I like the place: it's a nice location for a lunch more informally than most of the Granby Street restaurants. However, Norfolk is considering razing it; most of the restaurant leases are up in 2010. http://hamptonroads.com/2008/05/some-norfolk-leaders-want-waterside-be-razed
I put my money where my mouth and heart is: I went to Waterside for lunch today. Yes, it needs sprucing up (particularly those terrible tables!), but it's salvageable. From the size of the crowd, many others want to save Waterside, too.