VIRGINIA BEACH, Va. — City leaders have approved a $75,000 study into a potential new development near the Virginia Beach Convention Center.
The study will look into how much a proposal from Capstone Development will cost the city and how much revenue could it generate.
Top Stories: Wednesday, Jan. 17
A recent audit of the spot near the convention center - located on 19th Street - found that it was underused.
Capstone Development
The proposal for the development includes:
- A 300-room hotel next to the convention center
- Over 900 apartment units
- Around 160,000 square feet of retail and residential space
Developers say it would bring around 4,700 construction jobs and 800 new permanent jobs. The study will take into account all those costs and impacts.
