Virginia Beach Closer to Oceanfront Development Deal
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VIRGINIA BEACH-- A large revitalization project in Virginia Beach may soon be getting off the ground.
The Breeden Company, a Virginia Beach development firm, is behind a $47 million plan to build a giant wind tunnel at the Oceanfront.
"People will go into an indoor environment that's safe and protected and experience the same thing that a free falling skydiver would experience," said Torrey Breeden, Vice President of Marketing at The Breeden Company.
As part part of the deal, The Breeden Co. will purchase property at 25th Street that is now a parking lot, and will build a parking garage, residential complex along with the wind tunnel.
"We said we'll build you a parking garage and you let us use some of the land to put our wind tunnel there, and that made sense to them and it made sense to us," Breeden said.
Barry Frankenfield is the Director of the Office for Strategic Growtt. He supports the plan and will present it to the city planning commission next month.
"This brings new public parking, it brings new investment for year round activity, and brings a great entertainment facility,” said Frankenfield. "I hope it's well supported. It calls for very little cash out from the city with a great investment from a great private developer."
If city council approves the agreement, The Breeden Co. hopes to begin construction at the end of this tourist season and open in Spring 2014.