Before Wells Fargo took over ownership of the property last year, developers had planned to build a large waterfront development known as Indigo Dunes. TPL intends to buy the property from Wells Fargo and sell most of the land to the Virginia Beach Parks and Recreation Department for open space preservation and public access to the Lynnhaven River.
“It’s gratifying to see the progress we’ve made toward preserving this unique property,” said Virginia Beach Mayor William D. Sessoms, Jr. “I thank Dominion Virginia Power and the Dominion Foundation for their generosity, and for joining this partnership to save the largest piece of undeveloped waterfront property on the Lynnhaven.”
Update: In Biz Buzz at Pilotonline.com.
