15th street PIER proposalA VISION FOR AN ICONIC DESTINATION

ATLANTIC AVENUE

STREET VIEW, LOOKING SOUTH

MOCA expansion

VIBE DISTRICT

19TH STREET

STREET VIEW, LOOKING EAST

AERIAL VIEW, LOOKING EAST

PACIFIC AVENUE

STREET VIEW, LOOKING SOUTH

AERIAL VIEW, LOOKING SOUTH

the site

Why this location?

- Older properties, vacant land, and a 65-year old pier.

- Adjacent to Oceanfront Terminus of 17th/19th St. S.G.A. Redevelopment Project.

- Compliments future development of Dome Site.

- Supports Arena Development.

- Land Availability & Motivated Property Owners & Investors.

- Redevelop the South End of the Beach.

CENTRAL BEACH DISTRICT DEVELOPMENT PROJECTS

THE EXISTING PIER

HOTEL & RESORTTHE COMPONENTSPIERPARK RESTAURANTS & RETAIL ENTERTAINMENT

Neptune Park, Virginia Beach

High Line, NYC

Waterfront Commons,West Palm Beach, FL

Benidorm West Beach Promenade, Spain

PARK

GATHER.

Benidorm West Beach Promenade, Spain High Line, NYC

INTERACT.PARK

Jenette’s Pier, Nags HeadPIER

enjoy.

Santa Monica PierPIER

experience.

RESTAURANTS & RETAILLegal Harborside, Boston C Level Lounge, San Diego, CA

George’s at the Cove, La Jolla, CAGarrett Popcorn, Singapore

dine.

Deal Pier, UK

RESTAURANTS & RETAILHilton, Beverly Hills Pier 15, NYC Pier 39, San Francisco, CA

shop.

ENTERTAINMENTMiners Landing, Seattle

The Capital Wheel at National Harbor Great Wheel, Seattle

play.

ENTERTAINMENTHalf Moone Cruise Terminal, Norfolk Catch 31, Virginia Beach

Surf Craft Exhibit, San Diego

CELEBRATE.

New World Center, Miami Beach

HOTEL & RESORT

Oceanaire, Virginia Beach

Sky Bar, Virginia BeachView from Hilton, Virginia Beach Hilton, Virginia Beach

Oceanaire, Virginia Beach

RELAX.

HOTEL & RESORTHilton, Virginia Beach

Crescent Resort, Miami

Hilton Garden Inn, Virginia Beach

Hilton, Virginia Beach

Ocean Beach Club, Virginia Beach

Ocean Beach Club, Virginia Beach

getaway.

our PROPOSALHOTEL & RESORTPIERPARK RESTAURANTS & RETAIL ENTERTAINMENT

PARKINGGreen Square Garage, Raleigh

DEVELOPMENT CONSORTIUM

The Lachman FamilyElkan Lachman Sr. started the idea for the Pier in 1948. He purchased the land in 1949 and then sought investors to build the Pier. They received a grant from the city in 1950, and built the Pier in 1950 with two other families (investors) the Murdens and the Bonneys. The three generations of Lachmans have businesses on the Pier today, and they own an interest in the Lynnhaven Fishing Pier on the Chesapeake Bay.

The Murden FamilyMurden was one of the three original Pier owners, and they too are in their third generation of ownership of the Pier. The Murdens have been in Virginia Beach for more than 100 years, and they own many significant parcels of land at the oceanfront. Brian Murden also owns Beach Gallery on 31st Street.

The Sibony FamilyThe Sibony family has lived and worked in Virginia Beach since 1990. They are one of a very few families that own an entire block at the oceanfront between 14th and 15th Streets and Atlantic and Pacific Avenues. They also own Coastal Edge Surf Shops in addition to Sunsations stores in Virginia Beach, North Carolina and Maryland. They also own the Hampton Inn on the oceanfront on 11th Street.

The Capps FamilyJimmy Capps and his family are fourth-generation hotel operators. His grandparents rented beach cabins in the 1940s and 50s. His parents joined that business and purchased the Essex House Motel in 1962. That motel was replaced by the Breakers Hotel at 16th and Atlantic Avenue in 1984. The business continues to be operated by Jimmy, his wife Clara and their family.

The Bonney FamilyAl Bonney Sr. was one of the three original Pier owners and an active beach attorney and a member of the Virginia Beach Town Council. The three generations of Bonneys are still owners of the Pier today. The Bonneys also own County View Trailer Park in Virginia Beach and the Hatteras Harbor Marina in North Carolina.

The Thompson FamilyBruce Thompson has been a resident of Virginia Beach for more than 50 years. His company, Gold Key | PHR Hotels & Resorts, has invested over $750 million in resort revitalization development consisting of new hotels, vacation ownership resorts, restaurants, office buildings, and apartments.

A National Vacation Ownership Developer

The Development Consortium Includes:

ELEMENTS OF THE DEAL

A. The joint venture (JV) and investors to acquire the Oceanfront property, Old Pier (and improvements thereon) and Pier Franchise from the Murden, Lachman and Bonney Families.

B. To develop a new 880 foot concrete pier immediately north of the existing pier and demolish the existing pier.

C. To purchase the Parking Garage Parcel currently owned by Sunsations Realty, LLC on which the 800 to 1,000 space Parking Garage will be constructed for the private development and develop 68,428 SF of Retail/Office and Restaurant Space.

D. To form a joint venture with the Capps family to construct a new hotel with between 150-200 rooms on the property currently occupied by the Breakers Hotel.

E. To develop a Vacation Ownership / Hotel Resort for ultimate ownership and operation by a national vacation ownership hotel company and their private equity partners.

F. To integrate the construction of the 15th Street Commercial Building to the master plan for the project.

PROPOSED DEVELOPMENT SITE

Capps Family

Lachman, Murden & Bonney Families

Sibony Family

$245 MILLION MIXED-USE DEVELOPMENT

- LODGING

- RESTAURANTS

- RETAIL

- NEW 880 FOOT CONCRETE PIER

- 800 - 1000 SPACE PARKING FACILITY

- OCEANFRONT PARK/PLAZA

Note: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

- SCENIC PIER OVERLOOK

- SKYWHEEL

- RESTAURANTS

- RETAIL

- FISHING

- POTENTIAL SURFING HALL OF FAME

- EXHIBITION & MEETING SPACE

- OCEANFRONT PARK/PLAZA

ENTERTAINMENTNote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

330 Unit Vacation Ownership /Hotel Resort to be Operated by Publicly Traded, National Vacation Ownership Company.

LODGING - REsortNote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

LODGING - HOTELNote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

New Minimum of 150 - 200 Rooms & Suites Full Service National Franchise Hotel.

Meeting & Conference Space

Food & Beverage Outlet

Indoor & Outdoor Pools

PIER RETAIL & RESTAURANTSNote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

A Collection of Seaside Restaurants and Retail Shops.

PIER PARK/PLAZANote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

Between 10,000 - 20,000 SF Public Park/Plaza that aligns 15th Street and Pier Creating a Gateway to the New Pier.

NEW 15TH ST. PARK VIEWSHEDNote: These illustrations are for massing purposes only and not intended to demonstrate final architectural design.

Public Park that aligns 15th Street and PierCreating a New Oceanfront Public Park/Plaza.