VIRGINIA BEACH, Va. (WAVY) – Virginia Beach officials are putting the finishing touches on a contract that will allow a local company to build a $200 million dollar arena across from the city’s convention center. But what has to happen to get the deal done?
Before Christmas, the city council approved a nonbinding term sheet that would allow United States Management to start building the arena. So, when will construction begin? According to Virginia Beach Mayor Will Sessoms, he hopes that a final contract will be ready for city council in the next few weeks and the project will finally be approved by mid-April.
If all goes as planned, construction on the project will begin this summer, and the arena will be ready to open in the fall of 2017.