Blacksburg, VA

Blacksburg's newest development project, The Colosseum, has broken ground. Here's a link to the recap in Multi-Housing News.

I wrote in January that I thought it was too much for the area - too much product right now. I still do; condos are lagging behind the rest of the market.

Only time will tell how this project does.

Just like to say that this picture was taken by my wife on a trip she took to Italy over the summer. It's my absolute favorite - I'm so proud.

A few weeks ago, I attended the groundbreaking ceremony for the new Colosseum project in Blacksburg. The event featured speakers, all kinds of food and drinks, Roman gladiators (I mean, honestly - can you name something "The Colosseum" without gladiators?) and golden shovels. I took video to show you, in fact.

Stupid video - somehow, everything was corrupted and I lost it all.

So I'll recap the project here, as best I can. Sorry about that, but I DO have answers to some of the common questions people have been asking about the project. From the project's marketing department:

What exactly is a condominium hotel - Condominium hotels operate as a hotel but also add the legal and financial structure of a condominium. Buyers receive a deed for a real property interest that they can in turn sell whenever they choose.

How is this different from buying a regular condominium - In addition to the investment value of a condominium, buyers can take advantage of the benefits of a luxury hotel. When the condominium unit owners stay at the hotel, they have access to all of the hotel's amenities, including its restaurant, bar, pool, fitness and spa facilities.

What happens when I'm not using my condominium - When the owners are not using their suites, they can be made available to rent through the hotel's voluntary rental program. The Colosseum is managed by Salamander Hospitality, an award-winning manager of exclusive hotels and resorts, so buyers don't have to worry about maintaining a property away from home.

What makes The Colosseum a luxury sports condominium hotel - Conveniently located near the heart of Blacksburg's business and shopping district and two miles from Lane Stadium and Cassell Coliseum, The Colosseum is perfectly designed for Virginia Tech alumni and fans who want to support Virginia Tech athletics. Game day enthusiasts can also take advantage of extras such as child care, game shuttles and underground parking.

How many units are there - The two tower, six story, 241 unit condominium hotel offers luxury fully furnished studio suites, or a one or two-bedroom suites.

How does The Colosseum support the local community - The Colosseum has pledged to donate a portion of the sale of each unit, up to $500000, to the construction of the new basketball facility. The donation will be made in the name of the purchaser, who will also receive Hokie Points toward preferred seating and parking for their contribution. Likewise, The Colosseum has committed to endow a permanent $100000 scholarship for a student athlete pursuing a degree in property management or hospitatlity and tourism management, and offer internships to building and construction students during the construction phase.

Pictured above, left to right:

Steve Semones, Balzer & Associates
Daryl Andrews, The Colosseum
Mayor Ron Rordam, Town of Blacksburg
Mark Kinzer, Unlimited Construction
Mike Burnop, ISP Network Analyst and Virginia Tech Hall of Famer
Todd Meckley, Entasis Design PLLC
Random Gladiator

The Blacksburg Town Council unanimously approved major changes to a 1/2 mile stretch of North Main Street (460-Business) here in Blacksburg, including additional turn lanes and a two-lane roundabout at Main and Price's Fork.

It's been discussed before here, here and here.

Is this a benefit to the long-term viability of Main Street businesses in Blacksburg, or a short-sighted reaction to Virginia Tech's expansion?

Download vt_construction_narrative.pdf here.

As I mentioned last week, the Town of Blacksburg is using Twitter to broadcast news and notes to citizens regarding things happening in the Town.
I love the idea, and yesterday I saw two things posted that caught my eye, so I took a screenshot from my phone and posted it here:

* a reminder that carboard can now be recycled during the weekly pickup. Just make sure to break down the pieces and lay them under your blue bin when you set it out. They must be less than 3 feet long by 3 feet wide when broken down. You can find out more regarding the Recycling guidelines at Blacksburg.gov/recycling.

* Sustainability Week in Blacksburg is coming up, October 20-25. More information to follow - there's not much on their website right now, but they do have the Executive Summary from last year (see below)

Download 2007_sustainability_summary.pdf

Don't forget to fill out the survey the Town is distributing, asking for citizen input on Downtown issues. The deadline for submission is September 15th. I can't find anything on the website about it, so here's an image of the form that you can print and send in. Topic #1 for improving Downtown - provide an electronic copy on your website of the form you want people to fill out. (It may be there, I'm just not seeing it).

Last week, we had several properties having home inspections being done, all by the same inspector. We try to use the same vendors, over and over, because they consistently bring their best to the job each and every time, which is one reason why we like John. And he shares my affinity for all things Mac related, but that's for another post.

So we kept John busy last week, and in the course of those inspections I got to thinking about the purpose of the home inspection. On the Contract we use, the home inspection clause reads:

"A home inspection for the purposes of this Contract is RESTRICTED TO DETERMINING ONLY that the plumbing (including well, well pump and septic systems, if any), heating, air conditioning (if any), electrical systems and appliances are in safe working order, there are no structural defects, and the roof is free of leaks. The home inspection and any subsequent inspections shall be at Purchaser's expense." It's not a license to swing for the fences ...

With that in mind, the inspection is a comprehensive snapshot of the major systems in a home. It usually takes 3 or 4 hours to complete, usually costs a few hundred dollars, and the result will be a thorough report detailing the good - and sometimes bad - regarding the condition of the home. If you're a home owner, preparing to put your home on the market, you might also want to consider getting a home inspection ... it'll give you a better idea of items that can or should be addressed prior to listing your home.

Thanks for the image ...