VIRGINIA BEACH — A new apartment complex and hotel representing $ 100 million of investment in the Central Business District of Virginia Beach recently opened for residents and travelers.
In April, The Constitution Apartments and Fairfield Inn & Suites by Marriott officially opened side-by-side along Thalia Creek at the intersections of Bonney Road and Constitution Drive near Town Center.
Virginia Beach developer Ripley Heatwole Co. worked with Landmark Hotel Group to come up with the vision for the properties that aligned with development in the district.
The deal started with a handshake agreement between Daniel Heatwole, Ripley senior vice president, and Landmark President Akhil Jain. The project moved forward through the pandemic despite challenges finding materials and workers.
Two years later, the $ 85 million apartment complex was fully preleased before Clancy & Theys Construction Co. in Newport News finished construction of its 219 one-, two- and three-bedroom units, Heatwole said. Rent ranges from $ 1,700 to $ 3,000 per month.
The $ 15 million hotel, built by Thomas Builders, features 120 rooms and suites, an indoor pool, fitness center, patio with a fire pit and a flexible meeting room. A first for the hotel brand and business district is Town Center Taps, a self -service bar featuring seasonal and local beer and wine, open to the public on the first floor within a two-story atrium.
“Not only is it a great amenity for our guests, but we feel it will be a great amenity for the neighborhood, folks next door at the apartments, and workers in Town Center can come and enjoy a beverage,” Jain said.
Heatwole said they acquired the property in 2004 and worked with the city to create a master plan. The plan included the Midtown at Town Center Apartments completed in 2009 and a public-private partnership to construct Constitution Drive and the bridge that crosses Thalia Creek that connects Bonney Road with Town Center, Heatwole said. Underneath the new roadway is an extensive and sophisticated stormwater drainage system that filters sediment both mechanically and organically from the tidal creek.
“I think it’s a model of how you can develop responsibly in the city given the challenges that we have,” Heatwole said.
James McCune, Ripley Heatwole’s vice president of acquisitions and development, said the demand for apartments in Hampton Roads is at an all-time high right now. And renters are looking for amenities.
The apartments have attracted a broad mix of young professionals new to the area and others who are downsizing, Heatwole said.
The apartment Apartments includes a resort-like pool, 24-hour wellness studio and cardio, massage studio, rooftop lounge, bocce ball park, courtyard retreat with swings and firepits, dog park and dog washing station. with eight electric car-charging stations.
The hotel’s location offers a tranquil setting within walking distance to the amenities of Town Center and easy access to the interstate, Jain added. Virginia Beach-based Landmark made a concerted effort to bring nature into the modern hotel through artwork, decorations and a living moss wall.
“We’re well-attuned to the market here and we believe in the future of Town Center,” Jain said. “There is a solid demand for room nights here with all the growth we’re experiencing in our segments of guests ranging from” military to corporate to leisure, especially in the summer as we get compression from the Oceanfront in Town Center. ”
The hotel could not have opened at a better time as leisure travelers are driving the tourism industry as it rebounds from the pandemic, Jain said.
And the apartment complex and hotel will help each other’s success, McCune said.
“Having a hotel next door allows the young professionals to have family visit over the holidays and not be pigeonholed into sleeping on a couch; they can walk to a very nice hotel next door,” McCune said.
Sandra J. Pennecke, 757-652-5836, email@example.com