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8 Crawford Pky - Waterfront Redevelopment RFQ 3.6 Acres of Commercial Land in Portsmouth, VA 23704
Investment Highlights
- Nearly 500 feet of river frontage, with direct views of the Norfolk skyline and high visibility from both land and water.
- Mixed-use vision with flexibility in deal structure and development program.
- Located steps from Olde Towne, the High Street corridor, the Elizabeth River Ferry system, providing direct access to regional amenities & workforce
Executive Summary
The City/EDA seeks an experienced development partner to deliver a mixed-use waterfront destination including residential, hospitality, retail, dining, entertainment, and public open space. The City’s vision and goals for this site, outlined in the attached RFQ, emphasize waterfront activation, placemaking, and integration with the surrounding downtown and Olde Towne Historic District.
The EDA expects to convey the property under a development agreement with property interest conveyed via fee simple transaction or ground lease. Offerors may propose alternative transaction structures they feel are best value for the City, including public-private partnership (P3) or other cost-sharing structures for specific development components such as Harbor Court parking garage replacement. With nearly 500 feet of river frontage, Elizabeth River Ferry access, and views of the downtown Norfolk skyline, this is a rare opportunity to deliver a landmark waterfront project in the Hampton Roads market.
Interested parties should review the additional project background, including a summary of initial stakeholder engagement and the preproposal conference recording, available on the project website: https://www.portsmouthvaecondev.com/developments/crawford-bay.
Property Facts
1 Lot Available
Lot
| Lot Size | 3.60 AC |
| Lot Size | 3.60 AC |
±5.95-acre waterfront site in downtown Portsmouth with ~500 ft of river frontage. Directly adjacent to a marina, Olde Towne & Downtown Portsmouth, and North Landing Elizabeth River Ferry stop, the site provides direct access to greater Hampton Roads
Description
The Economic Development Authority of the City of Portsmouth (EDA) is seeking an experienced development partner to develop a mixed-use development of approximately 6 acres of EDA-owned land overlooking the Elizabeth River near the Olde Towne Historic District in Portsmouth, Virginia (Site). This 6-acre downtown waterfront Site in the growing Hampton Roads region offers nearly 500 feet of Elizabeth River frontage and views of the Norfolk skyline. The site provides immediate access to the Elizabeth River Ferry system, operated by Hampton Roads Transit (HRT). The site consists of multiple parcels under ownership of the Portsmouth Economic Development Authority The site is directly adjacent to the Olde Towne Historic District, and within walking distance of the High Street retail corridor, close to restaurants, shops, cultural assets, and established residential neighborhoods. The City envisions a transformational mixed-use development including residential, hospitality, retail, dining, entertainment, and public open space components. The site is intended to serve as a regional destination and catalyst for continued waterfront revitalization, with strong emphasis on placemaking, walkability, and activation of the public realm. This offering represents a once-in-a-generation opportunity to develop a high-profile waterfront site within a growing coastal market.
Property Taxes
| Parcel Numbers | Improvements Assessment | $1,652,356 CAD | |
| Land Assessment | $5,760,340 CAD | Total Assessment | $7,412,696 CAD |
Property Taxes
Presented by
Charette Agency
8 Crawford Pky - Waterfront Redevelopment RFQ
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