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F-22 fighter jet training unit will relocate to Joint Base Langley-Eustis
The U.S. Air Force is relocating the branch’s only advanced training unit for F-22 Raptor fighter jets from Florida to Joint Base Langley-Eustis in Hampton, bringing some 2,300 people to the region, the Air Force confirmed to the Air Force Times newspaper on Wednesday, June 23. “We are thrilled to welcome the F-22 Raptor formal […]
Hampton Roads sees small increase in active home listings
The Hampton Roads area saw growth in new home listings, pending sales and settled sales in May 2021 compared to May 2020, the Real Estate Information Network Inc. reported in its monthly update on the region. All new listings (listed three days or less) were up 24.74% year-over-year in May, and settled sales saw a […]
Rolling out the red carpet
With high-speed subsea internet cables landing on Virginia Beach’s shores and massive wind turbines propelling off its coast, the state’s largest city is primed to welcome new businesses and industries generating high-end jobs. “Virginia Beach is going to be the epicenter of economic development on the East Coast,” says Mayor Bobby Dyer. “I am convinced […]
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 […]
