Major project still planned for Monticello Avenue in Norfolk | Real Estate
NORFOLK Plans for the new five- story complex north of downtown, featuring shops and more than 200 apartments, were approved three years ago. Last year, the former headquarters of Hampton Roads Transit was demolished to make way.
But the 2- acre lot remains nothing but a fenced-off patch of dirt. And a few weeks ago, for-sale signs went up near the fences where renderings used to hang. The developer behind the proposed $42 million complex at 1500 Monticello Ave., next door to Chick-fil-A, said the project isn’t dead – merely delayed by financing problems. “We think it’s still a great site and a great opportunity to do something there,” said Michael Haller, the executive vice president of Fairfax- based developer Concord Eastridge . “We love what’s going on with Norfolk. ... We’d love to be a part of it.” By the end of the year, he said, the company hopes to either partner with new investors or find a purchaser to step in and build the “shovel-ready” project. The pr...