Development in Downtown To Provide
Retail and Luxury Housing

February 9, 2006

Interested in the city's strategy for the development of retail/office space, and apartments and condominiums in Hampton's Downtown area? Here's an overview:

Retail/Office Space

Every Downtown Hampton consultant for the past 20 years has identified the scattering of retail throughout the Downtown as one of its weaknesses.

That's why last June, the Hampton Redevelopment and Housing Authority (HRHA) amended its development agreement with Collins Enterprises, to move 5,000 square feet of retail/office space from the Heritage Apartment project (on Franklin Street and Settlers Landing Road) to the Kings Landing Condominium project (across from Carousel Park on Settlers Landing Road).

City staff, with the support of the Downtown Hampton Development Partnership and Urban Design Associates, recommended that these 5,000 square feet of retail/office space be clustered with the 5,000 square feet of retail/office space in the Kings Landing project, based on best practices for successful commercial tenants.

There will still be a commercial presence in the Heritage apartment project as illustrated in the Downtown Master Plan. The remaining commercial space in the Heritage project will contain the project's fitness center, community room and leasing office to be anchored on the corners of the project on Settlers Landing Road.

Apartments and Condominiums

The housing market study conducted for downtown Hampton in support of the Downtown Master Plan identified a need for luxury rental apartments and for-sale condominiums. Zimmerman/Volk Associates, Inc., the national consultants who conducted the study, reported that there is a growing demand among affluent empty nesters and young professionals for both these types of housing choices.

Condominiums fill these people's need for freedom from maintaining their housing exterior. Upscale apartments go one step further and fill their need for freedom from maintaining both the exterior and interior. According to Zimmerman/Volk there are many affluent one and two-person households that are selling their residences and moving into the type of housing that offer both of these lifestyle choices.

That's why the Heritage luxury apartments in downtown Hampton are being built (rental rates from $1,000 to $1500 a month), and the Kings Landing condominiums across from Carousel Park are expected to break ground this summer.

There are two other luxury condominium projects planned for the downtown. One is on the water on Bridge Street and the other is on Eaton Street.