Dome Site Survey

Staff from the City and Venture Realty Group presented the Dome Site Development Agreement to City Council this week.

In February 2017, City Council directed the Virginia Beach Development Authority to issue a Request for Letter of Qualification (RFQ) soliciting an experienced and qualified developer to design, develop and manage a mixed-use commercial development anchored by residential and entertainment uses.

Venture Realty Group was selected and has conducted over 50 public engagement sessions and commissioned studies. In January 2019, City Council approved a non-binding term sheet outlining the basic terms of the development agreement.

The purposed project is planned to include the following:

  • Mixed-use commercial tenant spaces, including experiential retail and restaurants
  • Class A commercial office space
  • Approx. 425 market rate residential units
  • Wavegarden Lagoon surf park
  • Music and entertainment venue, estimated to hold 3,500
  • Structured parking garages
  • Pedestrian common areas and amenities

The project’s estimated fiscal impact (once stabilized) is close to $8.2 million. Based on this estimate, direct revenue distributions include $1.9 million to Virginia Beach City Public Schools, $2.8 million to the City’s General Fund and $3.5 million to the City’s Tourism Investment Program (TIP) fund.

City Council will hold a public hearing on Nov. 12th and we a scheduled to vote on the agreement on Nov. 19th. Please take moment to complete the survey below. I am actively seeking public feedback on this proposal. 

Author: jessicapabbott

Jessica Abbott was born to two Gulf War Air Force veterans, is a small business owner and has been managing her family’s insurance business since 2008. She graduated from Kellam High School in 2007 and from the American College of Financial Services in 2015 with LUTCF and FSCP designations and is a FEMA-certified flood insurance agent. She has founded two nonprofit organizations for local women, one for teaching self-defense and the other as a networking group for other female entrepreneurs. She was elected to Virginia Beach City Council, and at 27, was the youngest-ever elected official in Virginia Beach and the first Millennial elected to public office in the area. She lives in Indian Lakes with her husband and two children. She serves on the Historic Kempsville CAC, the Elizabeth River Eastern Branch Board, the Process Improvements Board, Food Tuck Subcommittee, the Social Services Board and the Public Library Board. She justifies her votes on major issues on social media and helps keep citizens informed on her Council’s Facebook page https://business.facebook.com/jessicapabbottvb/.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s