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Virginia Beach Arena Talks Resuming

New Virginia Beach Arena

A proposal for a new Virginia Beach arena is back in the works, as the city council has granted United States Management (USM) more time to finalize a funding plan. 

In October, USM delivered a funding plan that was rejected by the Virginia Beach City Council. The council had multiple issues with the proposal, including a provision that would allowed the plan to move forward with unrated bonds.

Even after that vote, USM expressed an interest in trying to renew talks, a sentinment that was shared by some Virginia Beach officials. On Tuesday, USM had its request for a 60-day extension to secure funding approved by the council on a 9-1 vote. More from The Hampton Roads Business Journal:

“We will be bringing an arena to Hampton Roads,” U.S. Management President and CEO Andrea Kilmer said in the hallway immediately after the vote.

Councilwoman Barbara Henley, who said before the vote she is concerned about the “enormous amount of parking” that would be needed for the arena, cast the lone dissenting vote. Councilman Jim Wood was absent.

Kilmer, a Virginia Beach native, has been working to bring an arena to her hometown for more than three years. However, Kilmer has indicated if an agreeable solution is not found in Virginia Beach, the arena could end up in another Hampton Roads city.

She said Tuesday USM is in negotiations with a “domestic” potential investor but would not reveal its identity.

If constructed, the Virginia Beach arena will be utilized for concerts and other large-scale indoor events. The posibility of attracting a sports franchise has not been ruled out.

RELATED STORIES: Virginia Beach Arena Talks Could ResumeCouncil Votes Against Virginia Beach ArenaMajor Vote Set for Virginia Beach ArenaVirginia Beach Still Considering Arena FundingVirginia Beach Confident in Arena Funding ModelSuites Already on Sale for New Virginia Beach ArenaVirginia Beach Approves Arena Funding Deal; New Virginia Beach Arena Funding Plan Emerges; Status Update on New Virginia Beach Arena on Tap

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