Zirpoli/Perrine Plans $40M Mixed-Use Project on Ocean View Ave.
By Adrian Maties, Associate Editor
A new mixed-use project will bring up to 280 apartments and retail space to Norfolk. On March 18, the city council approved the $3 million sale of 5.7 acres at 719 E. Ocean View Ave. to Robert Zirpoli’s Ocean View Properties Inc.
The land consists of two parcels. It includes the former Ramada Inn site and the Senior Center in Ocean View. The hotel was previously a Voyager Motor Inn, a Ramada Inn and a Howard Johnson. The city condemned the building because of mold and structural problems. In 2010, it acquired and demolished the hotel. As of last July 1, the site’s assessed value was about $4.9 million.
Zirpoli/Perrine Development, which has also created subdivisions in Virginia Beach and Chesapeake, plans to transform the site into an upscale $40 million mixed-use complex that could help revitalize the Ocean View area. On Zirpoli/Perrine’s agenda is a gated apartment complex with between 250 and 280 one-,two-, and three-bedroom units. Also included are about 20,000 square feet of retail.
According to a proposal submitted by the developer last year, the complex will feature a pool and an exercise facility. Its architecture will reflect East Beach-style design.
The project will be developed in three phases. According to city documents, it will generate an estimate $450,000 in tax revenue annually. The developers have yet to disclose a timeline for construction.
Photo credit: City of NorfolkTags: Acquisitions/Dispositions, Apartments, Commercial, commercial real estate, Developers, Development, Hampton Roads, Local, mixed-use, multi-family, norfolk, Ocean View Properties, residential real estate, retail, Richmond, Richmond-Hampton Roads Lead Story, Robert Zirpoli, ZP Development