Pembroke Mall owners plan major $200 million redevelopment project – Virginian-Pilot

The Virginian-Pilot

Nov 17, 2021 10:46 AM

Developers want to construct 329 multifamily apartments as part of a $200 million redevelopment project at Pembroke Mall in Virginia Beach.

Developers want to construct 329 multifamily apartments as part of a $200 million redevelopment project at Pembroke Mall in Virginia Beach. (Courtesy rendering / HANDOUT)

Military Circle isn’t the only aging Hampton Roads mall with a major redevelopment project in the works.

A new $200 million project will bring a hotel, apartments and senior housing to Pembroke Mall in Virginia Beach, the owners announced Tuesday.

The three projects — including a seven-story, 156-unit senior living community — would transform the 55-year-old mall by moving it away from retail stores and restaurants.

Mall co-founder and co-owner Fred Napolitano Sr. said in the announcement that the improvements would contribute to a greater quality of life with features like green space and easy access to shopping and dining.

“As we begin to redevelop the property, we want to do so in a way that creates energy, community and opportunity for this area and for our city,” Napolitano added.

Developer Pembroke Realty Group first plans to work with Beth Sholom Village in Virginia Beach on a previously announced seven-story senior living complex, located at the corner of Jeanne Street and Constitution Drive in the mall’s northeast parking lot. It will have 124 independent living apartments, 20 assisted living apartments and 12 units for Alzheimer’s and dementia patients.

Ramsay Smith, Pembroke Realty Group president, said in an email developers hope to begin construction on the phase in June or July 2022 and open the complex in early 2024.

Developers also want to convert the former Stein Mart location into a 329-unit multifamily apartment complex, Smith said. They hope to begin construction in the fourth quarter of 2022 and open in late 2024.

Finally, the developers plan to bring a “nationally known, new to the Virginia Beach market, contemporary full-service” hotel to the former SunTrust Bank branch space on Virginia Beach Boulevard next to Macaroni Grill. Smith said developers hope to begin construction in July 2022 and open in early 2024. The announcement did not name the hotel brand.

In the announcement, Smith noted that malls were being challenged by the success of online retailers and the closures of big box retailers. Sears left the mall in 2018, and its anchor location now houses a product software company’s offices.

Smith said the redevelopment is a direct response to retail’s challenges by mixing existing tenants with housing and future event spaces.

“We have significant opportunities to recreate Pembroke Mall and transform it into a lifestyle destination — where our community can live, work, dine, shop and play — all in one vibrant central location,” Smith added.

Pembroke still has more than 60 shops and restaurants, according to its website, including Target, Old Navy, Kohl’s, The Fresh Market and REI.