere close to here. The demand for housing (even minus the high priced condos) is very strong here. And there is only so much room left to build so it is driving everything. I am originally from a small town in NC but land just north of there (prolly 30 mins south of Suffolk) and my Dad was telling me land in rural Gates County is even starting to go up. The sprawl is headed even into the rural areas!! And when I say rural think no Walmart within 30mins either north or south LOL.

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To me that's good and bad. Good 'cause development generates taxes and yada yada yada. Bad because "virgin" land is being developed and we all know that developable land isn't unlimited :unsure:

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That area though has tons of farmland. Basically that is all that is there - as of now anyway. And the people that are moving there have good incomes so I would think development would be on the way in the future.

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Please remember that Virginia Beach has an avg household income of 85K

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:blink:

Apparently I've been away too long. Don't think it was that high while I was living there. Granted.... it has been about ten years. :unsure:

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It is crazy for sure. My property has gone up in price an average of $6k a month since January. At that rate I am afraid in the next several years the taxes are going to be beyond my means. I am hoping it will slow down a little but I don't know.

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