Economic Development

Posted on: March 21, 2017

$12.5 million hotel planned for Peninsula Town Center at former Macy's site

PTC hotel

March 21, 2017 - Hampton’s Economic Development Authority agreed Tuesday to provide a number of economic incentives to the developer of a proposed $12.5 million hotel that would be built in Peninsula Town Center on the site of the former Macy’s Department store.

The developer, in a statement from Peninsula Town Center Media, said: “We are excited to further develop and enhance Peninsula Town Center. The new hotel will provide both business and leisure travelers market-leading accommodations in a convenient location near I-64. Guests will enjoy dining, shopping and entertainment all within a short walking distance of the hotel.”

The “term sheet and cooperation agreement” with T Peninsula Hotel VA, LLC must still be approved by City Council, which meets Wednesday. The new hotel would add to the growing mix of retail, residential and entertainment venues at Peninsula Town Center.

News release
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