A capstone on a year of progress
Holiday lights have popped up and buildings have been illuminated along Belaire Avenue at Summit Pointe, signaling the nearing of another successful year’s end. As the pioneer residents of the Helix Apartments stroll down these light-lined streets, we envision the day where this urban center bustles with a myriad of guests, business people and residents every day.
A truly remarkable amount of progress has been made this year. Construction on the first two blocks of Phase 2 sped along throughout 2020. The Helix Apartments were completed in August 2020, followed shortly after by Summit Pointe’s newest office tower, 555 Belaire, and a second, 1,500-car parking garage for Dollar Tree employees.
The first residential community at Summit Pointe, Helix, is now 100% leased. Community amenities include a fitness center, rooftop lounge, and stylish indoor clubroom. Residents have also enjoyed social events, such as food trucks, a grab-and-go dinner, and holiday festivities. We’re thrilled to watch the community come together in just a few short months.
What is apparent is that Summit Pointe is unmatched in the region. Soon office workers and visitors will bring energy and excitement to this emerging metropolitan area. The opening of 555 Belaire is the beginning of a new downtown for Chesapeake and a new urban destination for Coastal Virginia.
We have seen a tremendous upswing in leasing interest now that construction is complete and its potential is on display. Our first commercial lease was signed shortly after the buildings were completed, and we have executed a new retail/restaurant lease that will be announced in the next 45 days! The office space has been very active, with our first tenant move-in this month and multiple companies having toured. Proposals are out, and we expect to make some exciting office tenant announcements during the 1st quarter of 2021.
555 Belaire offers a new standard with five levels of office space overlooking an impressive multi-story lobby. Street-level retail and restaurant spaces, surrounded by inviting outdoor spaces, are also getting lots of attention. We invite you to tour the property and get a first-hand look at this remarkable opportunity.
We look forward to an even brighter 2021 and wish you all a very Happy New Year!