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Paula C. Squires// July 20, 2015//
The city of Norfolk and The Cordish Cos. have scheduled a groundbreaking ceremony for Waterside Live! for Aug. 26. They are hailing the event as the beginning of a new era for the old Waterside Festival Marketplace, a waterfront indoor mall project that will be renovated into a $38 million regional dining and entertainment venue.
“We are pleased to welcome Cordish as they begin construction on Waterside Live!, which will create hundreds of new
jobs, bring more energy downtown, and generate millions of dollars of revenue for the city,” Norfolk Mayor Paul D. Fraim, said in a statement.
According to the city, the project is expected to provide 800 new jobs, $93 million in direct revenue over 30 years and $850,000 in parking revenue.
Waterside Live! is set to open in spring of 2017. It will be a key structure in Town Point Park, an urban waterfront park, located on the Elizabeth River in downtown Norfolk.
Officials from the city and Cordish, based out of Baltimore, Md., will be on hand for the ceremony.
