VIRGINIA BEACH, Va. - Plans to reimagine a local mall into a mixed-use site are underway.
Pembroke Square Associates, developers of Pembroke Mall in Virginia Beach, is planning a series of updates to the 54-acre mall location. The $200 million project envisions a mixed-use destination where residential, shopping and dining come together in one community.
The company, a third-generation, family-owned local developer that built the mall in the 1960s, has set forth a bold vision for reimagining the longtime mall to include residential living for active seniors, a new-to-market hotel brand and multi-family, upscale housing. The property’s highly recognized flagship tenants, including Target; Kohl’s; Old Navy; Nordstrom Rack; REI; The Fresh Market; Walgreens; J. Crew Factory and DSW, will be a significant draw for these new project partners.
“We are committed to the legacy and long-term future of Pembroke Mall by bringing a new vision to reality for this area,” said Ramsay Smith, president, Pembroke Realty Group, the asset manager of Pembroke Mall. “We have significant opportunities to recreate Pembroke Mall and transform it into a lifestyle destination – where our community can live, work, dine, shop and play – all in one vibrant central location.”
Smith says malls nationwide have been challenged to reinvent themselves as online shopping has become more popular and retail brick-and-mortar stores close, and that the company’s projects respond to that reality by leveraging the existing offerings of Pembroke Mall while also integrating new features, residential communities and event spaces.
Pembroke Square Associates has outlined three initial projects related to the redevelopment of the mall location. They include:
- Independent senior living managed by Beth Sholom, a respected and recognized senior living company, based in Virginia, that serves people of all faiths
- A nationally known, new to the Virginia Beach market, contemporary full-service hotel concept
- Apartment living with innovative, attractive amenities that will appeal to young professionals, families and empty nesters.
“Each of these projects reflect our long-term, deliberate strategy to enhance Pembroke Mall for a sustained future,” said Smith. “In the coming months, we will provide further definition around our plans to achieve these goals.”
When completed, developers say Pembroke will be a lifestyle center where the Virginia Beach community can connect, create new memories and enjoy the best experiences in one great destination.
“Pembroke Mall has been family owned- and -operated since 1966. As we begin to redevelop the property, we want to do so in a way that creates energy, community and opportunity for this area and for our city,” said Fred Napolitano, Sr., one of the original founders and a current co-owner of Pembroke Mall.
“Virginia Beach is our home, and it’s where we are raising our families. That is why we are committed to the future of Virginia Beach by investing in an integrated, quality of life experience where our community can enjoy great amenities, green spaces, walkability and easy access to shopping and dining.” Napolitano also is a founding member of the Central Business District Association, which supports the growth and development of the business community within the City of Virginia Beach's Pembroke Strategic Growth Area.
Virginia Beach residents can follow the progress of Pembroke’s transformation on Facebook.
Related: 3 teams submit proposals to redevelop Norfolk's Military Circle Mall
