Portsmouth Residents Gain New Business, Housing Options Through Revitalization of Victory

Residents of Portsmouth are closer to reaping the benefits of revitalization as the City enters Phase II of a 500-acre mixed-use development. Within the next year, the community will enjoy new housing options, schools, businesses and shopping areas.

Portsmouth, VA (PRWEB) March 26, 2007 -- Residents of Portsmouth are closer to reaping the benefits of revitalization as the City enters Phase II of a 500-acre mixed-use development. Within the next year, the community will enjoy new housing options, schools, businesses and shopping areas.

"The additions to Victory, along with the ongoing popularity of Bide-A-Wee golf course and Victory Crossing Shopping Center, are predicted to generate over $850 million in private investment and create 2,500 jobs," said Tara Saunders, Deputy Director of the Department of Economic Development. "Our goal is to create a vibrant and popular destination within the Hampton Roads market."

New Port, a new residential community developed by L.M. Sandler and Sons with homes built by Chesapeake Homes will contain over 1,600 single-family homes, townhomes and condos, all built to invoke a traditional neighborhood feel. "The spin off from this successful neighborhood in terms of quality and population growth has allowed for a total transformation of the Victory section of Portsmouth," said Saunders. "In fact, the development of New Port prompted the city to reopen and renovate Victory Elementary School, formally the Highland Biltmore Elementary School to accommodate the projected increase of school-age children."

In addition to Victory Elementary, Tidewater Community College's Portsmouth Campus is expected to open by the beginning of the 2008-2009 school year with a projected enrollment of 16,000 students. Both schools will be located adjacent to Newport and Victory Village, a 135-acre mixed-use park. Construction of office buildings and a retail center within this area will begin Spring 2008. VDOT is in the process of widening Victory Boulevard to accommodate the projected increased traffic. The improvements to the road should be complete this summer.

For more information about Chesapeake Homes, please call (757) 671-8700 or visit http://www.cheshomes.com

Media Contacts: Emily Canaday
Littleton Advertising and Marketing
(919) 865-7269

Tara Saunders
City of Portsmouth
Deputy Director, Department of Economic Development
(757) 393-8804

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