Jump to content

1500 Monticello Ave


Recommended Posts


  • Replies 82
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

This MAY not be dead. Some of the documents I've seen have a start date of late 2017 or early 2018. Working to confirm though.

Geez. Makes you wonder how Taubman built MacArthur Center,  in the middle of a then-struggling downtown, at nearly $300 million.......in the 1990's no less!?!?!?! But then again, we can all name

It would be stupid, in this economy, to abandon this project. There is currently an apartment boom in this area. How these investors don't think we can support a project of this magnitude, when we've

Posted Images

The development company has added a couple of more renderings to their website. I'm still not crazy about the renderings, but I'm definitely optimistic about the eventual outcome!

image.jpeg

image.jpeg

Edited by Helium3
Link to post
Share on other sites

Wow, this is gonna have quite a a presence. That retail is really gonna activate the street.  I'm not going to pass judgment on the rendering until I see something more polished, but right now I'm excited.  :)

 

  • Like 1
Link to post
Share on other sites
  • 6 months later...

  • vdogg unpinned this topic
  • 2 weeks later...

I think this project, at least in it's current iteration, is dead. I drove by the lot today, the lot is overgrown and the coming soon signs are no longer there. I'm going to try to find out what happened if I can.

Link to post
Share on other sites
  • 2 months later...
  • 3 weeks later...

Is the land for sale or the project itself for sale? Very confused by this. It looks like an "investment opportunity" brochure. The renderings in there are more detailed than what was previously released. Strange. I hope the city is intent on making sure whatever goes there stays within the urban character of the district. It would be disappointing to not see this on go through.

" Two city blocks comprising approximately 2.13 acres
" Zoned G-1 Granby/Monticello Corridor Mixed-Use
" Fully entitled for 300+ multifamily units plus ground-floor retail
" Shovel-ready with planning and design concepts available

" Numerous amenities in Ghent and Downtown Norfolk
" Healthy, consistent retail and multifamily growth and absorption

Link to post
Share on other sites

  • 2 weeks later...

https://pilotonline.com/news/local/that-big-patch-of-dirt-off-monticello-avenue-in-norfolk/article_5dfdb22c-65cb-5b0c-bae5-658e872434e0.html

"Haller said financing problems this summer stemmed in part from national investors who see Hampton Roads as a “secondary, tertiary” market.

“I don’t think they understood Norfolk,” he said."

This just p**ses me off. :angry: $42 million is not a big haul in this area. We routinely have major projects worth several times that built around here. The fact they could still say this about Norfolk, in 2017 no less...., I mean, wtf?

I mean, how about they look across the street at even larger projects that are 100% leased? Man this has me heated, and people wonder why we have a chip on our shoulder. :lol:

  • Like 1
Link to post
Share on other sites

Geez. Makes you wonder how Taubman built MacArthur Center,  in the middle of a then-struggling downtown, at nearly $300 million.......in the 1990's no less!?!?!?!

But then again, we can all name several projects in the region which didn't come to fruition… (Granby tower, Dome site project, etc., and only for example ). Some of them failed because of financing, while others were never explained. Was it always the same stigma from the outside stifling our growth? 

P.S.  I have a feeling that somebody here had something to do with this  story getting written. (It wasn't me.) Good work somebody.  Eye-opening & informative to be sure. 

Edited by baobabs727
  • Like 3
Link to post
Share on other sites

A secondary market. That hurts lol...

I don't like it, but I get it. Norfolk did a lot of status quo stuff over the years, while taking chances here and there (MacArthur). Hopefully, the investors will look at what's happened in the last 3 years and see this isn't the Norfolk of 30 years ago. 

Glad to see it's still on the table, at least. 

  • Like 2
Link to post
Share on other sites
  • 6 months later...

 FWIW the for sale signs are down. Not sure what, if anything, this means but they were trying to have a new investor by the end of last year. Perhaps this indicates some sort of success. 

Link to post
Share on other sites
  • 4 months later...

It would be stupid, in this economy, to abandon this project. There is currently an apartment boom in this area. How these investors don't think we can support a project of this magnitude, when we've supported far larger in the past, is beyond me.

  • Like 3
Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...

Important Information

By using this site you agree to our Terms of Use and Privacy Policy. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.