Tuesday, December 4, 2012

The Ear



Heard on the Street
Norfolk

Hold on to your wallets. 

Supposedly, Bruce Thompson, Virginia’s Beach answer to Donald Trump, and Mayor Paul Fraim are huddling over a possible deal to put a hotel and conference center in downtown Norfolk at the very spot of the now infamous Plot – which was nothing more than window dressing on an eyesore in downtown Norfolk.   

Attempts by city officials and city council members to have a hotel and conference center built on this site, bounded by Main Street to the south and Plume Street to the north, collapsed. Twice.

In the process, the city condemned three properties using the process of eminent domain to clear the way for this grand vision, costing $150 million, which included a convention center hotel, flying the Westin flag, a 50,000 square foot conference center and a 600-space parking garage.

Billionaire Robert L. Johnson, who started negotiating with the city in 2003, pulled out in 2008, citing a downturn in the economy. Allegedly. 

In stepped hotel developer and owner LTD Management, Robinson Development (the very same firm that has proposed to transform the wasteland of west 21St Street) and Fulco Development.

Obviously, this group failed to produce, since the property is still empty. 

The city promised to finance the $49 million conference center and the $20 million parking deck, no doubt by issuing debt. If LTD attracted an upscale restaurant, the city promised LTD a $750,000 performance grant (subsidy).

Expect Thompson, who’s known for persuading localities to cough up more public money for his projects, to negotiate a better deal – for him.

Virginia Beach

More spin on the arena.

Reports from the Virginia Beach Development indicate that, based on an initial survey, “sufficient surface and structured parking already exists close to the arena site to accommodate the expected needs anticipated by this arena project.”

How close? The reports don’t say. A mile? Two miles?

The Ear heard otherwise.

The Ear heard that a parking garage, costing from $125 million to $200 million to construct, is part of the overall arena deal. 

Find that in documents, if you will, or the public pronouncements by city staff and the city’s politicos.
 

1 comment:

  1. Norfolk's headlong effort to raze and re-build will be it's demise. The only thing this sinking city has going for it is its history. The city should make a concerted effort to identify buildings with significant architecture and to protect them and to emphasize them in future planning. A generic hotel and conference center could be anywhere and is a waste of prime downtown possibilities.

    City leadership has zero imagination. So they shouldn't be the ones making these decisions. This is why eminent domain legislation passed so easily. Citizens watched their pocketbooks shrink, while their favorite establishments were razed and replaced with canned, corporate office park wanna-be buildings with no sense of style or place or context.

    The city needs to stop squandering the possible for what it hopes might be plausible. How are the people supposed to be proud of Norfolk when its leadership obviously doesn't believe there is a strong foundation worth building on? Maybe we need a change in leadership.

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