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'What's News?' in Portsmouth, Virginia

Whether it's retail, residential, office or a maritime complex, Portsmouth offers a unique atmosphere: a metropolitan-based market with a hometown feel and a pedestrian-friendly downtown. Our renaissance and a multitude of favorable federal, state and city incentives have inspired businesses to locate and expand throughout the city.

March 15, 2010

MAST One

"New and expanded business at Hampton Roads Crossing include the U.S Food and Drug Administration as well as MYMIC and Visense. The FDA will occupy 4,000 square feet and current tenants MYMIC and Visense will grow into additional, contiguous space. There has been a lot of activity amongst the defense contracting industry, in part due to contract recompetes at JFCOM. It has caused some smaller companies to need office space nearby, as well as adding high paying jobs to this area."

Located on the border of Portsmouth and Suffolk, this project makes it ideal for companies needing a central location. MAST One is easily accessed by Newport News, Hampton, downtown Norfolk and Greater Chesapeake. Having VMASC and ODU right next door allows tenants to take advantage of high tech conference facilities, a labor pool, and relationships within the Modeling & Simulation world."

December 8, 2009

ARMADA HOFFLER AND CITY OF PORTSMOUTH PARTNER ON REDEVELOPMENT OF CHURCHLAND PLAZA SHOPPING CENTER

Portsmouth, Virginia – Armada Hoffler and the City of Portsmouth are pleased to officially announce plans to redevelop the existing Plaza Shopping Center on the corner of Tyre Neck Road and High Street. The new, $9 million Churchland Marketplace will contain a 49,000 SF Harris Teeter and is slated to open in 2012. The Portsmouth Economic Development Authority is providing a $100,000 grant to aid in the redevelopment. Armada Hoffler and the city will work jointly to provide an orderly transition for the existing tenants and prepare the site for demolition and subsequent construction.

“We are pleased to continue working with the City of Portsmouth on their redevelopment initiatives. This will be our second recent collaboration – we began renovating the Children’s Museum in October – and are looking forward to moving ahead on the project,” said Lou Haddad, President and CEO of Armada Hoffler. “Additionally, we feel that Harris Teeter’s decision to add a location in Portsmouth, especially in light of the current economic situation, demonstrates their conviction of the market’s viability.”

“We are excited to have Harris Teeter make a commitment to invest and operate in the City of Portsmouth. Because of their confidence in us, our city and our residents will benefit tremendously,” stated The Honorable Mayor James W. Holley III.

“The EDA is pleased to join in announcing this new grocer to Portsmouth and is glad to make a grant available in the redevelopment of the Churchland Plaza Shopping Center,” said C.W. “Luke” McCoy, Chairman of the Portsmouth Economic Development Authority.

“Harris Teeter and its partners are extremely excited to begin a project that will bring approximately 100 new jobs to the area,” stated Jennifer Thompson, Director of Communication for Harris Teeter. “In addition, families surrounding our new store site can expect top-quality products, excellence in customer service and an extensive selection of national brand and private label products throughout our store.” Harris Teeter, Inc. with headquarters in Matthews, NC, is a subsidiary of Ruddick Corporation (NYSE:RDK). Harris Teeter is the 36th largest supermarket in the United States with 2008 sales of $3.99 billion. The grocery store chain employs over 21,000 associates and has 194 stores in North and South Carolina, Virginia, Georgia, Tennessee, Maryland, Delaware, Florida, and the District of Columbia.