Armada Hoffler broke ground last weekon the $89 million 794,000-square-foot Main Street Tower at Virginia Beach Town Center.
Located between Main and Columbus streets, the project will be Town Center’s fifth phase.
Nine floors of the 14-story complex will be offices. Main Street Tower will also feature 18,000 square feet of ground-floor retail, 288 apartments and a 950-car parking garage.
The project’s financing package includes $70.4 million of private investment, an $18 million contribution from the city and $1 million in local grant funding for additional infrastructure.
Norfolk-based Clark Nexsen PC is designing the tower and plans to relocate its headquarters to the building from Norfolk, along with 350 of its 550 employees. The firm of Cox Kliewer is designing the apartments. Armada Hoffler plans to complete the office tower in July 2014 and open the multi-family portion that fall.
Gov. Bob McDonnell and Virginia Beach Mayor Will Sessoms spoke at the ceremony, along with Tom Winborne, CEO of Clark Nexsen, and Armada Hoffler’s president & CEO, Lou Haddad.
Photo: Clark Nexsen