Armada Hoffler Continues Virginia Beach Town Center Development
- May 19, 2016
Virginia Beach, Va.—Armada Hoffler Properties recently announced its newest pipeline addition, a $32 million mixed-use project as part of the Virginia Beach Town Center development. Located in the core of the city’s central business district and initiated in 2000, the 25-acre, 17-block development is now reaching phase VI.
With this new phase, the public-private partnership between Armada Hoffler and the City of Virginia Beach is adding approximately 33,000 square feet of street-level retail, 5,000 square feet of restaurant space, and 120 luxury residential units. The project is set to break ground in the second half of 2016 and Armada Hoffler Construction Co., a division of the parent company, will act as general contractor.
The project will also include an $8 million, 17,000-square-foot performing arts theater built with funds from Zeiders American Dream Theater and approximately $3 million of investments in public infrastructure provided by the City of Virginia Beach.
“Later this year, the company expects to announce two exciting national retailers that have already committed to more than 18,000 square feet of space at the base of the future residential tower,” said Louis Haddad, CEO of Armada Hoffler, in prepared remarks.
Image courtesy of Armada Hoffler