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Portsmouth, Va.
The right, place,
the right time.
Portsmouth offers a unique atmosphere:
a metropolitan-based market with a hometown feel and
a pedestrian-friendly downtown. With a unique waterfront
setting, in the center of Hampton Roads, Portsmouth
offers some incom-parable opportunities.
The city is capitalizing on its historical character
and waterfront location. In 2004, new industrial, office,
residential and retail developments totaled
over $1.2 billion in private investment.
APM Terminals is building the country's first major, privately developed shipping
terminal on the Elizabeth River. Due to open in the third quarter of 2007,
the $450 million terminal is the single largest private investment in Hampton
Roads'
history and the eighth largest on record in Virginia.
For businesses, Portsmouth offers a rare chance to locate in a convenient setting
at a value not available elsewhere. Waverton Industrial Village, featuring
two spec warehouse buildings with up to 134,000 square feet, is under construction
at Greenwood Industrial Park. Two 36,000-square-foot office/warehouse spec
buildings
are under construction in PortCentre Commerce Park. The 135-acre Victory Crossing
Business Park, currently under development, is ideal for Class A and B office
users and will host the Portsmouth Campus of Tidewater Community College. Both
PortCentre and Victory Crossing are designated empowerment, enterprise and
HUBZone areas offering cash savings and tax credits to businesses.
Retail is returning to Portsmouth,
and it is "super sized." The
city's first Wal-Mart Supercenter will open in Midtown in 2006, and
additional opportunities
for major retailers are nearby. Victory Crossing Shopping Center, a
500,000-square-foot center anchored by Lowe's and Farm
Fresh opened in 2002 and continues
to attract new retailers. Properties along the revitalized Downtown
High Street
corridor
are available for specialty shops and restaurants.
The newest jewel in Portsmouth
is the expanded Virginia Sports Hall of Fame, an interactive
family attraction in downtown. It joins other amenities
including:
The Children's Museum of Virginia, the largest in the state; The
Renaissance Portsmouth Hotel and Waterfront Conference
Center featuring 249 guest rooms
with waterfront views and the striking NTELOS Pavilion at Harbor
Center, a 6,500-seat,
outdoor theater, offering cultural and contemporary arts from May
through October.
Don't overlook residential developments in Portsmouth. New Port, a $400 million
community with 1,628 homes, is under development on 208 acres surrounding Victory
Crossing Business Park. New Port will offer nine housing styles from single-family
homes to stylish town homes and condos ranging from $180,000 to $400,000. In
western Portsmouth, two condo communities are under construction: Gateway at
Sterling Point and the Villas at River Pointe.
Simply put — Portsmouth
is a city on the move. Take the opportunity to find
out how your business can benefit from being in the
right
place at the right
time.
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