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The Breeden Co. starts construction on $70M waterfront apartment complex
Virginia Beach-based real estate developers The Breeden Co. began construction this week on a $70 million waterfront apartment complex in the Fort Norfolk area. The Lofts at Front Street will include a 258-unit, five-story apartment complex with studio, one-, two- and three-bedroom units, an internal parking garage and a pedestr[...]
Offshore wind components headed from Europe
Richmond-based Dominion Energy Inc. and Denmark-based Ørsted A/S announced Tuesday that major components of its $300 million Coastal Virginia Offshore Wind (CVOW) pilot project are being shipped to North America — which is on-schedule, despite the pandemic. Major components for the two, massive 6-megawatt Siemens Gamesa offsh[...]
Colonial Williamsburg extends closures through May, plans additional furloughs
Colonial Williamsburg Foundation is extending its closures through May 31 and is furloughing additional staff. The nonprofit, which owns and operates the Historic Area, museums, hotels, restaurants and other attractions, had originally announced closures would last through April 30. The Williamsburg Lodge, which has remained ope[...]
Virginia Aquarium names VP of marketing
The Virginia Aquarium & Marine Science Center in Virginia Beach announced Thursday it has named Natalie Sims as its vice president of marketing. Sims was most recently the marketing senior leader for SeaWorld, Aquatica and Sesame Place in San Diego, and previously the marketing director for Busch Gardens in Williamsburg. I[...]
Va. Beach real estate investment company names new managing principal, CIO
Virginia Beach-based real estate investment company Croatan Investments announced Monday that Eric Smith will serve as its new managing principal and chief investment officer. Smith was most recently the chief operating officer and CIO at Armada Hoffler Properties, also in Virginia Beach. During his career, he’s worked with [...]
Walk this way
Virginia Business virtually sat down with Joshua Weinstein, founder of Norfolk Tour Co., which provides public and private tour services in downtown Norfolk and surrounding areas. This is part of an ongoing series of conversations with Virginians about how their work lives and businesses have changed during the pandemic. Virg[...]
Sentara Healthcare, VCU Health System seal the deal on Virginia Premier
Norfolk-based Sentara Healthcare and Richmond-based VCU Health System finalized their previously announced joint ownership of the Virginia Premier health plan on Wednesday. Sentara is now the majority owner and VCU Health has a 20% ownership stake of Virginia Premier, a Medicaid managed care organization. Sentara announced the agreement in September 2019, which will serve more […]
Williamsburg apartment complex sells for $26.25M
A 224-unit apartment complex in Williamsburg sold for $26.25 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced Friday. The Regency at Longhill apartments are located at 5302 Lane Place Drive, which is less than 3 miles from the Warhill Sports Complex, the Williamsburg Premiu[...]
TowneBank moving closer to Norfolk Southern Tower purchase
Suffolk-based TowneBank is moving closer to purchasing the 22-story Norfolk Southern Tower, reaching an agreement to purchase a nearby downtown Norfolk parking garage for $8.5 million. TowneBank hopes to close on the parking garage and the Norfolk Southern building this summer, TowneBank spokesperson Joel Rubin said Thursday. T[...]
Two apartment complexes in Va. Beach sell for $7M+
Two apartment complexes in Virginia Beach have sold for $3.1 million and $4.525 million, respectively, commercial real estate investment company Marcus & Millichap announced this week. The Green Meadows Apartments sold for $3.1 million and the Breezy Meadows Apartments sold for $4.525 million, said Benjamin Yelm, regional ma[...]
Va. Beach-based DroneUp acquires AeroVista Innovations
Virginia Beach-based end-to-end drone pilot service company DroneUp LLC announced Thursday it has acquired Glenview, Illinois-based AeroVista Innovations LLC (AVI). The merged company will rebrand as The DroneUp Training Academy. DroneUp acquired AVI’s assets, employees and customer contracts. Financial terms of the transa[...]
Booz Allen Hamilton pledges job security for employees through July 1
McLean-based global IT consulting firm Booz Allen Hamilton has pledged to keep its 27,000 workers employed at least through July 1 during the COVID-19 crisis, and has also pledged funding to support employees dealing with health care and child care issues. The company announced Thursday it will redirect $100 million to a “pandemic resilience program” […]
