It was an exciting day in The Town Center of Virginia Beach today, as Armada Hoffler broke ground on its newest tower, 4525 Main Street. The event was attended by more than 100 people including Governor Bob McDonnell, Virginia Beach Mayor Will Sessoms, Dan Hoffler and Lou Haddad from Armada Hoffler, Clark Nexsen Chairman/CEO Tim Windborne, as well as other city officials.
The $95 million tower is 15 stories, including 288 apartments, first-floor retail and office space, as well as a 950-space parking garage. Clark Nexsen is designing the building and will move its headquarters from Norfolk to the new tower in Virginia Beach. Divaris Real Estate will lease and manage the new building, which is scheduled to be completed in late 2014.