Signature Development Sought Along Norfolk, VA Chesapeake Bay Front

Signature Development Sought Along Norfolk, VA Chesapeake Bay Front

Norfolk Redevelopment and Housing Authority


Norfolk Redevelopment and Housing Authority (NRHA) invites successful residential/mixed-use developers to respond to a Request for Qualifications (RFQ) for the opportunity to purchase assembled parcels totaling 3.67 acres, and create a signature development along the Norfolk, Virginia Chesapeake Bay front known as Ocean View.

As the nation's largest estuary, the Bay offers unmatched leisure and recreational opportunities. Just outside the Ocean View neighborhood lie Norfolk's amenities as the business and cultural center of the Hampton Roads region (1.6 million population).

This project would continue Ocean View's remarkable resurgence where developable land is scarce and complement the traditional, as well as new housing stock and amenities built over the last decade.

An example of current Ocean View real estate activity is East Beach a 100 acre development on the Chesapeake Bay. This traditional neighborhood development is fashioned after classic Southeastern seaboard coastal villages. The $400 million development includes 700 residences, neighborhood restaurants, boutique shops as well as marina and offices.

The neighborhood was home to the 2005 Coastal Living Idea House. East Beach was named one of the nation's top restored beaches in 2007.

East Beach sales are outperforming the regional and national markets. Project build-out will be two years ahead of schedule. Other residential projects underway in Ocean View include the Bay Village Condominiums, a $15 million, five-story project.

Prospective developers should maximize the highest and best use of the offered site to further strengthen the vibrant residential environment in Ocean View.

"This is an outstanding opportunity to develop a mixed-use property in a desirable, up-and-coming waterfront location," states Jim Gehman, NRHA Assistant Executive Director.

For more information, visit www.nrha.us or for a hard copy of the RFQ, call (757) 533-4688 or (757) 314-1603.

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Related Link: Chesapeake Street Request for Qualifications (RFQ)

For more information contact:

Kelly Williams
Norfolk Redevelopment and Housing Authority
201 Granby Street
Norfolk
Virginia 23510
US

Phone: 757.314.1645
Email: [email protected]
Web: www.nrha.us

Posted March 7, 2008



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