VIRGINIA BEACH — Developers will break ground this year on a nine-story development at Town Center that will host businesses, apartments, a theater and a pedestrian bridge.
The City Council and Virginia Beach Development Authority both green lit the project, called “Block 9,” in separate votes Tuesday, putting the more than $41 million project in developers’ hands.
Scott Hall, the city’s business development coordinator, said developers are still sorting out construction timelines but expect to break ground late summer or early fall. He did not have an estimated opening date.
“Block 9” will replace the surface parking lot between The Westin and the Cosmopolitan Apartments.
More about the “Block 9” project
The first of nine floors will be 33,000 square feet of retail, according to plans. Directly above those shops will be the 300-seat Zeiders American Dream Theater, a restaurant, an 11,000 square-foot public plaza and a pedestrian bridge stretching to the parking garage below the Cosmopolitan Apartments.
About 120 apartments will be built on floors three through nine.
The Development Authority will spend a capped $4 million on the project. It is responsible for building elevators, staircases, the plaza, streetscapes and the walking bridge.
Town Center Associates LLC, the developer, will spend about $31 million building the project, which represents the sixth phase of Town Center. The company’s sole partner is Armada Hoffler.
Michael Zeiders, founder and CEO of Zeiders Enterprises Inc., will invest about $7.7 million building the performance theater.
