December 19, 2016

2016 Top Stories - Retail

View article from Inside Business

NORFOLK, VA - As 2016 draws to a close, one thing comes to mind regarding retail: In with the new and out with the old.

The former festival marketplace at Waterside, which opened in 1983, is in the midst of its transformation to become the newly revamped Waterside District.

Built by the Cordish Companies, the mixed-use venue will feature music, activities, live entertainment, events and festivals along with a range of regional, national and local culinary options.

The project, which carries a $40 million overhaul and rebranding price tag, is intended to be a destination point for both locals and visitors.

To date, tenants for Waterside District include: Blue Moon Taphouse, Guy Fieri’s Smokehouse and The Fudgery.

Rappahannock Oyster Co., Cogan’s Pizza, Carolina Cupcakery and Starr Hill also will be part of The Market, a 30,000-square-foot, two-level anchor concept within the center of the project.

“The progress made at Waterside District this year has been exceptional,” said David Cordish, chairman and CEO of The Cordish Companies. “With a few months to go until we officially open, we have been honored to announce such a strong group of national and local tenants for the project this past year.

“As we get ready to open in the spring, we remain extremely bullish on the potential growth of downtown Norfolk, especially along the waterfront. We strongly believe that ground-up residential will be a key driver for sustaining the city’s momentum in the future, as well as serve as an anchor for Waterside District.

“A ground-up, brand-new residential tower would be a game changer for the city of Norfolk. We have executed similar strategies in multiple cities across the country with tremendous success and are confident that the outcome in Norfolk will be no different.”

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