P.O. # EDEV-11-0016 REQUESTS FOR INTEREST FOR THE SALE AND DEVELOPMENT OF PROPERTY LOCATED WITHIN THE HISTORIC KEMPSVILLE AREA OVERLAY DISTRICT OF VIRGINIA BEACH, VIRGINIA Notice: The City of Virginia Beach ( City ) requests an expression of interest and certain information from interested parties in the purchase and development of City-owned real estate located within the Historic Kempsville Area Overlay District of Virginia Beach, Virginia. Background: The properties consist of two (2) areas, hereafter referred to as Property A and Property B. Property A (GPINS 1466-68-4727, 1466-68-5708, 1466-68-6303, 1466-68-8458, and 1466-78-1268) consists of a total of approximately 6.50 acres. Property B (GPINS 1466-78-3655, 1466-78-3700, 1466-78-3815, and 1466-78-4905) consists of a total of approximately 2.6 acres. Property A is generally located in the southwest corner of the proposed relocated intersection of Princess Anne and Kempsville Roads. Property B is generally located in the northwest corner of the proposed relocated intersection of Princess Anne and South Witchduck Roads. Property A and Property B are within the Historic Kempsville Area Overlay District, as identified in the Historic Kempsville Area Master Plan, adopted by City Council as part of the City s Comprehensive Plan, on January 24, 2006. The Master Plan is available at http://www.ourfuturevb.com/compplandocs/documents/historickempsvilleplan.pdf. Due to its proximity to Town Center, the Pembroke Strategic Growth Area, the Newtown Strategic Growth Area, a proposed transit corridor, Interstate 264, and the proposed Elizabeth River Greenway, the properties are an important strategic location for the long term growth and success of the revitalization of the Historic Kempsville Area Overlay District as envisioned in the Master Plan. A Market Assessment of the Master Plan and the Historic Kempsville Area Overlay District was completed in December, 2008 and is available in PDF format from the Department of Economic Development by contacting Lloyd Jackson at lbjackso@vbgov.com or (757) 385-6464.
A more complete description of the properties which are subject to this RFI can be found in the Master Plan and the Market Assessment of the Master Plan. Additional information about the Historic Kempsville Area Overlay District is also available from the Department of Planning by contacting Clay Bernick at cbernick@vbgov.com. Objectives: The City s objectives in pursuing redevelopment of the properties are to maximize the long-term development potential of the property in keeping with the vision and intent of the City s Historic Kempsville Area Master Plan; to achieve the construction of mixed use development (residential, office and retail); to provide for connectivity within the Historic Kempsville Area; and to provide for connectivity to the Pembroke Strategic Growth Area, the Newtown Strategic Growth Area, a proposed transit corridor, and the proposed Elizabeth River Greenway. Submittal of Responses: Statements of Interest shall be submitted no later than January 3, 2011 to the City of Virginia Beach Department of Economic Development. All responses should be addressed in writing to City of Virginia Beach Department of Economic Development, 222 Central Park Avenue, Suite 1000, Virginia Beach, VA 23462, Attention: Lloyd Jackson. Contents of Response: Respondents are requested to provide the following information: - Terms of offer to purchase - Proposed use/concept - Financial offer - Estimated time frame for closing - Estimated development time frame - Estimated cost of improvements - Proposed financing mechanisms - Purchasing entity and names of principals Disposition Procedure: City staff (Economic Development, Planning, and Public Works/Real Estate) will solicit and review interests and preliminary submissions for the purchase and private development of the property. A respondent or short list of respondents may have the opportunity to modify submissions and/or may be asked to provide additional details following review by staff. Selection will be based upon
compliance with the stated objectives. Staff may solicit other submissions if deemed necessary. If a submission is selected, terms of the transfer of the property, as well as structure of the overall development plan, will be negotiated and finalized with the respondent. At a minimum the respondent will be expected to obtain an approved site plan for the property within twenty-four (24) months of the date of the award, and provide the City with a financing plan for the proposed development, acceptable to the City, within twenty four (24) months of the award. Sale of the property is subject to review and approval by the Virginia Beach City Council and the Virginia Beach Development Authority (VBDA). The real estate closing shall take place as soon as possible following VBDA and City Council approval.