In Virginia Beach there are not many condo complexes along the oceanfront on the beach. One of the biggest challenges is financing for developers of the large condo complex structures. There was suppose to be a complex that was part hotel and part condos, but now it is being built as a hotel due to financing issues from what I heard. With my 8 years of experience working with developers I have a little bit of knowledge of the financing on the condo projects and holding costs.
Along the bay in Lynnhaven Shores and part of Chick's Beach you will see a number of condos. There is not a lot of land. Condos were suppose to be built where Duck Inn was, but with the housing downturn that has not happened yet, and I have not heard anything else about the project.
Currently, I have some new construction "No Fee" Duplex condos coming on Norfolk Ave in the 400 Block. One unit is currently sold, but these are 3 and 4 bedroom condos with garages. The website for the new home site is http://www.Beachtowncondos.com. I have some other new construction coming, but everything is 3 bedrooms and more.
There were some loft condos built off Baltic. - Old Beach Village built in 2006.
I sell a lot of properties around the beach, feel free to contact me, if I can be of assistance in your search.
Have a great day!
REALTOR-ABR, GRI, CSP
The Real Estate Group
401 N. Great Neck Rd, Suite 126
Virginia Beach, VA 23454
There is only 1 - 1 bedroom 1 bath for sale near the boardwalk and it's very affordable! Only $119k. But alas, is not new construction. The oceanfront has been developed for a long time. If you can forego the new construction...this one looks really sweet!
Please let us know how we may assist you further!
Gail and Tom Bucker