Melissa Savenko's Richmond Real Estate Review

Top Ten Reasons VCU Shouldn't Get City Stadium

OK, I know I am being unreasonably prolific today, but the news that a VCU-City Stadium deal is imminent has got me both fired up and feeling like I am racing against a clock.  Also I write fast, although not necessarily well.

So, in no particular order, here are my Top Ten Reasons VCU Should NOT Get City Stadium:

10.  It is happening too fast.  If VCU doesn't even know if they'll have football, why do they need the stadium now, now, NOW?

9.  The City hasn't explored adequately other options for the site.

8.  The site should be Master Planned.  Why aren't we asking the question:  What is the highest and best use for that parcel?

7.  The community stakeholders have a right to be involved.  I know the Big Entities - be they VCU or other businesses - generally hate the idea of charettes and community meetings.  I think the strong perception is that community involvement just screws stuff up.  But guess what?  We live in a democracy and this property is owned by the City.  The community has a right to be involved in the decision-making process about what happens to that property.  Why does it seem community input is not respected and considered critical to the process by a popularly elected mayor and his administration?

6.  Selling an extremely valuable developable parcel to a state-owned entity that will not pay real estate taxes makes NO SENSE.  The City will receive a fraction of what the property developed would be worth, and an even smaller fraction of the real estate tax revenue value over time of a developed parcel.

5.  Giving away an extremely valuable developable parcel to a state-owned entity that will not pay real estate taxes makes EVEN LESS SENSE. 

4.  There are other, better places for a VCU football stadium, if they really have to have one.  For example, why not master plan the existing Diamond/Arthur Ashe Center/Sportsbackers Stadium site on Boulevard as a sports and entertainment complex?  Now THAT makes some sense.  The Flying Squirrels put their money where their mouth is, invested $2M+ in the Diamond for their inaugural season, and EXECUTED.  They did an absolutely amazing job.  I'll even begrudgingly admit that the name "Flying Squirrels" works.  But here's the deal, City of Richmond:  We need to build them a new stadium.  That was the deal we made when they came here.  And they want to be on the Boulevard.  Wouldn't that be awesome?  That whole site as a sports complex, with all the ancillary businesses that would spring up around.  There already is a lot good going happening on and around the Boulevard.  I really think this would work.

[NOTE:  I know I am going to get lots of flack for saying this, but I think we have to be able to consider the site as a blank slate.  That means the Arthur Ashe Center and Sportsbackers Stadium may have to go.  I want the them to come back, don't get me wrong, but I believe in order to do it right, the City/RMA/Squirrels/whomever has to have carte blanche to master plan that 65+ acre site.]

3.  VCU needs to not get its way, for once.  VCU rolls rough-shod over  the City when it wants something.  They don't always respect the community.  Heck, sometimes they just disregard the community and do whatever they want anyway.  As examples, see promises made and broken to Oregon Hill, to the Fan.  And witness their attitude towards West Hospital, which preservationists tried to save.  Or The Museum of the Confederacy, which has been essentially swallowed up by the VCU Medical Center.

2.  If VCU is concerned about being "landlocked," they need to think hard about responsible urban infill development, rather than chewing up ever more and more and more property, like some monster Blob. 

AND THE NUMBER ONE REASON VCU SHOULDN'T GET CITY STADIUM:

10.  The City has the opportunity to control the development of the City Stadium parcel.  The City has the opportunity to do something great for the City and its residents.  City Stadium should be developed.  But it needs to be developed the right way.  I don't know what the "right way" is.  I don't know whether that site should be residential, or mixed use, or mixed income, or what.  But I personally think some type of development makes sense for that site.  Lord knows we need additional income-producing property in the City, be it residential, commercial, or retail.  And the City has the opportunity to do it right.  To CHOOSE what we want to be, not just take whatever tired hand-me-downs VCU or any other developer wants to give us.  Why would we give up that control?

This is a critical moment in Richmond's development.  Is the City administration going to rise to the occasion?  Are the citizens going to step up and say at the very least, "Go Slower!"?  Personally, I really hope the answer is "yes" on both counts.

That's my $.02.  Comments welcome.

Is City Stadium + VCU A Done Deal? If So, WHY?

I am hearing from sources that VCU will get City Stadium and that the deal is imminent.  I am also hearing from sources that this is a deal that has been in the making between the powers-that-be and VCU Board of Trustees for quite a while.

WHY?  I realize VCU has done a ton of good for the City, but they shouldn't be able to railroad through a deal just because....they're VCU. 

Why would the adminstration sell to VCU now, without an adequate review of alternative options and - most importantly - appropriate discussion with all the stakeholders, meaning of course the immediate neighborhood, both residents and Carytown business owners, but really with ALL City residents? 

This is yet another example of the City getting it bass-ackwards.  Significant City-owned properties need to be master planned FIRST, with input from the citizen stakeholders, and proposals for development solicited SECOND.  The City is working with developers - including VCU - first, and then presenting a fait accompli to the community.  This makes any change to the proposed and City-supported proposal by the "little people" an uphill battle.   Not to mention it's damn arrogant and pretty much a slap in the face to the actual residents of the City of Richmond.

The City needs to master plan the following sites ASAP.  Like NOW.  Like YESTERDAY.  And not a single proposal for any type of development of any kind should even be considered until that master planning process is complete.  These City-owned properties are:

1.  The City Stadium;

2.  The Bus Barn complex in the Fan; and

3.  A large swath of Boulevard.**

Mayor Jones, you and your administration have a duty to the citizens of this City to do what's right with City Stadium and these other properties.  You were not elected by the VCU Board of Trustees.  My objection is to the all-to-familiar back door feel of this PROCESS.  If at the end of a master planning process for City Stadium the community wants VCU to have the stadium, then so be it.  But do not shove something down our throats when you are talking about one of the most valuable pieces of developable land in the City.

**  NOTE:  Yes, I am aware that there are multiple owners of that property, and Richmond Metropolitan Authority ("RMA") is a entity made up of the City and surrounding counties.  However, there are ways to get everyone on the same page, if you present a win-win.

Controversial Richmond City Planner Has Resigned

Rachel Flynn, the City Planning Director, has resigned.  Her top deputy, Brooke Hardin, has resigned as well. I know the commercial real estate and developer folks are probably throwing parties, but I think this is a very bad thing. I'm all for development, but in my opinion it needs to be responsible development.  More on this later...

VCU Wants the City to Give It City Stadium as a "Gift" - Apparently They Are Experimenting with Hallucinogenic Drugs

Mayor Jones, don't you dare!  So VCU is interested in acquiring City Stadium and wants it as a GIFT?!?  VCU would like to be "the steward" of the property.  Hey Dwight?  I'LL be happy to be the steward of the d*mn property, if you're just going to give the thing away.  I guarantee the folks in the surrounding residential neighborhoods would like my development plan a heck of a lot more than what VCU has in mind.  Or anything else that has been proposed for the City Stadium site, for that matter.

There are so many things wrong with the entire concept I don't even know where to start.

1.  Why in the world would the City GIVE away an extremely valuable parcel of property?

2.  If the City gives City Stadium away or sells it, it loses control over the future development of that parcel.

3.  Ummm, it's not like the City of Richmond has so much extra cash lying around that a multimillion dollar property, with umpteen millions of dollars of development potential, is disposable.  Are these people smoking crack?

4. Not to mention if VCU owns the property, it will never be real estate tax producing for the City. 

5.  Just what we need, VCU expanding into yet another neighborhood, smashing and destroying to get whatever it wants.  Maybe Rao is different, but under the Trani regime it was a "give me what I want or I will crush you!" sort of approach.  If you doubt me, call up the folks from Oregon Hill, they might have some stories to share.

I'm literally sputtering.  This CANNOT happen.  Margaret Freund's idea of "Stony Point in the City" was and is God awful, but this is worse.  VCU is going to be the blob that eats the City.  My love-hate relationship with VCU has officially slipped into the at least "extreme dislike" category.

So, who is with me?    

Virginia Is for Vacationers! We're Number 1!

Interesting article on the front page of the Richmond Times-Dispatch"new" Business section today.  Apparently, Williamsburg and Virginia Beach take the No. 1 and No. 2 spots in TripAdvisor's list of family vacation destinations.  The ranking is based on the consumer review ratings on the TripAdvisor website.  Virginia joins New York, Tennessee, Missouri, Texas and Florida with destinations in the Top Ten. 

YEA!  Go Virginia!  We're Number 1!  And Number 2!  Whoot, whoot!