News Summary
The Virginia Beach Arena Project is holding a town hall meeting to reveal plans for a new 20,000-seat arena aimed at boosting local entertainment and economy. Business owner Coleman Ferguson is leading the project, which will be funded through private investments and community engagement. Attendees will learn about the potential economic benefits, including job creation and tourism growth. An open Q&A session will follow the presentation to encourage community feedback, showcasing Ferguson’s commitment to making the arena a valuable asset for Virginia Beach residents.
Virginia Beach – The Virginia Beach Arena Project will be hosting a town hall meeting on Tuesday evening to unveil plans for a proposed 20,000-seat arena. The event aims to showcase how the arena will attract major artists and performances, enhancing the local entertainment landscape.
Business owner Coleman Ferguson is spearheading the initiative, which is expected to be financed entirely through private funding and community investment. During the town hall, the presentation will cater to Virginia Beach residents, businesses, and community leaders and will outline the anticipated economic impact of the arena, including job creation and growth in tourism.
After the presentation, an open Q&A session will provide attendees with the opportunity to engage, ask questions, and offer feedback on the project. Ferguson plans to leverage the meeting to demonstrate how the arena can become a valuable asset to the community.
Rendering visuals of the proposed arena have already been released, though specific details regarding the location and naming rights are still in the works. Ferguson is committed to creating a venue that the residents of Virginia Beach can feel proud of and consider their own.
Event Details
The town hall meeting is scheduled for 6 p.m. on Tuesday at Gala 417, located at 2105 W. Great Neck Rd. This gathering is being positioned as a significant opportunity for community involvement in local development.
Funding and Financial Goals
The endeavor is expected to cost between $300 million and $700 million, with Ferguson intending to crowdfund the initial investment by offering shares to local residents, aiming to raise $80 million. The move towards a privately funded model aims to garner greater community interest and support, particularly following previous unsuccessful attempts to secure funding for an arena via public means.
Sports and Entertainment Landscape
Virginia Beach currently stands out as one of the largest metropolitan areas in the United States without a major league sports team. Ferguson’s motivation for spearheading the arena project stems from his personal experience of the limited options available nearby for hosting significant events and performances. The proposed arena is expected to alleviate this gap by providing a venue suitable for major concerts and sports competitions.
Ferguson has already initiated discussions with two different NBA teams about possible relocation opportunities as well as communicating with the San Jose Sharks of the NHL regarding their existing lease situation. These contacts demonstrate the potential for the arena to become a home for professional sports.
Community Engagement
The Virginia Beach Arena Project has sparked a notable interest within the community, as evidenced by the launch of Ferguson’s dedicated website, which reportedly received nearly 5,000 site visits in just one day. This high level of engagement indicates strong public interest in the project and the potential benefits it could bring to Virginia Beach.
In summary, the upcoming town hall meeting serves as an important platform for discussing the Virginia Beach Arena Project and its implications for the local community. With a focus on private funding, community involvement, and an emphasis on job creation and tourism growth, the initiative could pave the way for a new era of entertainment and sports within Virginia Beach.
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Additional Resources
- WTKR: Virginia Beach Arena Project to Hold Town Hall
- Wikipedia: Virginia Beach
- Virginia Mercury: Bringing an Arena to Virginia Beach
- Google Search: Virginia Beach Arena
- 13 News Now: Virginia Beach Arena Project
- Encyclopedia Britannica: Virginia Beach
- Daily Progress: Virginia Beach Arena Business Update
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VIRGINIA BEACH STAFF WRITER The VIRGINIA BEACH STAFF WRITER represents the seasoned team at HEREVirginiaBeach.com, your trusted source for actionable local news and information in Virginia Beach, Virginia Beach City, and beyond, delivering "news you can use" with comprehensive coverage of product reviews for personal and business needs, local business directories, politics, real estate trends, neighborhood insights, and state news impacting the region—supported by years of expert reporting and strong community input, including local press releases and business updates, while offering top reporting on high-profile events like the Virginia Beach Neptune Festival, East Coast Surfing Championship, and military homecoming celebrations, alongside key organizations such as the Virginia Aquarium, Virginia Beach Convention Center, and Oceana Naval Air Station, plus leading businesses in tourism and defense like Busch Gardens and Northrop Grumman, and as part of the broader HERE network including HEREWilliamsburg.com, providing credible, in-depth insights into Virginia's vibrant landscape. HERE Virginia Beach HERE Williamsburg
