Category Archives: WCCB

Fitch Downgrades Westminster-Canterbury on Chesapeake Bay (VA) Rev Bonds to BB+

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View analysis at Fitch.

On a forward-looking basis and assuming WCCB is able to proceed with the full scope of its capital plans, debt is expected to increase from $76 million to $496 million (or $508 million inclusive of it $12 million debt guarantee for the Senior Options Community’s acquisition of The Overture).

VIRGINIA BEACH VA DEV AUTH RESIDENTIAL CARE FAC REV Bond Detail.

CUSIP: 92774NAH3

“The City of Virginia Beach extended a conditional use permit to Westminster to contract, among other things, a structure which violates the use regulations and density restrictions for the B-4 mixed use Shore Dive Overlay District. The Demurrers were erroneously sustained.”

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The Appeal & opposition to appeal documents.

Petition for Appeal OSCA.pdfDownload
220112 Westminster-Canterbury Brief in Opposition to PFA.pdfDownload
220112 Virginia Beach Brief in Opposition to PFA.pdfDownload
Rendering used in WAVY coverage.

“There’s a delay in plans to construct Virginia Beach’s [tallest] building along Shore Drive.”

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News at WAVY.com.

“A group of neighboring condo owners is continuing a fight to stop the construction permanently. After a circuit court judge dismissed claims that City Council unlawfully approved the $250-million expansion project in 2020, they recently appealed their case to the Supreme Court of Virginia.”