W. M. Jordan Development Company officially broke ground today on construction for Building One @ Tech Center, an 80,000-square-foot building, the first of many in the 50-acre research park located at the intersection of Jefferson Avenue and Oyster Point Road in Newport News.
Developers and dignitaries were on hand to make several tenant announcements as part of the ceremony. Building One, developed by W. M. Jordan, is an 80,000 square-foot facility, the first of many planned for the 50-acre Tech Center Research Park.
“The addition of this facility offers a great complement to the breadth and depth of office and research inventory, and further expands the footprint of the Peninsula’s Central Business District,” said Florence G. Kingston, Director of Newport News Department of Development. “With easy access to housing, stores, healthcare, restaurants and entertainment, Tech Center is in an ideal environment to attract young professionals. The project will also help to diversify the local and regional economy by reducing our reliance on military and governmental operations.”
The Tech Center project is a 100-acre, $450 million mixed-use development, estimated to create more than 5,500 jobs. The development includes Tech Center Research Park with nearly one million square feet of office and laboratory space on 50 acres; 288 residential units at Venture Apartments; and Marketplace at Tech Center, anchored by Whole Foods, with more than 250,000 square feet of retail space.