Waterside Proposals Coming Down Final Stretch

At yesterday's Norfolk City Council meeting, the hot topic was Waterside.  The Council had narrowed the proposals down to two, the Norfolk-based Harvey Lindsay Development Group and the Baltimore-based Cordish Companies.  Now, feasibility studies were to be conducted on each.

The Harvey Lindsay proposal includes a 190,000-square-foot convention center on the Waterside site with an updated marina, featuring an upscale seafood restaurant.  The convention center would be connected to the heart of downtown via an elevated walkway called "The Levels," modeled after New York City's High Line.

Other features of the $200 million project, are two new mid-sized hotels, an expanded Town Bank Building and a new office tower that would become the headquarters for Clark Nexsen, intended to create hundreds of jobs downtown.  HL Development plans on asking for $76 million in funding and performance grants, while also asking the city to borrow about $16 million from parking bonds.

To sum things up, consultants stated that this proposal would work and there is still a need for convention space to compete with Hampton and Virginia Beach.  However, they stated that the convention center being attached to a hotel is integral part.  For more on this study, click here.

The Cordish Company has a plan to keep the existing Waterside structure in place, add 13 new chain restaurants, a marketplace selling items unique to the Hampton Roads area, and an entertainment venue.  The location would be reopened as "Waterside Live."  An example of this is the recently opened XFinity Live in Philadelphia, Pa.

The total investment by Cordish Company would be $30 million, however, they would look for tax breaks from the city.  The feasibility study was centered around how this proposal would affect the local restaurant market in Downtown Norfolk.  The study states that Waterside Live would dramatically increase restaurant taxes, helping the city recapture restaurant dollars that have been declining. A survey given to restaurant owners on Granby St. stated that they were okay with the proposal as long as there was cross-promotion instead of competition.

My personal opinion is that the HL proposal is a game-changer, that would totally change downtown and two elements really stand out, The Levels and building the headquarters for Clark Nexsen.  The Levels brings something found nowhere in the area.  It can be used for events, public displays of art from the Chrysler Museum, gardens sponsored by Norfolk Botanical Gardens, and it completely connects downtown with waterside.  

Clark Nexsen wouldn't just bring jobs downtown but it would bring architects downtown.  This is the creative class everyone keeps talking about.  If you want anyone downtown, wouldn't it be someone who thinks outside the box when it comes to development?  Oh and by the way, they make a decent salary too.

I'm not really too excited about an upgraded Waterside.  I feel like it would fizzle out after time and then we'll be right back where we started.  I also fear it would compete and close down some of the restaurants on Granby St.  That said, I wouldn't mind some restaurants or bars located on the water (since Norfolk really has none), but maybe those can be located more east near Harbor Park.  

At the April 24 City Council meeting, City Manager Marcus Jones will recommend which proposal is the best way forward.  City Council has stated that there's a possibility of combining the two projects.  I'm hoping they lean towards the HL proposal, but throw in a couple more eateries or bars in addition to the high-end seafood restaurant they have planned.

For more information on Waterside, visit the city's site on Waterside updates.