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Dome Site developer gets 7th extension
Updated: Wednesday, 19 Dec 2012, 9:58 PM EST
Published : Wednesday, 19 Dec 2012, 9:24 PM EST
VIRGINIA BEACH, Va. (WAVY) - The Virginia Beach Development Authority gave a seventh extension to a Texas developer with big plans to build on the former Dome Site.
Currently, the Oceanfront land between 18th Street and 20th Street is just an empty parking lot.
Developer Michael Jenkins wants has plans to build a "futuristic entertainment megaplex," complete with a Broadway-style theater, an ice skating rink, an indoor amusement park and other attractions.
Jenkins has struggled to raise the $150 million needed for project. Beach Councilman John Uhrin says investors have a renewed interest in the location because of all the attention the sports arena proposal is bringing to the area.
Unlike the previous extension, this one gives Jenkins just one more month to finish raising the money.
Uhrin is optimistic the developer will present a term sheet to city council in early February.
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