A developer that has built more than $300 million in projectsthroughout Virginia is seeking a deal to gain options on several downtown parcels in Hampton, the city said Tuesday.
The WVS Cos., based in Richmond, and Virginia Beach-based Saunders+Crouse Architects, submitted an unsolicited proposal for a six-month purchase and development option on publicly held real estate. Some of those parcels are on the waterfront, said Robin McCormick, the marketing director for Hampton. "Until the deal is worked out, we don't know exactly what parcels it will be. It will be some selection of those most ready for development."
According to the city, the six-month period allows the developer to conduct studies to identify market potential for residential and commercial development downtown. The proposal includes property held by the Economic Development Authority (EDA), the Hampton Housing and Redevelopment Authority and the city.
