The Town Center at Virginia Beach, an urban mixed-use development, has been approved and is now under development in the CBD of Virginia Beach, Va. Chesapeake, Va.-based Armada/Hoffler is developing the 25-acre project "Main Street" project. Completion of the project's first phase is scheduled for completion in the spring of 2002.

Upon completion, the mixed-use facility will encompass 12 city blocks and will be composed of 750,000 sq. ft. of retail, a 5,000-stadium seat multi-screen theater, 77,500 sq. ft. of restaurants and 800,000 sq. ft. of Class-A office space. The Town Center will also feature banking, two hotels and more than 300 upscale residential units and four multi-level parking garages.

Future tenants include Barnes & Noble, Planet Music, Bed Bath & Beyond, Best Buy, Circuit City, Sears and Dillard's.