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Tobacco Row Developments


wrldcoupe4

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  • 2 weeks later...

I think the developer of Sterling Row is going to lose his hat, and I've thought it since the first renderings and price points came out. It's the first new building on an undesirable block, and there's nothing compelling about it. It's got a blank brick wall against the street, the exterior finishes and detailing are weak (look at the windows, for instance), and it's incredibly inward-focused.

For that price, why would anyone buy there, when they could buy a resale at Riverside, a new condo at Vistas, or an entire nicely renovated single-family house in southern Church Hill?

They made some critical strategic errors in planning this thing out. Most significantly, for the less-than-desirable quality, detailing, and location of the building, he's gone way too upmarket in his interior expenses. If those units started at $350k, maybe he'd have a chance by people who don't care as much about those desirability factors.

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Well according to the gov't you're supposed to spend no more than 30% [give or take some percentage point depending on which agency you are getting your figures from] on housing. That should include more than rent [utilities, takes, insurance, etc.]. That said, I would have to be making $80,000 to afford $2000 in rent [not including utilities and such] and $120,000 for $3,000 in rent.

I have to agree, where does the line start for one of these jobs?

Well, this is not New York City rates, at least. But living in downtown commands higher rent, yes, according to theory. Live in downtown, you don't get to use the car more often, which trades off to lower bills for gas, insurance, taxes, and transit. Live further from downtown, you get cheaper rent but more expensive bills on the car, which means gas, insurance, and etc. So, there is a balance in housing and transportation. Richmond has been trying to build more of those in downtown like the Shockoe Bottom, near where I will begin work for VDOT next week. The higher rents mean more tax money for the city to improve blighted neighborhoods.

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Thanks for the update JSI. I've been out of town. I'll have to drive by and check it out soon.

Also, btw, I could be mistaken but I'm fairly confident that Sterling Row's developer is a woman. (mother/son team)

Welcome home, Coupe.

Venture Richmond sent out an invite to Sterling Row's grand opening. I'm sure you have seen it. It doesn't name the developers.

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The Main St side has windows and they look neat... the Cary St side, no windows. And when is anything going to happen to the plant?

Thanks for your information about Sterling Row Cam. (I assume that is the subject under discussion). It's pretty far from Cary Street, however. Maybe you've strayed off to some other subject as you often do.

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Thanks for your information about Sterling Row Cam. (I assume that is the subject under discussion). It's pretty far from Cary Street, however. Maybe you've strayed off to some other subject as you often do.

Isnt that the nature of an urban fabric, to stray away from your intended target?

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Isnt that the nature of an urban fabric, to stray away from your intended target?

Well, I think Cam gets a thought in his mind about a subject that has been discussed several entries above and forgets that it confuses some readers when he fails to identify his point of reference.

I believe he is talking about the Lucky Strike building.

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Thanks for your information about Sterling Row Cam. (I assume that is the subject under discussion). It's pretty far from Cary Street, however. Maybe you've strayed off to some other subject as you often do.

Sorry I was thinking of Lucky Strike... I'd forgotten about the Sterling Row interjection.

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  • 2 months later...

Before I forget..I was curious to know what they will do with the building I highlighted below. Is it part of the whole Lucky Strike Development?

untitledkl6.png

I assume it will be demolished for a parking lot just like the all the other blocks between Dock and Cary. I actually saw someone trying to demolish it once with a bobcat. Lets just say they didn't get very far.

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  • 2 weeks later...

A side-bar story on page 169 of this month's Richmond Magazine says that the third phase of The Lofts at Canal Walk is nearing completion. "The 300-plus apartments in the eight-story building will have floor-to-ceiling windows with spectacular river views... "

Rents will range from $775 to $1700.

I'm wondering if the 300+ apartment number quoted isn't for the entire project that includes at least two other buildings on the site at Main, Cary, 19th and 20th Streets. I don't believe the former 8-story Phillip Morris warehouse alone is large enough to contain that number of units.

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  • 1 month later...

Work is well underway at the old factory at the eastern end of Tobacco Row on Cary St. All windows have been removed, there are two small lifts out front and scafolding has been placed inside. Also, a lot of road work (new sidewalks, brick crosswalks, etc.) is going on outside the front of the Lucky Strike building.

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