NORFOLK, Va. (WAVY) – Gilbane Development Company has been selected as the master developer for the redevelopment of Norfolk’s Young Terrace and Calvert Square neighborhoods, a project estimated to cost $1 billion.
Norfolk Redevelopment and Housing Authority (NRHA) announced that Gilbane Development Company will lead the effort to transform the aging public housing units into modern mixed-income properties. Both properties are close to 70 years old. They are located in Norfolk’s St. Paul’s Quadrant.
The redevelopment project will impact more than 2,000 residents and involve more than 1,000 homes. Officials are hopeful the new mixed-income properties will foster a safer and more prosperous environment for the community…