Great Economic News for Hampton!

Within the last couple of weeks, the Daily Press has been posting positive articles in the Newspaper about Hampton.  Revenues are increasing as new businesses are opening up as well as the construction of two new upscale hotels.  Any type of business, whether it is retail, hospitality and tourism, would not choose our city unless projections of economic growth was evident.  And it is happening here in Hampton.

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What I find most impressive is the development of  Phoebus.  I have always enjoyed the American Theatre which showcases music from jazz and classical performers to plays and the annual visit of the Tibetan Monks. But it is also a great place to dine.  Now we have the comeback of Fuller’s Raw Bar, the new Sly Clyde Ciderworks, the Honey House Boutique (Retail) and the Restaurants that are already established: The Point and Mango Mangeau (which now has a catering hall, The Hampton).

 

I look forward to the opening of the upscale Harris Teeter Grocery Market in the Willow Oaks Shopping Center which hopefully will be an anchor store that will attract other retails outlets and Mom and Pop stores so that the entire center can become revitalized.  Also exciting in the food industry is the super Kroger that is coming to the Riverdale shopping center with it’s own Kroger fas.

 

The Peninsula Town Center is continuously growing as well as new restaurants and buildings are coming on the scene.  There has been some negative discussion on social media concerning the closing of several stores in the Town Center; however, this is not totally a reflection of the economy of Hampton, but the changing ways that consumers are shopping.  We, as consumers, are moving towards online purchasing rather than brick and mortar and having goods either delivered to your home or having larger stores bringing purchased goods to your car.

The Town Center, as with other large consolidated shopping centers may turn out to be more of an event center with Restaurants, Spas, and Sports businesses rather than pure retail.  This is happening nationwide.

MezahBuilding Near Target

As for home construction, I see it so evident throughout Hampton, especially near the Buckroe area and Phoebus.  Houses are being built in the $200 – $300K range and are looking fantastic.  Our waterfront properties are going to be an affordable alternative to Virginia Beach.

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My hope as a real estate agent is that the overall economy stays strong so that not only Hampton, but the whole Hampton Roads area can prosper as well as the nation.  What attracts more home buyers to our area is an enjoyable, fun place to live and job opportunities.  I truly believe that Hampton is that place.  If you are looking to purchase or sell an existing home, please feel free to contact me anytime!

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