Armada Hoffler announces groundbreaking of $35 million project in Virginia Beach
Armada Hoffler Properties Inc. will hold ground-breaking ceremonies on its newest $35 million mixed-use development project in the Town Center of Virginia Beach on Oct. 24.
The newest addition is expected to include 39,000 square feet of street-level retail and restaurant space and about 120 luxury apartment homes. Scheduled for completion in the spring of 2018, Armada Hoffler said the project already has attracted interest from two national retailers who have committed to more than 18,000 square feet of space at the base of the future residential tower. These tenants will be announced during the groundbreaking ceremony later this month.
In addition to the retail and residential components, Zeiders American Dream Theater will invest about $8 million in a 17,000- square-foot performing arts theater, while the city of Virginia Beach will invest approximately $3 million in public infrastructure including an open-air public plaza on the second level and a pedestrian bridge connecting to the adjacent parking garage.
The groundbreaking will be held on Monday, Oct. 24 at 11:00 a.m. in the Fountain Plaza at the corner of Central Park Avenue and Commerce Street in the Town Center of Virginia Beach. Executive officers of Armada Hoffler Properties and Zeiders American Dream Theater will attend as well as city officials, including Mayor William D. Sessoms, Jr. and representatives of the Virginia Beach Development Authority and the Department of Economic Development.