Corporate donation boosts fundraising for Virginia Beach property
- December 9, 2011
The Trust for Public Land is more than halfway toward its goal of acquiring and preserving a 122-acre property in Virginia Beach after getting a $500,000 gift from the Dominion Foundation.
The donation is the first substantial gift from the private sector towards the acquisition of Pleasure House Point, a property along the Lynnhaven River that has been a top open-space priority for Virginia Beach for a decade. Pleasure House Point is currently owned by Wells Fargo Bank.
The Chesapeake Bay Foundation and the Trust have partnered with the city to raise funds to meet the $13 million purchase price. Dominion’s donation brings the fundraising total so far to $7 million.
Before Wells Fargo took over ownership of the property last year, developers had planned to build a large waterfront development known as Indigo Dunes. The Trust plans to buy property and sell most of the land to the Virginia Beach Parks and Recreation Department for open space preservation and public access to the Lynnhaven River.
Pleasure House Point, located just west of the Lesner Bridge and south of the Chesapeake Bay, is at the merging of Pleasure House Creek and Crab Creek, overlooking the Lynnhaven Bay.
The Dominion Foundation is the philanthropic arm of Richmond-based Dominion Rsources.