VIRGINIA BEACH, Va. — The Pembroke Realty Group announced a new and improved name and strategic plan for the former Pembroke Mall property on Wednesday.
The area will now be formally named Pembroke Square, and it will focus on bringing "vibrant residential, shopping and dining offerings," according to a news release.
Many of the stores in the former space remained open until January of this year.
“As we bring a new future to Pembroke, we look forward to offering unique experiences and lifelong memories for people of all ages," said Fred Napolitano Sr., one of the original owners of Pembroke Mall and the Pembroke Square development.
Developers with Pembroke Realty Group envision Pembroke Square as a new gathering place in Virginia Beach.
“We also figured that if you’re going to live here, most people wouldn’t identify with living at the mall,” said Ramsay Smith, the president of Pembroke Realty Group.
Mall developers unveiled its new name Wednesday morning. Smith hopes it will bring a new image to the site in Town Center.
“We picked Pembroke Square because of the old town square," Smith said. "I mean this is the center of really Virginia Beach for a long time, it was.”
Pembroke Square will soon host a new hotel, luxury apartments, and a senior living facility -- a $200 million project.
Since closing the interior of the building, developers have experienced some roadblocks.
“Scheduling is still an issue, pricing is still an issue," he said. "Labor is still an issue…All of those things we’re overcoming.”
Smith said it won’t stop from reaching its project finishing date set for 2025. He hopes for the next few years, many in Virginia Beach will follow this project along.
“We really want them to think right now, we still have a bunch of stores open," he said." We still want everybody to come, enjoy what we have to offer, and watch the transition.”
"Young professionals, active seniors, families, vacationers, and business leaders all will find something to love and experience at Pembroke Square.”
The 54 acres of property will be converted into a shopping center, restaurant spaces, a full-service hotel, a senior living facility, and luxury apartments.
Current tenants on the property, like the Target and The Fresh Market, will remain open throughout this time.
One of the planned developments will open before 2025.
The senior living facility, Aviva Pembroke, will open in 2024. It will have 121 independent living apartments, 20 assisted living apartments, and 12 memory support units.
In the summer of 2025, the hotel Tempo/Homewood Suites by Hilton will open, with sleek accommodations like a restaurant, meeting space, and rooftop bar for visitors.
Later that year in the fall, the apartment complex will open and feature 322 one, two, and three-bedroom apartment units and five-star amenities.
“Our family founders continue to live out our long-term commitment to Virginia Beach and to reinvest in our economy,” Napolitano said.
“Enriching our community has remained a focus of our mission for three generations, and through this exciting redevelopment project, we look forward to serving our neighbors with memorable experiences and entertainment for years to come.”