May 27, 2022
Then & Now: Armada Hoffler Tower 20 Years Reimagined
In 2002, the Armada Hoffler Tower was under construction in the heart of Virginia Beach, Virginia. Now, 20 years later, the building that we call our company headquarters remains standing in what is known as the Town Center of Virginia Beach.
The Armada Hoffler Tower is a 23-story office building that features 324,000 square feet of office space, 38,500 square feet of street-level retail space, and a nine-level parking garage. In addition to Armada Hoffler, some other major office tenants in the tower include Troutman Pepper, Pender & Coward, Cherry Bekaert, and Cushman & Wakefield | Thalhimer.
This tower was actually the first building built by our construction company in Town Center of Virginia Beach, with construction being finalized in 2003. At the time of opening, it was named the third tallest building in Virginia. Town Center of Virginia Beach now bolsters 14 properties with more than 150 commercial tenants. It spans 17 blocks and 25 acres, located in an optimal location between Norfolk and the Virginia Beach Oceanfront.
With $200 million invested by the City of Virginia Beach and $500 million invested by Armada Hoffler, Town Center continues to evolve. It generates more than $8 million each year in sales and taxes and continually proves to be a prime example of a successful public partnership.
What was once a dream has become a reality for so many involved and provided a great deal of economic opportunity for the city over the last two decades.
“Public-private partnerships played the central role,” said Lou Haddad, President and CEO of Armada Hoffler. “This would have never happened without the city’s foresight and without our ability to execute on their vision.”
Town Center of Virginia Beach is an Armada Hoffler owned mixed-use community in the Central Business District of Virginia Beach. The center features more than 800,000 square feet of office space, over 500,000 square feet of retail space, and more than 750 luxury residential units.
With more than 50 percent of the center’s commercial tenants being new to the city, it is easy to see how the Town Center of Virginia Beach is seen as an economic catalyst for Coastal Virginia.
During the first phase of development, the Town Center of Virginia Beach consisted of the Armada Hoffler headquarters as well as other retail and parking elements. This included the Hilton Garden Inn and TowneBank office.
Over the last couple decades, the initial foundation of the center has developed into a space for offices, residential apartments, community and entertainment spaces, and hotels.
In Phase VI, the most recent phase of development, the center’s additions included Premier Apartments and the Zeider American Dream Center. Some of the latest notable tenant additions include Nike, Three-Notch’d Brewing, and DryBar.