Breeden Closes on Multifamily Site in Norfolk, Virginia
FOR IMMEDIATE RELEASE : June 25, 2019
NORFOLK, VIRGINIA – The Breeden Company is pleased to announce the purchase of 4.19 acre prime waterfront parcel along the Elizabeth River at 533 Front Street in Norfolk, Virginia for $3.3 million.
Breeden Construction will build the 258 unit, five-story multifamily development with an internal parking garage consisting of 387 dedicated spaces. Breeden Property Management will manage the mixture of studio, one-, two- and three-bedroom residences with stunning views of the Fort Norfolk waterfront with a pedestrian walkway along the Elizabeth River that enhances the boundary of the property along with renovations to the shoreline.
“The complex design structure of the project and the growth potential of the area sparked our interest,” said Timothy A. Faulkner, chief operating officer of The Breeden Company. “We look forward to developing this project in the City of Norfolk and providing an exceptional product to potential residents.”
The waterfront development is adjacent to Sentara Norfolk General Hospital, EVMS, Harbor’s Edge, Children’s Hospital of the Kings Daughters, People for the Ethical Treatment of Animals, the Elizabeth River Trail.
ABOUT THE BREEDEN COMPANY:
The Breeden Company is a nationally recognized real estate services company with over 50 years of expertise in every facet of the industry. Breeden Property Management, Breeden Realty and Breeden Construction are the three major subsidiaries of The Breeden Company, with a combined portfolio of nearly 10,000 apartments, over 2 million square feet of retail and office space and an additional 1,700 residential homes. Both Breeden Property Management and Breeden Construction are national award winners on their own merit and provide third party services to select clients. Family-owned and operated since 1961, The Breeden Company has grown into one of the most valued real estate development firms on the East Coast.
DANA E. WILSON
VICE PRESIDENT OF PUBLIC RELATIONS & CORPORATE COMMUNICATIONS