MIDTOWN PORTSMOUTH, VA
Portsmouth Department With a fabulous mixed-use development in the works, plus a Walmart
of Economic Development and Harley-Davidson already realizing the potential, there’s no question,
200 High Street, Suite 200
Portsmouth, Virginia 23704-9903 Midtown Portsmouth is ripe for retailers and developers alike.
Toll Free: 800-848-5690
As the name suggests,
Midtown is in the middle of it all.
Located in a rapidly growing metro area of nearly 2 million
residents and with direct access to I-264, Route 17 and Route 58,
the submarket is easily accessible to and from all parts of Portsmouth
Tunnel from and areas of neighboring Norfolk. Midtown offers a variety of
options for housing, shopping and is a hub for medical services.
Future The submarket is eligible for Federal New Market Tax Credits
Mixed-Use offering investors and businesses the opportunity to receive
federal tax credits equal to 39% of their investment for qualify-
ing developments. Much of the area is in a state designated
B LV D Enterprise Zone offering a variety of state and local incentives.
GH Bon Secours Maryview Ripe for retail, Midtown is
ST Medical Center experiencing a flurry of development.
Anchored by one of the nation’s top ranked Harley-Davidson
HIG H ST dealerships and the world’s largest retailer Walmart, Midtown is
24,000 tpd fast becoming recognized Where historic neighborhoods rub elbows
as a significant shopping with contemporary communities.
district. Pharmacy giants While Midtown has a
Walgreens and CVS have variety of well-established
stores in the submarket neighborhoods, new
adding to the mix of communities are under
national retailers. While construction or on the
chains such as IHOP, Burger King and Wendy’s have a pres- drawing board.
ence, the market is hungry for full service restaurants and fast Seaboard Square, the
casual dining options. City’s second HOPE VI
redevelopment initiative approved by the U.S. Department of
Bon Secours Maryview Medical Center, Housing and Urban Development, is coming out of the ground.
the heartbeat of the Midtown submarket. On the site of a former public housing project, this new neigh-
17,000 tpd Future Mixed-Use With 346-acute care beds including a 54-bed behavioral borhood creates a mixed income community of 289 new
25,000 tpd medicine center, the hospital has a growing workforce with over residential units and a 5-acre tract for commercial development.
2,000 physicians, nurses and medical professionals. A
long-term master plan
of expansions and Demographics
enhancements to this 5 min. drive 10 min. drive 15 min. drive
facility, the lifeblood Population 20,783 100,668 255,059
of Midtown, are Households 8,438 41,042 99,221
37,000 tpd Average HHI $47,909 $54,757 $61,576
78,000 tpd underway. Plans include
a 60,000 square foot
expansion, a new grand 1 mile radius 3 mile radius 5 mile radius
lobby and a bed tower. These developments will be incorporated Population 12,214 76,835 223,119
into a proposed 37-acre mixed-use development envisioned to Households 5,106 31,916 86,409
include a hotel, multiple commercial buildings and over 300 Average HHI $42,741 $55,043 $60,323
townhomes and apartments. (Source: 2010 DemographicsNow)