Downtown Roanoke Development (Richmond, Jefferson, Shenandoah: apartments, lease, condo)

[roanoker 4]

Just curious, but does anyone know why the old Heironimus building on Jefferson Street continues to remain vacant and an eyesore? With all of the money being spent downtown by Ed Walker on his many projects I can't understand why there is so much apathy about the most important corner downtown. Since the Market area is getting so much attention from developers it seems there is a need for a hotel/parking garage on the Heironimus location. I understand Hilton Garden Inn is planning something at South Peak but it baffles me why they don't look at downtown. Hotel Roanoke stays full so there is no other alternative for guests and more meeting space is greatly needed downtown plus Church Avenue remains dead. Very strange.

[RoanokeWahoo]

Developers just announced that they purchased the Crystal Tower and will build 70 apartments and new retail space. This building is on the corner of Campbell and 2nd st.

New owner plans apartments, retail for Roanoke's Crystal Tower building - Roanoke.com

[roanoker 4]

I heard a rumor yesterday from a friend who said the City will announce a new
Hotel to be built at the new Church Avenue parking garage next to the Fire Station June 21. It will be a chain and it has already been given air rights so it must be a high rise building. That Hotel will bring more people to downtown!

[Scott94]

Work will also begin on the Shenandoah Building within the next month to turn it in to 90 apartments.

http://www.roanoke.com/news/roanoke/wb/309744

Originally Posted by roanoker 4

I heard a rumor yesterday from a friend who said the City will announce a new
Hotel to be built at the new Church Avenue parking garage next to the Fire Station June 21. It will be a chain and it has already been given air rights so it must be a high rise building. That Hotel will bring more people to downtown!

Interesting rumor and if true should continue to add to the positive vibe downtown. I also think Roanoke could use some new development downtown, either for housing or other uses. In the meantime, converting old, vacant buildings seems to be working well. And on that point, I've found it interesting that almost every downtown project, either condo or apartment, has been mostly, if not completely leased by the opening date. Yet, there is certainly no mass migration to move to Roanoke, as shown in recent slow population growth. Does that mean that most of the people living in these new projects downtown are moving from the county and suburbs, or are these projects really becoming home for many first time residents?

[roanoker 4]

Because Roanoke did not tear down all of its old buildings like Charlotte, Greensboro for example and build cold, sterile structures I believe that was a
key in the more "people friendly" atmosphere of downtown. I don't know where all of these people are coming from to buy downtown properties but it is definately folks who are tired of the "suburbs" of bland cookie cutter homes, neatly manicured lawns and too much conformity. Downtown definately has a vibe of a much bigger city with a trend toward 24/7 living. Now, if we can get more retail(even a general store like in Asheville)a decent food store, a Hotel,
and even some chain type fast food restaurants(not very popular I know).

[RoanokeWahoo]

Originally Posted by roanoker 4

Because Roanoke did not tear down all of its old buildings like Charlotte, Greensboro for example and build cold, sterile structures I believe that was a
key in the more "people friendly" atmosphere of downtown. I don't know where all of these people are coming from to buy downtown properties but it is definately folks who are tired of the "suburbs" of bland cookie cutter homes, neatly manicured lawns and too much conformity. Downtown definately has a vibe of a much bigger city with a trend toward 24/7 living. Now, if we can get more retail(even a general store like in Asheville)a decent food store, a Hotel,
and even some chain type fast food restaurants(not very popular I know).

I for one have always wondered why "chains" haven't popped up downtown. I think they would draw even more people downtown rather than to Valley View.

Adding to the skyline would be great if they can make it happen with a hotel. I am in full support!

[richmondpics]

Originally Posted by scott1094

And on that point, I've found it interesting that almost every downtown project, either condo or apartment, has been mostly, if not completely leased by the opening date. Yet, there is certainly no mass migration to move to Roanoke, as shown in recent slow population growth. Does that mean that most of the people living in these new projects downtown are moving from the county and suburbs, or are these projects really becoming home for many first time residents?

This is a broader trend for a variety of reasons. Home ownership rates have declined (more renters), and more and more people (young folks, old folks) are drawn to walkable areas vs the traditional suburbs.

We're seeing the same thing in downtown Richmond where over 1,300 apartment units have been delivered since 2010 with 1,200 more currently under construction... and the vacancy rate is just 4%. Downtown population doubled between 2000 and 2010.

I really like Roanoke's downtown... hope the positive momentum continues.

[Scott94]

Though the local restaurants downtown are a fabulous draw and we are very fortunate we have as many as we do, I also wouldn't mind a few good chain restaurants downtown. Something that is not established here and would bring even more people in. When the Center in the Square reopens, I think to have a roof-top restaurant succeed it will almost have to be a chain that people have heard of and would flock to. An unknown restaurant on top of a museum roof would seem to me to be quite difficult to sustain.

[RoanokeWahoo]

Originally Posted by scott1094

Though the local restaurants downtown are a fabulous draw and we are very fortunate we have as many as we do, I also wouldn't mind a few good chain restaurants downtown. Something that is not established here and would bring even more people in. When the Center in the Square reopens, I think to have a roof-top restaurant succeed it will almost have to be a chain that people have heard of and would flock to. An unknown restaurant on top of a museum roof would seem to me to be quite difficult to sustain.

+10000 This really is the only way to make it work. I agree.

Could you imagine something like J Alexanders coming up there. A pipedream, but would be awesome. Shoot, I would settle for a PF Changs or Maggiano's

[Scott94]

@roanoker4: Not sure if its just a coincident or not, but today DRI announced that their annual meeting was scheduled for June 21st. So if a hotel is to be built, I guess we will find out then.

Originally Posted by RoanokeWahoo

+10000 This really is the only way to make it work. I agree.

Could you imagine something like J Alexanders coming up there. A pipedream, but would be awesome. Shoot, I would settle for a PF Changs or Maggiano's

Agreed, that would be nice. Ruth's Chris would be another one. I even remember someone mentioning that Hard Rock Cafe would be a big draw if it would locate there. Doubtful that they would though, since they seem to locate only in large cities or in popular destinations, such as Gatlinburg.