Farm Fresh building torn down to make room for apartments in Virginia Beach
VIRGINIA BEACH — Heavy machinery is tearing into the side of the former Farm Fresh grocery store on Laskin Road at the Oceanfront this week. The building will be razed to make room for a new apartment complex. The Breeden Co. plans to build 240 apartments on the 2.26-acre site next to the Laskin Road roundabout. The $66 million project — The Pinnacle on 31st Street — will open in 2023.
The grocery store was built in 1978, according to city records. Farm Fresh closed in 2018 when its parent company, facing stiff competition and lagging sales, sold off or shuttered all of its stores. The building remained boarded up and vacant. In 2019, local investors took over the lease and began looking for a new tenant.
The Pinnacle on 31st Street will be a single u-shaped building featuring a two-level parking deck below five stories of “luxury” apartments, including one-, two- and three-bedroom units with balconies. Several penthouse units will be available. Apartments will range in size from 775 to 1,391 square feet. The Breeden Co. has not released rent prices yet.
Mom-and-pop restaurants and retail shops at the east end of Laskin Road expect the influx of residents will boost one of the main gateways into the resort area. Those small businesses are galvanizing to form a new commercial district dubbed The Artery.
To read the full article, click here.
Nationally recognized, with over 60 years of expertise in every facet of the industry, The Breeden Company is a vertically integrated real estate development organization that boasts market-leading divisions including commercial real estate, multifamily property management and construction. With a portfolio of over 20,000 apartments and 2 million square feet of retail and office space that have been owned, managed and developed, The Breeden Company is one of the premier real estate development firms in the nation. Breeden Realty is one of the top commercial real estate firms in Virginia (Virginia Business, 2021); Breeden Property Management is one of the top multifamily property management firms in the country (Multi-Housing News, 2021); Breeden Construction, the much-acclaimed multifamily general contractor for numerous third-party clients, is one of the top multifamily builders in the country (Multi-Housing News, 2020).