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Business bank opens in Virginia Beach
Integrity Bank for Business opened for business May 3 in Virginia Beach, led by former Heritage Bank President and CEO Michael S. Ives. The first new community bank established in Hampton Roads since 1998, it received regulatory approval last month. In January it announced that it raised more than $20 million in stock purchase commitments. […]
Hampton Roads bank receives regulatory approval
Integrity Bank for Business, a new bank forming in Virginia Beach, has received all necessary regulatory approvals to open for business as a bank, it announced Wednesday. The approvals obtained include: the issuance of a Virginia state bank charter from the Virginia State Corporation Commission and the Virginia Bureau of Financial Institutions; deposit insurance from […]
Hotel revenues down 39% in February
Virginia hotel revenues for February 2021 declined by 39% compared to February 2020, according to data released Thursday by STR Inc., a CoStar Group division that provides market data on the U.S. hospitality industry. During the same period, rooms sold declined by 23%. The average daily rate (ADR) paid for hotel rooms dropped 21% to […]
Elizabeth River Project receives $2.1M naming gift
The nonprofit Elizabeth River Project announced Thursday that it has received a major naming gift of $2.1 million from Norfolk‘s Pru and Louis Ryan. The gift, the largest in the organization’s history, will attach the Ryans’ names to the Elizabeth River Project’s Resilience Lab that will be built along the Elizabeth River at 4610 Colley […]
Breeden buys $3.5M Newport News site for apartments
Breeden Investment Properties Inc. purchased a 5.06-acre land parcel to build a 176-unit apartment complex in the 200-acre Huntington Pointe residential development. The Virginia Beach-based commercial real estate development company paid $3.52 for the vacant parcel. Breeden purchased the property, located off of Denbigh Boulevard near the York County line, from Huntington Pointe LLC. C. […[...]
757 economic recovery plan focuses on cooperation
At a Thursday news conference, Hampton Roads regional leaders unveiled a new economic recovery plan for the next two years that focuses on cooperation and resiliency. Hampton Roads Alliance President and CEO Doug Smith presented a report detailing multiple goals for the region to help it recover financially after the COVID-19 pandemic and resulting job […]
Three Hampton Roads revitalization projects receive $1M from state
Gov. Ralph Northam announced Tuesday that $1 million in Port Host Communities Revitalization Fund (PHCRF) grants will go toward three projects in Hampton Roads including revitalizing the vacant 57,792-square-foot Willis Building in Norfolk, making updates to the Menchville Marina to aid the state’s oyster industry and redeveloping the 51-acre Lovett Point property in Portsmouth for […[...]
Local officials slam Northam administration’s COVID vaccine rollout
With Virginia lagging behind other states in getting residents vaccinated for COVID-19, officials in Hampton Roads, Fairfax County and Chesterfield County have gone straight to the governor with complaints and concerns about the process, which Chesterfield supervisors categorized as “totally defective” and Hampton Roads officials deemed “inconsistent,” saying it’s &#[...]
Norfolk communications equipment manufacturer to create 68 jobs
A $6.5 million expansion by Norfolk-based Tabet Manufacturing Co. will create 68 jobs in the region, Gov. Ralph Northam announced Friday. The communications equipment manufacturer will expand its operations by constructing a new manufacturing facility next to its current location at 1336 Ballentine Blvd. Tabet was founded more than 60 years ago and developed the […]
Hampton Roads Realtors Association installs new chairman
Berkshire Hathaway HomeServices Towne Realty announced last week that Tanya Monroe, the managing broker of its Chesapeake sales office, has been installed as Hampton Roads Realtors Association’s (HRRA) chairman for 2021. With 20 years of experience in the real estate industry, Monroe has experience as an agent and as president of the Tidewater Association of […]
Dominion announces construction has begun on offshore wind vessel
Dominion Energy Inc. announced Wednesday that construction has begun on the utility’s new vessel that will ferry the workers and huge components needed for its planned buildout of the largest offshore wind farm in the country off the coast of Virginia Beach. Named Charybdis after the sea monster from Greek mythology, Dominion’s U.S.-flagged ship will […]
Va. hotel revenues remain 51% lower than last year
Virginia hotel revenues continue to decline by more than 50% when compared with last year, according to data released Wednesday from STR Inc., a CoStar Group division that provides weekly market data on the U.S. hospitality industry. Hotel revenues in Virginia dropped by 51% and rooms sold declined by 33% last week, compared with the […]
