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The Breeden Company Plans Beach Development to Generate Revenue for the City

Mixed use development will become a profit center for Virginia Beach

VIRGINIA BEACH, Va. – February 22, 2012 - The Breeden Company recently announced plans for a new development for the 25th Street corridor that will include an 147-unit apartment complex, parking garage and an iFly branded indoor sky diving experience on two acres the city now uses for public parking.

The proposed indoor sky diving center would be a franchise of iFly, which has locations in Orlando, Fla., Seattle and San Francisco. The structure is entirely indoors and air conditioned which represents the latest and most efficient design available for such a venue.

“This concept aligns with the long term goals for Virginia Beach set forth by city planners that will create a sense of year-round entertainment for residents and visitors at the Oceanfront,” said Developer Torrey Breeden. “Bringing iFly to the Oceanfront along with the extra available parking and apartment units will not only bolster the number of entertainment venues in the area but  will bring substantial additional revenue to the city as well. No city money was solicited or is expected at this time.”

In addition to the apartment units and the indoor sky diving center, the project will include a 600-space parking garage, nearly tripling the current parking capacity.

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 About The Breeden Company
For nearly half a century, The Breeden Company has built a solid reputation in the residential, multi-family, commercial, construction and resort development industries. The company has developed, built and operated over 6,000 apartments with an additional 720 units under construction and 1,078 planned units, two million square feet of commercial shopping center, and 1,700 residential homes. The organization’s diverse business model and successful track record has made The Breeden Company a leader in the real estate industry.