Monthly Archives: May 2008

Historic Hampton project

I was just reading the when I saw an article entitled, “Growing Hampton” that highlights the largest economic development project in the city of Hampton’s history.

Pittsburgh-based developer, Vincent W. Falleroni of XL Development has just bought the 19.5-acre plot of land west of the Hampton Coliseum for $5.7 million and plans to build a 2,000-seat theater, retail outlets, restaurants and rental units.  The sale of this parcel was slated to take place in June of 2007, but due rezoning and the inclusion of the 58 rental units, the sale of the land has just been finalized this month.  The project, which will bear the name Hampton Place, includes a full-service hotel with 195-300 hotel rooms, a 2,000-seat theater, 100,000 square feet of retail, restaurant and entertainment space, 100,000 square feet of office and residential space and a garage for up to 2,200 vehicles.  The project is expected to be completed in May 2012.  The cost of the project I s unknown, however, Falleroni plans to spend $250 million on Hampton Place, $250 million redeveloping the Coliseum and $27 million to build just the parking garage, $6 million of which will be reimbursed by the city.

The Hampton City Council expects to see the conceptual plans for this project some time this summer.

This is a sure sign that Hampton is a growing community and plans to see more growth in the future.  Hopefully, this new project will help to create some good jobs while offering Hampton Roads residents new options in housing, retail shopping, arts and business opportunities.

If you would like to read this article in its entirety, please click here.

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Controversial Norfolk condominium project gets go ahead

I have just read an article in entitled, “Norfolk City Council approves divisive condo project” about a controversial rezoning plan that will pave the way for 50 condominium town homes smack in the middle of a residential neighborhood.  The Norfolk City Council voted 5-3 in favor of new zoning that would allow the construction of the new condominium project.  The builder, Franciscus Homes, is planning to demolish 5 homes near the intersection of Kempsville Road and Cornick Road in order to clear space for the new condo town homes.

Opponents of this rezoning plan were on hand to make their voices heard.  Those who are against this new development state that this new construction will be counter-productive to the community because of the increase in traffic and population.  Some cited the fact that ten condos were built last year and of those, only one has sold, saying there is no demand for more condominiums in this area.  Some neighbors fear their community will cease to be quiet and tranquil.

Interestingly, even without rezoning, Franciscus would have been able to build 28 of the 50 proposed single-family dwellings.

This projected cost of this new development is $12 million and the condo town homes are expected to sell between $195,000 and $230,000.

Will this new development help to increase property values in the area?  Will local neighbors feel an increase in traffic and noise?  Only time will tell, all that is sure right now, is the rezoning has been approved and construction is slated to begin sometime soon.

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