The Beginning of a New World is Rising on the Peninsula

Commercial Real Estate on the Virginia Peninsula is rising to new heights. New developments are popping up all over. The enhanced “Quality of Life” on the Peninsula is reaping rewards with new business arrivals. Job opportunities are more abundant with the Peninsula Workforce Development Center assisting local agencies . Expansions of existing landmarks such as Christopher Newport University; Riverside Regional Health Care; Mary Immaculate Hospital; and Sentara’s Health Care facilities are becoming a reality. A 22.6 million expansion is planned for the Virginia Living Museum; the City Center of Oyster Point in Newport News has multi commercial/retail/ residential plans; the 470 acre allocation for Hampton Roads Center Business Park in Hampton; James City County’s 13.5 million square feet of of existing commercial space; Poquoson’s Quality of Life and Sensible Business Growth campaign; and Williamsburg’s Transportation Center and retail opportunities. In addition, York County is considering extending infrastructure through a public/private partnership to a 250-acre tract with immediate interstate access.

All of these highlights and much, much more are making the Virginia Peninsula one of the fastest growing Commercial Real Estate markets on the East Coast.

Newport News Highlights

There are some exciting, new office leasing opportunities in Newport News. The Symantec Building has opened at Jefferson

City Center Fountain Plaza

Center for Research and Technology with 30,000 square feet available on the ground floor. Ferguson Enterprises’ new five-story headquarters building on Jefferson Avenue near the Newport News-Williamsburg International Airport has 75,000 square feet of new class-A office space for lease. Both companies expect to eventually expand into the extra space in their buildings, so these buildings provide unique opportunities for companies that need short-term space.

City Center at Oyster Point and Port Warwick offer opportunities for companies to be part of the new urbanism environment that is blossoming in the center of Newport News. Fountain Plaza III is the newest of three class-A office buildings set around a magnificent 5-acre water plaza and fountains that are the central feature of an urban park. This 80,000 square foot building is expected to be under construction in 2003. It will be served by the adjoining parking garage, which is owned by the

Newport News Economic Development Authority.

Sites are available at Port Warwick for smaller office buildings, integrated into this dynamic new neighborhood, as well as for unique work-and-live units that provide professionals and entrepreneurs the opportunity to truly have a zero commute from home to office. Visit the websites, oysterpointonline.com and portwarwick.com to learn more about these exciting projects. Also, visit newportnewsva.com and go to the “Sites and Buildings” section for information on other office space available in Newport News.

Virginia Living Museum

$22.6 million expansion

A 62,000 square foot building featuring lots of glass and open areas and designed to take advantage of the property’s natural bowl- shape. .The museum has begun construction in phases. The new Coastal Plain Aviary and 800 feet of the boardwalk across the lake opened July 28, 2001. The entire boardwalk loop around the lake was completed in October 2001. Clearing began in November 2001 for new parking lots and entrance road.

The new boardwalk trail and animal habitats opened in April 2002. Groundbreaking for the building was April 10,2002. Topping out with the last major piece of structural steel was October 11, 2002.

Opening of the new building is planned for spring 2004. The museum will continue to be open and provide visitors with much of their current experience during construction. Additional funds will have to be raised before the new planetarium (140 seats, double the size of the current planetarium) is built. Last on the project list is renovating the current museum building for an education support center.

Christopher Newport University

With nearly a quarter of a billion dollars of new construction, Christopher Newport University has a master plan that is transforming not only the university, but also the Peninsula community.

Over the past seven years, construction spending has soared to $113 million in new projects, and over the next three years, the university will spend an additional $114 million. From this will come a world-class center for the arts; additional residential complexes; a modern student center; enhanced academic buildings; a 21st century library and information technology center; commercial development; and student athletic venues.

Center for the Arts

Phase I of the highly anticipated, I.M. Pei designed, Center for the Arts is well underway. Included in this first phase of construction are the 500-seat theater and the 200seat Black Box Theater and space for classrooms and studios. The facility will include a 10,800 squarefoot lobby, concessions, box office, restrooms and food service facility, and will embrace a magnificent outdoor amphitheater. Supporting both theaters will be dressing rooms, a lighting shop and lab, scene shop and storage area, rehearsal rooms, prop shop, a dance studio, costume shop and storage area, a green room, loading dock and laundry room. During the second phase of the

$51 million project, construction will begin on the 1,700-seat Performance Hall.

Residence Halls

Supporting a booming residential population, CNU completed construction of York River Hall and the CNU Apartments in August 2002 for a combined total of $39 million. York River Hall is home to 538 new freshmen. Across Warwick Boulevard, the CNU Apartments provide 355 upperclassmen the opportunity to experience the independence and convenience of apartment living along with the advantages of living on campus. In two years, the residential population will grow to 3,000 (from just 220 in 1994) creating demand for additional residence halls.

Student Center and Academic Space

For a combined cost of $41 million, CNU’s master plan calls for a 116,000 square-foot Student Center; the expansion and renovation of the existing library into an Information Technology Center, doubling the size of the existing library; and an addition and renovation to Gosnold Hall, a classroom and laboratory building.

Commercial Development

The CNU Educational Foundation is actively engaged in a multi-million dollar community development plan. Through an investment of $16 million to acquire many of the blighted properties surrounding the campus , the university has begun an effort to create new retail opportunities to support the campus and surrounding community.

Student Athletic Venues

The final phase of construction on the 3,200-seat Pomoco Stadium which hosts football and track will be completed in 2003. The plan calls for a red brick exterior, press box, concession area, restrooms, elevator tower and reception room.

Anyone returning to the campus of Christopher Newport University might have to stop and look twice. The university is a far different place than it wa s when it opened in 1964 as Christopher Newport College, a two-year branch of the College of William and Mary. Over the last six years, CNU’s freshman applications have exploded by 335%, the size of the freshmen class has doubled to almost 1200, and the average SAT score has jumped 162 points. CNU has rapidly become a leading liberal arts institution that serves students from throughout Virginia.

Mary Immaculate Hospital

High touch meets high tech in September 2003 when the hospital opens its 42,000 square foot Surgical Pavilion. The Pavilion will be a technologically advanced surgical pavilion equipped with “Digital Operating Rooms.” The “Digital Operating Room” will be equipped with a HERMES Control Center that enables surgeons to use voice activation to control surgical equipment such as cameras, lights, tables, etc. The OR will also include an Image Management System that provides high quality, digital images in real-time.

Mary Immaculate Hospital

Hampton Highlights

Hampton Roads Center North Campus (Business Park)

Blending interstate access with scenic beauty, Hampton’s business parks offer diverse locations from golf course settings to park like environments . Add enterprise and technology zone incentives to this strategic location and companies will find the formula for success. Hampton Roads Center (HRC) North Campus, the city’s premiere commercial real estate property, represents Hampton’s last major greenfield development opportunity. Located approximately one mile from Interstate 64 and adjacent to Hampton Roads Center Parkway, the 470-acre business park is ideal for the office and light manufacturing industry segments development. In addition to office and light manufacturing uses, the marketing efforts regarding