Norfolk Development 2

[mlsimons]

I thought a bank branch was going there!

I don't know but I hope Charlie's diner stays...mmm mmm good!

[Ghentite]

So it's false to say that ALL of GT deposits are being refused. What steps did you have to take in order to get it back? A month doesn't seem very efficient, but i've never dealt with escrow in this way before? What type of unit were you down for?

I had a

[mlsimons]

Ok, so does anyone know why the old Price building was torn down, next to Gold's Gym, across from Doumar's?

[Ghentite]

I work out at that Gold's and while it was being torn down about two months ago one of the front desk workers there said it was going to be a skate store...

[vtfan18]

I work out there too and was told it was just going to be additional parking for golds.

[rusthebuss]

I work out there too and was told it was just going to be additional parking for golds.

I heard additional parking. I asked them if they were going to build a swimming pool and basketball courts and they said they didn't want the "basketball" crowd there. I was a little disappointed in that answer

[vtfan18]

By the way...did anyone notice the building just recently torn down on Boush St? Demolition took place yesterday and today. The building is to the right of the Prudential Realty building on Boush as you head toward Ghent.

[Mobius57]

By the way...did anyone notice the building just recently torn down on Boush St? Demolition took place yesterday and today. The building is to the right of the Prudential Realty building on Boush as you head toward Ghent.

Did anyone know about this prior to demo? (out of us of course:P)

[Ghentite]

I work out there too and was told it was just going to be additional parking for golds.

That would be good, they sure do need it.

[vtfan18]

Just wanted to let everyone in on some exciting news. We just broke ground on a new construction single family home where we are pursuing LEED certification. I know we normally don't discuss single family residential projects but thought this was worth sharing with my fellow UP members. If we can acheive certification, it'll be the first LEED certified single family home in Hampton Roads and one of a handful in VA. The project is a great case study for smart/green design combined with low cost construction. Our goal is to be able to incoporate green construction practices into more affordable homes. It's very easy to construct a green home by throwing lots of money toward green features, the hard part is building green on a super tight budget. Anyways...our project was just registered with the USGBC and we poured footers yesterday. We were fortunate with this project because the home originally burned down and the owner needed it rebuilt, so we pursuaded him to let us pursue LEED certification. We'll soon be posting a blog about the project with much more detailed information. There we'll include drawings, numbers, background, etc...and we'll write about our experience and lessons learned on this project. If its ok with vdogg...I'll post a link to the blog once we get it up and running. Thanks!

Edited March 6, 2009 by vtfan18

[Glassoul]

Just wanted to let everyone in on some exciting news. We just broke ground on a new construction single family home where we are pursuing LEED certification. I know we normally don't discuss single family residential projects but thought this was worth sharing with my fellow UP members. If we can acheive certification, it'll be the first LEED certified single family home in Hampton Roads and one of a handful in VA. The project is a great case study for smart/green design combined with low cost construction. Our goal is to be able to incoporate green construction practices into more affordable homes. It's very easy to construct a green home by throwing lots of money toward green features, the hard part is building green on a super tight budget. Anyways...our project was just registered with the USGBC and we poured footers yesterday. We were fortunate with this project because the home originally burned down and the owner needed it rebuilt, so we pursuaded him to let us pursue LEED certification. We'll soon be posting a blog about the project with much more detailed information. There we'll include drawings, numbers, background, etc...and we'll write about our experience and lessons learned on this project. If its ok with vdogg...I'll post a link to the blog once we get it up and running. Thanks!

interesting. good luck and hope it works out for you and look forward to your reports.

[urbanlife]

it warms my heart to hear you guys are going for LEED, even just getting certification which is the bare minimum is great and it is a minimum every firm should be practicing. I personally hope the trend catches on there and starts to work its way into larger projects in the region.

Edited March 7, 2009 by urbanlife

[mikeas]

Lots of digging and such going on here this week. Anyone have any ideas yet?

There are signs up now. It's an Old Point National Bank branch. Hopefully they make it somewhat urban or at least have it front Granby Street with parking in the back.

[mikeas]

There is an article on pilotonline discussing improvements to historic Fort Norfolk including converting an old 6000 sq. ft naval magazine to house exhibits and a classroom area. I've actually never been there but hut the current hours are only M-F 8:30-4:30. Hopefully they expand the hours to include weekends.

http://hamptonroads.com/2009/03/fort-norfo...d-and-preserved

[spiker3]

High End Condos Sell Luxury, But Few are Buying

Nearly 2,500 high-end multilevel condo units were built in South Hampton Roads and on the Peninsula since 2000, according to Residential Data Bank, a Suffolk-based housing market research firm. The figure doesn't include any older buildings renovated and converted into condos.

Even before the housing market took a turn, economists had wondered whether builders were oversaturating the area with multilevel condos.

"There are a lot of signs that the condo market, especially in Norfolk, is softening a great deal," James V. Koch, an economist and former Old Dominion University president, said in 2006. "I look at the significant increase in supply that is yet to come and that puts out warning flags that there is a storm ahead."

A report released in January by Residential Data Bank found many condo developers in the region could count on their fingers the number of sales contracts they landed last year. The firm studied 27 new multilevel condo buildings, all with three levels or more and served by an elevator, and reported that fewer than 100 contracts were written in 2008. Based on last year's abnormally slow sales pace, the firm estimated it would take 10 years to work through the inventory.

Some note-worthy items...

Harbor Heights: more than 33% unsold condos

Westin in Va Beach: 88 out of 120 sold, only 8 for the year in 2008

Franklin Condos on Duke/Brambleton: 19 units, has not sold a single one since finishing development in 2007 (i guess the contract he had with his family member fell through)

[vtfan18]

As promised, below is a link to a blog covering our LEED project. Hope you guys enjoy. We'll be holding an open house when the project is complete to educate folks on LEED and green building in general. Let me know if anyone is interested in attending. Thanks so very much!

1434 Lead St LEED Project

Edited March 17, 2009 by vtfan18

[mikeas]

24SevenCities.com is redoing the Altschuls storefront on Granby.

http://www.24sevencities.com/features/etc/...atusupdate.html

[lil-bear]

That is right next to Granby Theater. I oftened wondered about that building and how odd it looked. I'm glad that it is going to be restored to it's former glory!

[brikkman]

I thought that store was a one story building.

[mikeas]

I believe the store was two storefronts. Check this out.

http://maps.google.com/maps?f=q&source....29166666666665

[urbanlife]

wow, great to see this building getting renovated back to its more original look...it currently looks like a piece of crap....makes you wonder why someone thought it was a good renovation that it currently has.

[virginia pe]

wow, great to see this building getting renovated back to its more original look...it currently looks like a piece of crap....makes you wonder why someone thought it was a good renovation that it currently has.

In a word, money. It was cheap, and Altschul's only cared about the first floor.

[brikkman]

I believe the store was two storefronts. Check this out.

http://maps.google.com/maps?f=q&source....29166666666665

Ok cool. They smoothed out the wall?

[vtfan18]

I believe the store was two storefronts. Check this out.

http://maps.google.com/maps?f=q&source....29166666666665

Yes...there are two separate addresses, 427-429. Although, right now the first floor is combined into one space.

[jeffconn]

24SevenCities.com is redoing the Altschuls storefront on Granby.

http://www.24sevencities.com/features/etc/...atusupdate.html

They are in the process of removing the old facade this weekend. Altschul's buried a nice looking building. Luckily, it will be beautiful again after some cleanup and rehab.