Va. Beach Dreams
Virginia Beach, Va., has reached a tentative agreement to build an arena near the oceanfront capable of accommodating a professional sports team.
The $200 million arena would be paid for by United States Management with private financing.
It would initially have 16,500 seats, but could be expanded to 18,000 seats if an NBA or NHL team moves to the city.
Past efforts to land a pro sports franchise in the Hampton Roads area have faltered, in part, because an arena wasn’t already built. Under the preliminary deal, the city would contribute about $53 million toward infrastructure outside the arena.
That includes parking, a plaza and utilities. The City Council still must approve the terms of the agreement. If approved in December, the arena could open in the fall of 2017.
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