Plans are under way for a new biomedical park in Virginia Beach
Preliminary plans are underway for a new bio-medical and health care park in the Princess Anne Commons corridor of Virginia Beach.
According to the Urban Land Institute (ULI) in Hampton Roads, the city of Virginia Beach has offered up to 1,500 acres for the park.
Last week, Thomas Frantz, CEO and president of Williams Mullen and chair of a new Bio Task Force working on the project, met with dozens of ULI members and area business leaders to discuss the preliminary planning for the project.
THe ULI said in a press release that phase one would begin with the construction of a Princess Anne Corporate Park North and South on about 155 acres. The area already has a cluster of bio-medical companies.
Financing would come through a public-private partnership approach, and an organization could be formed to manage the project. An external consultant is assisting the Task Force in its efforts as they develop the concept and report to Virginia Beach Mayor Williams Sessoms.