Norfolk Development 2

[usermel]

Hey Ronsmytheiii, at least we got someone to use that land Im happy he came to do something with the old Ford Plant property! HAHAHAAHA! Thought that land would stay vacant for years and with the economy the way it is, its a blessing we have someone to come to Norfolk and bring possible jobs here. Possibly!!!! L.G.N.M

[Telmnstr]

Solar panel factor? For real? A number of large existing ones said they are shutting down their US operations because of lack of demand / uncompetitive.

Odd.

[vdogg]

Solar panel factor? For real? A number of large existing ones said they are shutting down their US operations because of lack of demand / uncompetitive.

Odd.

It's jobs tel...be happy about that. This guy seems to be a fairly successful developer. I doubt he would be doing this if he didn't see the money in it.

[brikkman]

The city of Norfolk values the property around $84 million for tax purposes.

???? for tax purposes.....????

What do you mean "for tax purposes"???

[VBIllini13]

???? for tax purposes.....????

What do you mean "for tax purposes"???

They'll tax the property at that amount. In other words, somebody can buy it for more or less, but the city will tax the property at that assessed value.

[mikeas]

It looks like Monarch Bank is planning a bank branch at the former Pizza Hut site on 21st street in Ghent. It is a pretty good size lot so hopefully they take advantage of it and don't try to pull some suburban crap.

Design Review Agenda http://www.norfolk.gov/Planning/PDFFiles/DR/March_8_2010.pdf

Location: http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=500+w+21st+street+norfolk,+va&sll=37.0625,-95.677068&sspn=57.815136,85.429688&ie=UTF8&hq=&hnear=500+W+21st+St,+Norfolk,+Virginia+23517&ll=36.869122,-76.292096&spn=0.001809,0.002607&t=h&z=19

[brikkman]

They'll tax the property at that amount. In other words, somebody can buy it for more or less, but the city will tax the property at that assessed value.

Cool thanks,

[Former Resident of HR]

It looks like Monarch Bank is planning a bank branch at the former Pizza Hut site on 21st street in Ghent. It is a pretty good size lot so hopefully they take advantage of it and don't try to pull some suburban crap.

Design Review Agenda http://www.norfolk.gov/Planning/PDFFiles/DR/March_8_2010.pdf

Location: http://maps.google.com/maps?f=q&source=s_q&hl=en&geocode=&q=500+w+21st+street+norfolk,+va&sll=37.0625,-95.677068&sspn=57.815136,85.429688&ie=UTF8&hq=&hnear=500+W+21st+St,+Norfolk,+Virginia+23517&ll=36.869122,-76.292096&spn=0.001809,0.002607&t=h&z=19

Vomit. I mean just what Ghent needs, another branch of another lame bank. Go Monarch!

[Telmnstr]

Vomit. I mean just what Ghent needs, another branch of another lame bank. Go Monarch!

Too funny. I contacted bank of the Commonwealth about opening a checking account for the hacker space. YAWWWWN. Why do these people exist, anyways. So my nice new account with ING Direct was setup in minutes...

Friends don't let friends use banks, isn't that how the saying goes?

[timothyp_787]

Vomit. I mean just what Ghent needs, another branch of another lame bank. Go Monarch!

Ugh. I suppose it's better than having an empty pizza hut, but for crying out loud....so that means on one of the most valuable intersections in the city, we'll have a bank branch (Wachovia), a bank branch (BB&T), a bank branch (Monarch), and....a Hardee's.

Maybe a bank is the only entity that can afford the lot. But add in the BoA 1 block south, and it's kind of ridiculous.

[ronsmytheiii]

Construction has begun on a new phase of units at the Harbor Walk condominium community in the Ocean View neighborhood.

Virginia Beach-based condo developer Franciscus Co. agreed last fall to buy the remaining parcels of land at the beleaguered community and build 157 more homes there.

http://hamptonroads.com/2010/03/condo-building-resumes-troubled-ocean-view-project

I call these projects the "beach house" urbanism

[urbanlife]

http://hamptonroads.com/2010/03/condo-building-resumes-troubled-ocean-view-project

I call these projects the "beach house" urbanism

haha, that is a good term for this...though I think Florida might of beaten you to this term because that state is littered with these projects. Often times it hides under the umbrella of "new urbanism."

[varider]

NORFOLK — US Development plans to purchase the historic Savoy Hotel for an undisclosed price. This is the second building the Columbia, S.C. company has focused on in downtown Norfolk. US purchased the 100-year-old Navy YMCA in December. David Bryant, president of US Development, says the company has a contract to buy the eight-story Savoy on Granby Street, which was built in 1906. The deal is in keeping with its business model, he adds. US development typically acquires historic buildings in central business districts of mid- to large-size Southeastern cities. The company plans to develop both sites into mixed-use projects with street-level retail and apartments. Bryant says he likes Norfolk because it’s a vibrant city. “It has light rail moving in, port expansion, and there’s an alternative energy venture that’s just been announced for the former Ford Motor Co. property.” He’s also interested in Richmond. “We’ve been looking at a couple of projects there.”

http://www.virginiabusiness.com/index.php/news/article/commercial-real-estate-roundup-3-1-10/203430/

[urbanlife]

Sounds like a smart business plan on their part, go after cities that were over looked during the housing boom, then buy up historic properties and rent to the middle-ish class range, a market that was also over looked during the housing boom. Before you know it, they are going to be a massive company controlling much of the southeast. Very smart business plan indeed.

[ronsmytheiii]

I like this image better, hopefully they will restore the first floor entrance as it looks very ugly 1980's right now:

[brikkman]

Can't find the original thread, but the development that was proposed a couple years ago on the corner of brambleton and tidewater drive seems to be moving forward. Not sure how long it has been there, as I have not driven that way regularly in some years. But it is a new sign with the rendering quoting "400 new jobs"......

It is right across from the burger king and public housing at that corner.

[varider]

The Midtown Office Tower? Yeah.. That broke ground a couple weeks ago.

[Telmnstr]

Can't find the original thread, but the development that was proposed a couple years ago on the corner of brambleton and tidewater drive seems to be moving forward. Not sure how long it has been there, as I have not driven that way regularly in some years. But it is a new sign with the rendering quoting "400 new jobs"......

It is right across from the burger king and public housing at that corner.

What jobs are the taxpayers providing now?

[varider]

http://www.midlandsbiz.com/articles/5148/

COLUMBIA, SC – April 7, 2010 - Donna M. Phaneuf, president of VIA design architects, pc, has been named to lead the redevelopment design of the old Navy YMCA, corner of Brooke Ave. and Boush St., in downtown Norfolk, Va.

“Norfolk’s past has many stories to tell, and this preservation effort will be one for our future,” explains Phaneuf. “That’s because it will be a model statement of how we measure success in the general plan called ‘Norfolk 2030.’ “

Although in the early planning stages, Bryant and Prioreschis say their initial plans call for a self-contained development within a development. The Rockefeller will spotlight gracious apartment homes with modern amenities. There are plans for retail shops and boutiques on the street level.

Pre-development plans are well underway. Construction is slated to begin the third quarter of 2010.

It all sounds great to me. Woo Hooo.

[VAGATOR]

Glad to see they are still moving ahead despite the economy. These project will provide much needed middle class/moderate level housing in downtown, and it will also do wonders in increasing foot traffic after the 9-5 rush.

[burt]

Here's the website for USDevelopment:

http://www.usdevelopment.us/

[varider]

Glad to see they are still moving ahead despite the economy. These project will provide much needed middle class/moderate level housing in downtown, and it will also do wonders in increasing foot traffic after the 9-5 rush.

Your right. I absolutely love US Development's plans for our city. The best part is that the Rockefeller is only the beginning. After this,the leaning tower will get the works. Then off to the old Trader publishing building on Plume.... By 2020, Us Development will have made an unbelievable difference.

[varider]

http://www.norfolk.gov/Planning/PDFFiles/CHB_Final_Plan.pdf

Final plan for the Central Hampton Blvd area.

[ronsmytheiii]

Construction of a new intersection at Little Creek Road and Tidewater Drive, dredging projects, improvements to the Hague Promenade, a new animal hospital at the Virginia Zoo and a new government plaza area at City Hall would be delayed at least a year. Meanwhile, Williams proposes spending $5 million over the next five years to help fund the expansion of the Chrysler Museum, about $800,000 next year to acquire blighted property in Wards Corner, and $606,000 to design a new facility that would serve as a station to serve light rail and proposed high-speed rail service to the Richmond area.

Her budget does not address light-rail cost overruns. The state has agreed to fund $20 million of a $50 million overrun. Williams said Hampton Roads Transit Director Phil Shucet is working to find federal funding for the remaining $30 million.

http://hamptonroads.com/2010/04/norfolk-budget-plan-would-cut-services-230-city-jobs

[varider]

Just what 21st street needs! Another bank..

http://hamptonroads.com/blogs/biz-buzz

The former Pizza Hut on West 21st Street near Colonial Avenue in Norfolk was being demolished today (Tuesday) to make way for a Monarch Bank branch.

Monarch Bank, which owns the property, said it plans to open the branch by early February 2011. The Chesapeake-based community bank will put up a three-story building on the Ghent site. The bank will use half of the building’s first floor, and its Monarch Mortgage unit will use the other half, said Neal Crawford, Monarch’s president.