VIRGINIA BEACH, Va. -- A real estate developer is looking to buy and renovate the Virginia housing community where singer Pharrell Williams lived as a child.
Atlantis Preservation LP, an entity of the New York-based company Fairstead, has its eyes on the Atlantis Apartments complex.
The Virginia Beach Development Authority on Tuesday approved up to $39 million in bond sales which will in turn fund a government-backed loan for the affordable housing project.
The complex is currently owned by a real estate firm based in New Jersey.
The Virginian-Pilot reports the sale is expected to close in the spring. The city council votes on the project next month.
