{"id":1004091674,"date":"2014-02-22T15:22:00","date_gmt":"2014-02-22T23:22:00","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=241390"},"modified":"2020-05-18T10:43:19","modified_gmt":"2020-05-18T18:43:19","slug":"usm-unveils-200m-arena-plan-for-virginia-beach","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/usm-unveils-200m-arena-plan-for-virginia-beach\/","title":{"rendered":"USM Unveils $200M Arena Plan for Virginia Beach"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/arena-19thst-elevated.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-241393\" title=\"arena-19thst-elevated\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/arena-19thst-elevated.jpg\" alt=\"\" width=\"300\" height=\"173\" \/><\/a>Virginia Beach now has competing proposals to consider for an 18,000-seat sports and entertainment arena. On Feb. 17, a team led by United States Management submitted a plan to build a $200 million venue by 2016.<\/p>\n<p style=\"text-align: justify;\">Its plan follows one for an 18,000-seat venue submitted last November by W.M Jordan Co. of Newport News.<\/p>\n<p style=\"text-align: justify;\">United States Management, part of Virginia Beach-based ESG Companies, wants to develop the facility across 19th Street from the Virginia Beach Convention Center. The facility would feature suites, premium seating, LED-screen scoreboards and ribbon boards.<\/p>\n<p style=\"text-align: justify;\">The design\/build team includes AECOM Architects of Kansas City, Mo., Norfolk\u2019s Clark Nexsen Architects, Minneapolis-based Mortenson Construction, SB Ballard Construction Company of Virginia Beach, and West Conshohocken, Pa.-based SMG.<\/p>\n<p style=\"text-align: justify;\"> The city of Virginia Beach would contribute land, parking spaces, offsite improvements, and related city services. USM is proposing to earmark 1% of the city&#8217;s hotel tax revenues to finance public infrastructure improvements. However, USM&#8217;s plan calls for construction to be financed privately. The city would not need to issue bonds or raise taxes on residents, according to USM.<\/p>\n<p style=\"text-align: justify;\">In a statement, USM said that construction private financing will be provided by what it described as &#8220;banking interests in China.&#8221; The developers cited ties to those capital sources through China Machinery Engineering Corp. That Beijing-based company will provide construction management, help procure materials, and oversee the design\/build team together with USM.<\/p>\n<p style=\"text-align: justify;\">&#8220;At the request of the state, we spoke with CMEC about several potential projects in our area and mutually agreed that the arena would be the most viable and a good fit for our two firms,&#8221; said ESG Companies&#8217; chief financial officer, Andrea Kilmer, in a statement. &#8220;We believe Virginia Beach and the Hampton Roads region are ready for a world-class arena,&#8221; she added.<\/p>\n<p style=\"text-align: justify;\"><em>Photo credit: <\/em><em><a href=\"https:\/\/www.esgco.com\/\" rel=\"nofollow\" >The ESG Companies<\/a> <\/em><\/p>\n<p style=\"text-align: justify;\">\n","protected":false},"excerpt":{"rendered":"<p>By the end of 2016, Virginia Beach could be home to a new, 18,000-seat multi-purpose entertainment and sports arena, able to host major concerts, sports tournaments, circuses, ice shows, monster truck rallies and many other events. But that&rsquo;s only if the city accepts a conceptual proposal submitted on Monday, February 17, by a consortium of companies.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[3457,3452],"class_list":["post-1004091674","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads","tag-hampton-roads","tag-richmond"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>USM Unveils $200M Arena Plan for Virginia Beach - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/usm-unveils-200m-arena-plan-for-virginia-beach\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"USM Unveils $200M Arena Plan for Virginia Beach\" \/>\n<meta property=\"og:description\" content=\"By the end of 2016, Virginia Beach could be home to a new, 18,000-seat multi-purpose entertainment and sports arena, able to host major concerts, sports tournaments, circuses, ice shows, monster truck rallies and many other events. But that&rsquo;s only if the city accepts a conceptual proposal submitted on Monday, February 17, by a consortium of companies.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/usm-unveils-200m-arena-plan-for-virginia-beach\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-02-22T23:22:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-18T18:43:19+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/02\/arena-19thst-elevated.jpg\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"USM Unveils $200M Arena Plan for Virginia Beach\",\"datePublished\":\"2014-02-22T23:22:00+00:00\",\"dateModified\":\"2020-05-18T18:43:19+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/\"},\"wordCount\":314,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2014\\\/02\\\/arena-19thst-elevated.jpg\",\"keywords\":[\"Hampton Roads (No longer used)\",\"Richmond\"],\"articleSection\":[\"Richmond\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/usm-unveils-200m-arena-plan-for-virginia-beach\\\/\",\"name\":\"USM Unveils $200M Arena Plan for Virginia Beach - 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