New arena in Virginia Beach?

VIRGINIA BEACH, Va. (WAVY) - The company Drakkar of America will go before the Virginia Beach City Council to tell them they want to build a $350 million, 22,000 seat indoor arena one block away from the Virginia Beach Convention Center.

The arena has been designed by Populous which has been involved with the building of more than a thousand stadiums world wide, including the New Yankee Stadium.

The business plan is drawn up after the Sprint Center in Kansas City which does not have a professional sports team, but hosts major concerts year round, as well as NCAA regional basketball events, and Arena Football.

Drakkar officials say they have over $400 million worth of financing available, and will not ask the City for any land or cash, but may ask that some tax revenue be kicked back to the project after the arena is up and running.

These special districts are already in place in Sandbridge, and at Lynnhaven Mall and Town Center.