Atlantic Park is a year-round district on the Virginia Beach Oceanfront.
Compiled by Butch Maier
$350 Million Total Cost
Atlantic Park is a year-round district on the Virginia Beach Oceanfront. It is home to a live entertainment and events venue (The Dome by Rutter Mills), a surf park (Atlantic Park Surf), residences (including Atlantic Park Living), office space, and a mix of shopping and dining (including The Hampton Social).
$210 Million Private Investment
The private investment totaled $210 million of debt and equity, including: two bonds; a syndicated commercial construction loan led by Fulton Bank, Old Point National Bank, and Dollar Bank; and a TowneBank construction loan.
$36.6 Million Public Infrastructure
Virginia Beach invested $36.6 million in public infrastructure neighboring the project.
$46 Million Parking Spaces
Virginia Beach’s approved budget allocation for Atlantic Park parking was $45,950,000. The funding included the purchase of approximately 1,400 parking spaces in multiple garages within the mixed-use development. The parking supports retail, the surf park, the entertainment venue, restaurants, offices, and residential units.
$3 Parking
Parking in the 20th Street municipal garage costs $3 for two hours.
$75.50+ Concert Ticket
The least expensive general admission floor ticket for the Fetty Wap concert Sept. 12 at The Dome by Rutter Mills was $75.50 before fees.
$90+ Surfing Session
The least expensive Atlantic Park Surf 55-minute surfing session is $90.
$53.4 Million Project-Generated Revenue Bonds
The developer and the city structured the Virginia Beach’s first Community Development Authority (CDA). Facilitated by Piper Sandler, the Atlantic Park Community Development Authority issued $53,365,000 of revenue bonds supported by project-generated revenues. Revenues include certain state sales tax revenues generated pursuant to the state legislation known as the Virginia Beach Sports and Entertainment Project Act.
$843,000 Admission Tax Revenue
The city of Virginia Beach received approximately $843,000 in admission tax revenue through ticket sales from The Dome by Rutter Mills in its first year, from May 2025 to May 2026.
$58 The Hampton Social Classic Ribeye
The most expensive menu item at The Hampton Social is The Classic Ribeye. The $58 dish features a 12-ounce USDA Prime ribeye finished with garlic butter and served alongside mashed potatoes and rich demi-glace.
$54.8 Million Sports and Entertainment Revenue Bonds
The Virginia Small Business Finance Authority issued $54,765,659 of senior and subordinate tax-exempt Sports and Entertainment Facilities Revenue Bonds to assist in the financing and development of Atlantic Park Surf—the surf park—in conjunction with P3 VB Holdings, LLC. The revenue bonds are supported by surf park-generated revenues.
$116 Million Land Acquisition and Construction
The city of Virginia Beach has invested approximately $116 million in land acquisition and the construction of city-owned facilities, including the entertainment venue and public parking structures.
$3,750/Month 3-Bedroom Apartment
The biggest Atlantic Park Living apartments are three bedrooms and cost $3,750 per month.
$1,650/Month Studio Apartment
Studio apartments at Atlantic Park Living start at $1,650 per month.
$6 Million The Hampton Social
The Hampton Social at Atlantic Park represented an approximately $6 million investment, bringing the brand’s signature coastal-inspired dining experience to Virginia Beach, according to Parker Hospitality founder and CEO Brad Parker. The build included a custom-designed restaurant spanning indoor and outdoor dining spaces, a large central bar, expansive patio seating, and elevated finishes. The largest capital investments were commercial kitchen equipment and the restaurant’s custom exterior and interior signage.
$20 Million+ Modernized Infrastructure
The $36.6 million infrastructure cost included more than $20 million for modernizing antiquated utility infrastructure.
$6 Million Streetscapes
Virginia Beach approved $6 million for Atlantic Park streetscapes and other pedestrian improvements.
$9 Million Tax Revenue
Once stabilized, the Atlantic Park district is expected to generate approximately $9 million annually in tax
revenue for the city.
Sources: Atlantic Park Living, Atlantic Park Surf, City of Virginia Beach, Drucker + Falk, Golden Word,
Parker Hospitality, The Hampton Social, The Palm Tree Type, Ticketmaster, Venture Realty Group
Additional PHOTOS COURTESY OF DRUCKER + FALK; Atlantic Park Living residential living room with an Atlantic Park Surf lagoon view
