'A New Downtown'

Multifam

Chesapeake, Va., looks forward to an economic boost from the new development of downtown residences and a high-rise office tower.

Summit Pointe Realty LLC plans for the continued development of Summit Pointe, the newest, largest and tallest urban lifestyle community in Chesapeake, Va. Representing a projected investment of more than $300 million of development in multiple phases, this first phase will emphasize urban living, workplace solutions, entertainment and shopping options.

The high-rise office tower under construction at Summit Pointe will be the world headquarters for Dollar Tree Inc., comprising 510,000 square feet of state-of-the-art workspace. Scheduled for completion in summer 2018, this will be the tallest office tower in Chesapeake, visible from Interstate 64. The adjacent parking deck with public parking contains 1,500 spaces.

Uniquely designed workplaces and residences over ground floor shops and restaurants will frame the tree-lined Belaire Avenue, a gathering place for new entertainment and dining options in the region. Outdoor musical events, festivals and other functions will enliven the urban experience in the piazza in the heart of Summit Pointe.

"The Summit Pointe experience will offer workers, residents and visitors a dynamic social environment unmatched in the region,” stated Rick West, Mayor of Chesapeake, Virginia. “Upscale offices and residences, cafes, a boutique hotel choice and unique retailers will blend together to create the Summit Pointe experience. This is the beginning of a new downtown in Greenbrier for Chesapeake."

New development will include upscale residential communities with numerous lifestyle amenities containing at least 600 units. It also will have more than 100,000 square feet of new retail and restaurant spaces, at least 100,000 square feet of traditional and modern workspaces, and a boutique hotel.

"Great companies are attracted to great places,” stated Bob Sasser, Dollar Tree's executive chairman. “We are building a dynamic campus environment at Summit Pointe. This project will enable our company, the city of Chesapeake, and the entire Hampton Roads region to attract top-tier talent and grow the workforce and business landscape of the future."

Summit Pointe is presently zoned to develop 1 million square feet of office space, more than 1,400 residences, up to 500,000 square feet of retail space, and 250,000 square feet of hospitality and conference space. 

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