Monument Companies Leads a Downtown Reimagined Plan Reutilization Project

Previously owned and occupied by Virginia Specialty Stores, 2800 Washington Avenue was acquired by the EDA in 1994. After renovation, the EDA leased the property to Newport News Shipbuilding (NNS) where the property supported NNS office functions through June 2022.

Following the expiration of the lease with NNS, the EDA issued an RFP in November 2022 to solicit private-sector interest for the reutilization of this property in Downtown Newport News, in alignment with the Downtown Reimagined Plan and to complement and enhance the recent public and private investment Downtown.

The Monument Companies (“Monument”), a controlled group of companies providing fully-integrated real estate development, construction and property management services, was chosen to handle the project. Monument, headquartered in Richmond, Virginia, is considered to be an industry leader in urban multi-family and mixed-use Historic Rehabilitation Tax Credit projects.