VIRGINIA BEACH. Va. — The Virginia Beach City Council voted to approve a sports and entertainment arena with a 10-1 vote Tuesday, according to WTKR.
The arena will be located in the Ocean-front-area as sports arena and concert venue. It will seat between 15,000 and 18,000 and cost the developer $200 million. Taxpayers are chipping in $76.5 million.
The arena has gotten the support from the top city leaders and local businesses that are looking for more revenue when the beach goes vacant.
The developer will have about 10 months to secure a loan. That money, according to the arena developer, will come from a Chinese bank.