Norfolk city officials approve additional funding for new IKEA

Posted at 10:07 PM, Nov 22, 2016
and last updated 2016-11-22 22:07:51-05

NORFOLK, Va. – Tuesday night Norfolk city leaders approved to invest an extra $500,000 for the new IKEA store set to open.

The City of Norfolk has already agreed to pay $5 million to build the new IKEA store.

According to the city’s development director, the additional money would offset unanticipated development costs.

Those costs include adding a structured parking and the ability to elevate the IKEA property to allow for underground storm water retention.

IKEA will contribute around $75 million.

The new store is supposed to be built on Northampton Blvd., near the new outlet mall that is currently under construction.