VIRGINIA BEACH – City officials announced on Tuesday morning that a developer has been chosen for an entertainment complex at the Oceanfront.
The multi-use venue could include features such as a 3,500-seat live music venue, apartments, mixed retail space and more. According to The Virginian-Pilot, a surf park will also fill the more than 10-acre space.
The Venture Realty Group entered a six-month exclusive negotiation period to develop a term sheet and ultimately, a development agreement for the multi-venue complex at the former Dome site, located between 18th and 20th Streets.
The Pilot also reported that musician and Virginia Beach-native Pharrell Williams is a partner in the proposed project.
“While there is a lot of work still ahead, this is a very important step in the process,” said Virginia Beach Development Authority Chairperson Dot Wood in a news release. “We were fortunate to have four highly qualified development groups express interest in working with the city on this project. Ultimately, we’re looking to create a year-round entertainment destination that people will enjoy visiting and the Venture Realty Group team presented the most compelling vision.”
A request for proposals earlier this year that asked responders to submit bids that would include features such as a 3,500-seat live entertainment performance venue, unique restaurants and “a truly unique resort and commercial destination that would be unlike any development on the East Coast.”
The agreement will allow for a period of six months to accomplish the research, analysis and studies necessary to complete the term sheet and development agreement.
Public input will be sought to allow residents to choose the best mix of venues.
The site has been a parking lot since 1994 when the Dome was demolished.
“Previous development concepts for the site have not come to fruition, but we gained good insights into the market and opportunities for this type of development,” said Deputy City Manager Ron Williams in the release. “We feel very optimistic that the city and Venture Realty Group can make this exciting vision a reality.”
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