City of Norfolk makes major investments in Park Place with the redevelopment of two properties

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Posted at 5:36 PM, Jul 02, 2022
and last updated 2022-07-02 17:36:08-04

NORFOLK, Va. – The City of Norfolk has announced two redevelopment projects in Park Place.

Team Norfolk Boxing will have a permanent home in Park Place as the Economic Development Authority has under contract the purchase of the former Rosna Theatre on 35th Street.

The city says this location provides better proximity and accessibility for the youth.

“Today’s announcements highlight our ongoing efforts to strengthen the Park Place neighborhood,” states Norfolk Mayor Kenneth C. Alexander. “We are excited to add a community hub and our boxing program to the 35th Street corridor. In addition, the acquisition of 2707 Granby Street provides an opportunity to add high-quality, affordable housing to the north end of Granby. There is no question that Park Place is experiencing a resurgence thanks to efforts from residents, civic groups, and private corporations. We are happy to complement those efforts and we look forward to making similar strategic investments across the city.”

The future site of Team Norfolk Boxing is the 12,500-square-foot Rosna Theatre, built in the 1930s, and will serve as a community development and historic rehabilitation project. The space allows for the boxing program as well as expansion to a wrestling program while offering private-sector partnerships and events.

The boxing club will feature two regulation rings, training equipment, teaching space, exercise equipment, and a footwork area. In addition to the boxing club, the space now allows for a neighborhood lobby to host Team Norfolk Boxing meetings as well as community meetings and youth programs. Also included, is a new restaurant space with windows to view the boxing club.

The theater purchase price is $712,000 with an additional $2.4 to $3.2 million for renovation costs.

“The 35 Street corridor is one of the most exciting redevelopment areas in the City,” states Jared Chalk, Director of Norfolk’s Department of Economic Development. “Bringing youth and athletics together within the community and in close proximity to additional amenities such as Old Dominion University and the Virginia Zoo is a way to enhance and grow this neighborhood.”

According to Norfolk officials, they have further invested in Park Place with the purchase of the property located at 2707 Granby Street. Three options for redevelopment of this property will go to City Council for consideration and expands upon the Midtown Norfolk Vision Plan for the area between the Virginia Zoo, Church Street and Granby Street. The purchase price for the property is $1.15 million.