A quick look at business happenings involving Coastal Virginia
Compiled by Butch Maier
ECONOMIC DEVELOPMENT
Partnership
The Hampton Roads Small Business Development Center and Portsmouth Partnership announced a new strategic collaboration aimed at accelerating economic development through the growth and expansion of small businesses. As part of this initiative, the organizations welcomed Stockpot Restaurant owner Amber Kostka as business adviser. hrsbdc.org, portsmouthpartnership.org
EDUCATION
Accreditation
The Joint School of Public Health at Old Dominion University and Norfolk State University has earned accreditation from the Council on Education for Public Health. The council’s decision to accredit the Joint School of Public Health is retroactive to Jan. 9, 2023—the date the council approved the initial application request to become an accredited school of public health. odu.edu/public-health, nsu.edu/joint-school-of-public-health
Campus Construction
The Virginia state budget passed, providing full funding for Old Dominion University to build an Engineering and Arts Building for approximately $250 million—the largest capital investment in the university’s history. With more than 140,000 square feet, the three-story building—slated for completion in late 2030—is designed to house premier research environments, featuring advanced maker spaces and robotics labs, alongside collaborative design studios and exhibition areas for the university’s creative disciplines. odu.edu
New Degree
Old Dominion University’s School of Cybersecurity launched a new Ph.D. in cybersecurity designed to prepare the next generation of cyber leaders, researchers, and educators as the world faces new and complex security challenges. odu.edu/cyber/academics/graduate/phd
ENTREPRENEURSHIP
Workspace
IncuHub, a modern workspace designed to support entrepreneurs, startups, and growing businesses, opened at 115 28th St., Newport News, in the heart of the Yard District. IncuHub provides flexible office solutions, meeting spaces, and resources tailored to professionals. For more information about IncuHub, membership options, or to schedule a tour, email info@theincuhub.com. theincuhub.com
FINANCE
Banking
TowneBank announced that its board of directors declared its third-quarter shareholder cash dividend of $0.28 per common share payable on Oct. 9, 2026, to shareholders of record on Sept. 25, 2026. townebank.com
Forbesranked Virginia Beach-based Chartway Credit Union as the No. 1 credit union in Virginia for the first time. The credit union earned a spot on the Forbes list of America’s Best-In-State Credit Unions for the fifth year in row. (Note: This is a clarification from our previous issue.) chartway.com
HEALTHCARE
Hospitals
Sentara Norfolk General Hospital was ranked as the best hospital near Virginia Beach-Norfolk-Newport News and the third-best hospital in the state for 2026-2027 by U.S. News & World Report. Chesapeake Regional Medical Center was ranked No. 2 in the region. Sentara Princess Anne Hospital and Sentara Virginia Beach Regional Hospital were tied for third. Sentara CarePlex Hospital in Hampton and Sentara Williamsburg Regional Medical Center were tied for fifth. health.usnews.com/besthospitals, sentara.com, chesapeakeregional.com
HOSPITALITY
Food
Trolley Hospitality Companies, a Virginia-based foodservice and hospitality organization, announced the acquisition of the former Taste Catering & Events, the events catering division of Taste Unlimited. Taste Unlimited retained ownership and operation of its 10 TASTE café locations. trolleyhouseva.com, tasteunlimited.com
LEGAL
Honor
Cooper Hurley Injury Lawyers received the Client Experience Innovation Award at the 2026 Legal Excellence in Innovation Awards, hosted by Virginia Lawyers Weekly. The award recognized an organization that has transformed the way it serves clients through innovative technology, enhanced communication, streamlined processes, and a commitment to exceptional service. cooperhurley.com
MARITIME
Shipbuilding
Colonna’s Shipyard Inc. announced a multiyear agreement with Huntington Ingalls Industries’ Newport News Shipbuilding division for structural component fabrication for U.S. Navy nuclear shipbuilding programs through HII’s distributed shipbuilding effort. According to Randall Crutchfield, chairman and CEO at Colonna’s Shipyard Inc., the distributed shipbuilding partnership will help NNS meet the generational demand for Navy assets and provide CSI with predictable workload. “This agreement better enables CSI to commit resources to expand our facility, continue training and retaining a skilled workforce, and expedite critical components needed for top-line Navy programs,” Crutchfield said in a news release. The agreement has the potential to extend through 2030. Financial terms were not disclosed. colonnaship.com
Museum
The Mariners’ Museum and Park in Newport News was awarded a $748,210 grant from the National Endowment for the Humanities under the Rediscovering Our Revolutionary Tradition grant program. The Mariners’ Museum will spend the three-year grant period treating, rehousing, and cataloging approximately 516 maritime archaeological items from the 1781 Battle of Yorktown, making them available for research and community engagement in the future. This work will happen in partnership with the Virginia Department of Historical Resources, which owns more than half of the collection from the battle. marinersmuseum.org
REAL ESTATE
Housing
The Breeden Company, a Virginia Beach-based real estate development firm, announced the start of construction on Phase 2 of Harbor Vista at Crawford Street, its luxury apartment community located in the heart of downtown Portsmouth. Breeden Construction was awarded the contract to serve as the general contractor for the expansion. Phase 2 will add 44 new apartment homes to the community, further expanding housing opportunities in one of Portsmouth’s most desirable waterfront neighborhoods. The first apartment homes are expected to be completed in early 2027. thebreedencompany.com
Bonaventure, a Virginia-based multifamily real estate investment management firm, announced the groundbreaking of Attain at Newtown, a 320-unit Class A multifamily development at 6659 E. Virginia Beach Blvd. in Norfolk. The $85.3 million project is being developed within a federally designated Qualified Opportunity Zone and is capitalized in partnership with Cafritz Asset Management LLC, alongside long-term, fully amortizing financing through a HUD Section 221(d)(4) loan originated by Greystone. First unit deliveries are expected in fall 2027. Bonaventure also announced the full subscription and closing of a Delaware Statutory Trust (DST) offering for Promenade Pointe, a 183-unit waterfront multifamily community at 6115 Tidewater Drive in Norfolk. The offering raised $20.1 million in equity from 45 investors. bonaventure.com
Norfolk-based S.L. Nusbaum Realty Co. was No. 35 nationally in Multi-Housing News’ 2026 ranking of the Top Multifamily Property Management Companies. The annual ranking recognizes the country’s leading property management companies based on a range of factors, including units under management, portfolio performance, growth, and market presence. slnusbaum.com
Coastal Virginia’s housing market gained momentum this summer, with pending sales up 14.7% in June compared to 2025 and settled sales up 7 percent, according to the Real Estate Information Network. reinmls.com
Management
Cushman & Wakefield | Thalhimer was selected by The Cordish Companies for facilities management at the 450,000-square foot Power Plant of Hampton Roads located at 1976 Power Plant Pkwy., in Hampton, Virginia. Power Plant of Hampton Roads is a nine-building, mixed-use retail, dining and entertainment destination. Veronica Waller, portfolio manager in Cushman & Wakefield | Thalhimer’s commercial property services group in Newport News, will handle property management of the Power Plant. thalhimer.com, cordish.com
RETAIL
Wellness
Alternative Aging & Wellness, located at 15137 Carrollton Blvd.in Carrollton, reopened and expanded. alternativeagingmedispa.com
RETIREMENT
Virginia
Virginia ranks fourth among U.S. states in retirement friendliness, based on a study by home care agency Polaris Home Care. polarishomecare.com
SMALL BUSINESS
Honor
Culbertson Contracting, a Suffolk-based, woman-owned business, was named Blue-Collar Small Business of the Year by the U.S. Small Business Association. The company was founded in 2021 by Culbertson Contracting President Rachael Culbertson. The award recognizes outstanding small businesses in skilled trades and construction industries that demonstrate business success, innovation, resilience, and community impact. culbertsoncontracting.com
STATE OF THE REGION
Southside
The Hampton Roads Chamber State of the Region 2026 is noon-2 p.m., Oct. 6, at Hilton Norfolk | The Main. hrchamber.com
Peninsula
The Virginia Peninsula Chamber 2026 State of the Region—Hampton Roads is 7:30-10 a.m., Oct. 9, at the Newport News Marriott at City Center. virginiapeninsulachamber.com
VIRGINIA
State Rankings
Virginia was No. 3 in CNBC’s America’s Top States for Business rankings for 2026. The commonwealth—featuring the second-best infrastructure—improved from No. 4 overall, despite being ranked No. 23 for economy and No. 26 for cost of doing business. cnbc.com
WORKFORCE
Career Assistance
The Virginia Career Works Eastern Shore Center opened on the campus of Eastern Shore Community College in Melfa.This is the seventh Virginia Career Works location operated by the Hampton Roads Workforce Council. Virginia Career Works connects job seekers with employers through its training providers and network of professionals. Services include one-on-one career counseling, skills training, job preparation workshops, and on-site computer access. theworkforcecouncil.org
Schedule
Hampton Roads Chamber Calendar
September
8—Suffolk Business Expo, Hub757
10—Legislative Reception, Harbor Club Waterside District
15—Powered to Lead Summit: Where Women Lead, Connect & Inspire, Hub757
22—Chamber Education: Stop Closing Deals,
Start Building a Business, The HIVE Virginia Beach
23—Morning Member Meetup, Greenbrier Country Club
October
6—State of the Region, Hilton Norfolk | The Main
13—Morning
Member Meetup,
YMCA of South Hampton Roads
15—Military Citizen of the Year, The Founders Inn and Spa
26—Monster Mega Mixer Business Showcase, The Westin Virginia Beach Town Center
27—New Executive Welcome Reception, Perry Glass Studio
November
12—BRAVO!
A Celebration of Leadership, Hilton Virginia Beach Oceanfront
December
9—Annual Meeting, Virginia Beach Convention Center
For event times and updates, visit HRchamber.com.
