Five blocks are complete in The Town Center of Virginia Beach, while the sixth, with the high-end Cosmopolitan apartments and fashion stores is nearly complete.

Virginia Beach's Town Center Enters Phase III

VIRGINIA BEACH, VIRGINIA --“The public’s enthusiastic response to The Town Center of Virginia Beach is reflected by the large volume of business being transacted by the tenants,” says Gerald S. Divaris, chairman and CEO of Divaris Real Estate, Inc., “At the end of the day, the fact that great sales are being generated is the most important thing.”

      The $500 million Town Center of Virginia Beach has seen tremendous growth and activity in the past year, as the third and fourth full blocks have been completed.  In Block 3, The Cheesecake Factory has yet to have a slow day since it opened the doors to its 11,507-square-foot full-service restaurant in the summer 2004.   Keagan’s Irish Pub and Restaurant has offered great food and entertainment to patrons from the  corner opposite to The Cheesecake Factory.  Across the street from Keagan’s is Ann Taylor Loft, part of the Block 8 fountain plaza that contains Bravo! Cucina Italiana, Funny Bone Comedy Club and the latest star in the crown of the Town Center, Ruth’s Chris Steakhouse.  The New Orleans-based Ruth’s Chris has more than 80 fine-dining restaurants worldwide.      

Westin Hotels plans to construct a 37-story hotel and residential development within The Town Center of Virginia Beach.

Plans for additional growth have also been announced to occupy more of the 17 city blocks comprising The Town Center of Virginia Beach.  Westin Hotels plans to construct a 37-story hotel and residential development at the corner of Independence Boulevard and Columbus Street, across from Dick’s Sporting Goods. 

      The condominiums, known as The Residences at the Westin will offer a luxurious lifestyle for the “Urbanite” with its 104 luxury condominium units, featuring floor plans that range from 2,200 to 4,000 square feet.  Unparalleled vistas of the oceanfront, downtown Norfolk and the Chesapeake Bay can be seen from the breathtaking balconies.  Residents will also enjoy nine-foot ceilings, concierge service, maid and room services, spa, health club facilities and conveniently covered valet or self parking.

      An alternative to the condos are the apartments that are due to be completed this fall on Block 10.  The 341 Cosmopolitan Apartments are being built with quality finishes and first-class amenities, unlike any other seen in the Hampton Roads market.   Residents of the studio, one-, two-, and three-bedroom apartments will all take advantage of the private club, rooftop swimming pool and cardio wellness center.  As if having movies, ten upscale restaurants to choose from, great shopping, live entertainment and businesses within steps from your front door aren’t enough, an after-hours doorman, monitored building access, boardroom with high-speed internet access and a demonstration/catering kitchen are available to all residents of The Cosmopolitan as well.  

      Additionally, The City of Virginia Beach approved plans to build its $50 million Performing Arts Center on the block adjacent to the Westin Hotel.  The groundbreaking for Block 6 took place in mid-May and it will open in summer 2007.

The City of Virginia Beach broke ground on its $50 million Performing Arts Center on the block adjacent to the Westin Hotel.

      Sonoma Wine Bar & Bistro is planning an August opening and will be located on the opposite corner of Ann Taylor Loft on Block 8, on the first floor below Ruth’s Chris.  Zushi, a unique sushi restaurant, is opeing June 1 next to Stanley Adams Stationery on Block 4, facing The Cosmopolitan apartments.

      Recently signed tenants include:  Plow and Hearth home accessories, Sunglass Hut, Atlanta Bread Company, Johnny Rockets, Jones Art Gallery, Samuel Shriqui Day Spa, and beauty retailer Origins.

      Other tenants currently featured in The Town Center of Virginia Beach include P.F. Chang’s China Bistro, California Pizza Kitchen, The Cheesecake Factory, D’Mustard Company, Red Star Tavern, Town Center City Club, Cold Stone Creamery, Sumatra Day Spa, Eclectic Design Florist & Gifts, Men’s Wearhouse, Irving’s Detailing Salon, Town Center Fitness, Stanley Adams Stationery, Funny Bones Comedy Club and Restaurant, Dick’s Sporting Goods and Towne Bank. 

      The Town Center of Virginia Beach, a $500 million public/private partnership, is rapidly gaining recognition across the Mid-Atlantic region with approximately 700,000 square feet of upscale retail space, 800,000 square feet of Class A office space, 600 deluxe apartments and two hotels.  Town Center is owned and developed by Armada Hoffler and leased and managed by Divaris Real Estate, Inc., whose principals are also partners in the project.

      The Town Center of Virginia Beach is being developed by Armada Hoffler, one of the nation’s premier commercial real estate and construction companies specializing in the development, construction and ownership of quality, institutional-grade real estate located in primary markets throughout the U.S. Over the past 25 years, Armada Hoffler has developed and built more than 18.6 million square feet of commercial real estate with a market value in excess of $2.3 billion.