Hope for Ward’s Corner Redevelopment?

March 30, 2023

One of the largest parcels in Norfolk’s Ward’s Corner has gone up for sale. Assessed by the City of Norfolk to be worth more than $5 million, the shopping center at the Northeast Corner of Little Creek and Granby Street has been owned by the Dalis family since at least 1947. According to LoopNet, a commercial real estate website, that property is now for sale. 

The listing comes after years of frustration by locals interested in seeing Ward’s Corner develop into a hub for the north side of Norfolk. 

“Folks in Wards Corner have begun to despair that, once again, they have been fooled into thinking their neighborhood stood on the verge of a rebound.

 

Acting Economic Development Director Chuck Rigney said Wards Corner remains the focus of considerable interest. Dalis “feels she can continue to entertain opportunities,” Rigney said. “She’s going to be the one who determines what’s in the best interests of her center.”

 

It’s hard to imagine that empty space fits that definition, for Dalis or for anyone.

 

Councilman Andy Protogyrou let his frustration with Dalis show. “She put lipstick on a pig, but if she would actually rent the property she would turn it into a peacock,” he said.

 

Norfolk waits, no longer patiently, for Wards Corner and Waterside to get the rest of that makeup on and come to the dance.”

Since the article in 2013, the property was slowly leased, yet there were bigger plans in the works. 

In 2019, the City of Norfolk shared a long-term plan for Ward’s Corner that included a new street, new structures on existing parking, and new upper floors on the Dalis property. 

The adopted “urban area development plan” also includes theoretical future light rail stations.

While the possibility that the property may land in the hands of more like-minded owners is exciting to long-time watchers, the reality may be more disappointing. The commercial real estate market has come under intense economic pressure. Rising interest rates are making it significantly more expensive to purchase, regional banks are limiting some loans, and digital competition for retailers and office space is depressing rent potential. The conditions suggest that there won’t likely be a barrage of buyers ready for the property, in fact, industry insiders say that if economic conditions were better, a buyer would be lined up before the property would ever be listed on LoopNet. 

Unfortunately, the future of Ward’s Corner seems to be “wait some more.”

Paul Stetson Rice

Chelsea, NFK

Paul is the creator of NFKVA.com. He was born and raised in Norfolk, graduated from Virginia Tech, and narrowly avoided law school. Chat with him about economics, entrepreneurship, hip-hop, and hiking. When he's not working on five different projects, you'll catch him sharing a beer with friends at a local brewery.

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