Project Overview

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.

Atlantic Park site render

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/

Project Funding

Funding for the Atlantic Park project has been appropriated by City Council in the Capital Improvement Program (CIP) budget. The most recent appropriations included in the FY25-30 CIP budget are outlined below.

Copies of the adopted budget are available at every Virginia Beach Public Library location and in City Hall.

Atlantic Park Development Acquisition

Consistent with the Development Agreement for the Dome Site, the funds appropriated to this project may be made available to the City of Virginia Beach Development Authority to allow the Authority to be the purchaser and owner of such real estate.

Funding Includes

  • Property acquisition.

  • Due diligence.

  • Demolition.

  • Utility relocation & installation.

  • Project-related permitting.

Approved Budget Allocation

$9,194,182

Atlantic Park Entertainment Venue

This appropriation will fund the construction of an entertainment venue as part of the redevelopment of the former Dome site. The venue will have an estimated capacity of 3500 people for events.

The entertainment venue will be among a mixed-use, high density development including space for residences, offices, retail, restaurants, a surf park, and parking. The venue will be constructed on approximately 10.35 acres of City-owned property In the Central Beach Entertainment District.

Venue Highlights

  • Live musical performances.

  • Comedic acts.

  • Sporting events.

  • Spoken-word events.

  • Speaking engagements.

Approved Budget Allocation

$54,997,614

Atlantic Park Offsite Infrastructure

This appropriation will allow the timely design and construction of certain offsite infrastructure connected to the Atlantic Park Project.

Funding Includes

  • Pacific Avenue and 19th Street traffic signal and pedestrian crossing.

  • Pacific Avenue and 20th Street traffic signal.

  • 18th Street undergrounding duct bank and streetscape improvements from Artic to Pacific.

  • Arctic Avenue streetscape improvements and undergrounding duct bank.

  • 19th Street and Baltic Avenue traffic signal relocation.

  • 20th Street streetscape improvements, undergrounding duct bank and related stormwater.

  • Stormwater improvements abutting the project.

Approved Budget Allocation

$36,567,955

Atlantic Park Parking

This appropriation provides funding for public parking spaces at the former Dome site.

Funding Includes

  • Purchase of about 1,400 parking spaces in multiple garages within the mixed use development.

  • The parking will support retail, a surf park, the entertainment venue, restaurants, office, and residential units.

Approved Budget Allocation

$45,950,000

Atlantic Park Streetscapes

This appropriation supports the redevelopment of the former Dome Site Into a mixed-use, high density development including space for residences, offices, retail, restaurants, a surf park, an entertainment venue, and parking.

Funding Includes

  • Streetscapes.

  • Other public pedestrian area improvements.

Approved Budget Allocation

$6,000,000

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