Business Services Industry
New housing in Norfolk, Va., reverses migration to suburbs.
Knight Ridder/Tribune Business News, October, 2004
By Harry Minium, The Virginian-Pilot, Norfolk, Va. Knight Ridder/Tribune Business News
Oct. 6--NORFOLK, Va. -- Residential development in the city is booming, with more than $1 billion in private investment in housing during the past 4 1/2 years.
After losing population nearly every year since 1960, the city saw a turnaround beginning in 2001. The number of homes has increased by about 1,500 since 2000 in spite of the demolition of hundreds of homes in East Ocean View and Broad Creek.
City officials celebrated the progress this week at the groundbreaking for St. Paul's Place, a $20 million, 90-unit condominium development next to MacArthur Center.
"It's a significant new addition to downtown," Mayor Paul D. Fraim said....
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