Sunday, December 10, 2023

This company is investing $80 million in Virginia Beach

(Southside Daily Photo/courtesy of the city of Virginia Beach.)
(Southside Daily Photo/courtesy of the city of Virginia Beach.)

VIRGINIA BEACH — PointOne, a hyperscale data center developer headquartered in Alberta, Canada, announced Tuesday plans to invest $80 million here.

The project consists of two phases and will involve construction of two 31,000-square-foot facilities that will house edge computing data centers, a cable landing station for future subsea cables and an international internet business exchange, according to a news release from the city.

Phase I completion is anticipated in the fourth quarter of 2019.

The Virginia Beach Economic Development Authority approved a purchase agreement for a 10.4-acre site in Corporate Landing Business Park to PointOne for $2.08 million.

“PointOne is further validation that Virginia Beach is a viable technology-centric community that is gaining international attention,” said City Councilman Ben Davenport. “We welcome this addition to our emerging data center market and we appreciate its significant investment in Corporate Landing Business Park.”

PointOne’s focus is on securing sites that provide flexibility, scalability and market-leading cost efficiency.

Its proprietary design-and-build strategy includes modular mechanical and electrical systems, which can streamline construction time to less than 180 days, according to the news release.

The company’s design strategy also supports a low cost-per-megawatt for capital construction and operating expenses.

These leading-edge design innovations position the company to offer competitive leasing rates backed by favorable power purchase agreements.

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