NORFOLK, Va. – Tuesday night Norfolk city leaders approved to invest an extra $500,000 for the new IKEA store set to open.
The City of Norfolk has already agreed to pay $5 million to build the new IKEA store.
According to the city’s development director, the additional money would offset unanticipated development costs.
Those costs include adding a structured parking and the ability to elevate the IKEA property to allow for underground storm water retention.
IKEA will contribute around $75 million.
The new store is supposed to be built on Northampton Blvd., near the new outlet mall that is currently under construction.