Transformative Project Coming to Norfolk
- Jul 27, 2015
A renovation project which has been in the works for several years is about to finally break ground. The Cordish Co. and the City of Norfolk have recently announced that August 26 has been selected as the official construction start for the Waterside Live! entertainment district on the banks of the Elizabeth River.
The project is a redevelopment of the existing Waterside Festival Marketplace, originally built in 1983. The City of Norfolk has been looking for ways to revamp Waterside since 2011. In August 2013, officials approved a deal with Baltimore-based Cordish to redevelop the property. More than a year later, in October 2014, the City transferred the building over to the developer, who agreed to invest nearly $40 million into the project.
By the time it opens in the spring of 2017, the new Waterside Live! district will offer “best-in-class restaurant and entertainment venues in one destination.” The project is expected to create 800 new jobs, $93 million in direct revenue over 30 years and $850,000 in parking revenue. This is why Cordish and the City are already calling the August 26 groundbreaking a “great day” and a “milestone” for Norfolk.
Rendering courtesy of www.WatersideLive.com.