VIRGINIA BEACH, Va. – Armada Hoffler Properties will break ground on a new $35 million mixed-use development project in the Town Center area of Virginia Beach on Monday morning.
The development will include 39,000 square feet of street-level retail and restaurant space and approximately 120 luxury apartments.
Two well-known national retailers that have committed to over 18,000 square feet of space at the base of the residential tower will be announced at the ceremony,
Zeiders American Dream Theater will invest approximately $8 million in a 17,000 square foot performing arts theater and the City of Virginia Beach will invest around $3 million in public infrastructure to include an open-air public plaza on the second level and a pedestrian bridge connecting to the adjacent parking garage.
The development is expected to be completed in the spring of 2018.
“We are thrilled to be moving forward with this new addition to Town Center,” commented Louis S. Haddad, Chief Executive Officer. “This mixed-use development will offer additional shopping, dining, and entertainment options that will complement and even enhance an already impressive Town Center roster, while adding sought-after residential space in the City’s urban core.”
The ground breaking takes place at 11 a.m. in the Fountain Plaza at the corner of Central Park Avenue and Commerce Street.