This project consists of a proposed mixed-use, multi-venue entertainment complex on a 10.35-acre property located between 18th and 20th streets known as the old Dome Site.
Following an RFQ process that sought proposals for a development team to design and build a year-round entertainment complex on the site, Venture Realty Group was selected as the preferred developer to manage and construct all facets of the project.
In January 2019, the City and Venture Realty agreed to a non-binding term sheet that outlines the essential elements of the project. It is the basis for the proposed development agreement. City staff and representatives from Venture Realty Group briefed the City Council on the agreement on Tuesday, October 29 at 2 p.m. The slides are under Related Information in the page sidebar.
After a public hearing on November 12, the City Council and the Virginia Beach Development Authority both voted on November 19 to support the $325 million project.
Features of the Development
- Year-round destination with programming for locals and tourists
- Wavegarden Surf Park (1,000 waves per hour)
- Live entertainment venue to accommodate 3,500 ticketholders
- Unique/new to market retail & restaurants
- Additional entertainment concepts
- 425 market rate residential units
- See more at www.venturerealtygroup.com/dome-site/