VIRGINIA BEACH, Va. (WAVY) — City Council is considering moving forward with a plan that could result in the construction of nearly 660 housing units, a childcare center and the redesign of eight holes at Virginia Beach National Golf Club.
In a presentation Tuesday afternoon, it was revealed the development would be led by the Virginia Beach-based Dragas Companies. They were one of nine groups who responded to the city’s request for proposals last year after the city first floated the possibility of selling the 18-hole course that sits north of municipal center off Princess Anne Road.
Virginia Beach explores selling Virginia Beach National Golf Course
Under the terms that have been negotiated between City Council and economic development staff for months in closed session, Dragas would purchase the roughly 270 acre course for $17.9 million from the city, according to a presentation from Emily Archer, the city’s acting director of economic development.
The city will, in turn, give the $17.9 million back to Dragas, along with $1.8 million from the Virginia Beach Development Authority, to go towards an estimated $38 million golf course redevelopment…