VBDA to sponsor TDFP application for Hotel Indigo conversion on Atlantic Avenue
June 09, 2026 | VA BEACH CITY PBLC SCHS, School Districts, Virginia
This article was created by AI summarizing key points discussed. AI makes mistakes, so for full details and context, please refer to the video of the full meeting. Please report any errors so we can fix them. Report an error »
The Virginia Beach Development Authority voted to sponsor a TDFP application and enter a performance agreement to support redevelopment of the Ramada at 2809 Atlantic Avenue into a Hotel Indigo.
Staff said the proposed project is a roughly $19 million conversion and rebrand, with renovations beginning in the fall and reopening next spring. The applicant seeks $5 million in gap financing through the state Tourism Development Financing Program (tier-one) and estimates annual new tax revenue of about $743,000 once operating as Hotel Indigo. The state tourism commission has favorably received the application and staff said the city contribution risk is limited because the program is performance-based.
The board moved and seconded the VBDA sponsorship and approved the resolution to submit the TDFP application to the state.
Staff said the proposed project is a roughly $19 million conversion and rebrand, with renovations beginning in the fall and reopening next spring. The applicant seeks $5 million in gap financing through the state Tourism Development Financing Program (tier-one) and estimates annual new tax revenue of about $743,000 once operating as Hotel Indigo. The state tourism commission has favorably received the application and staff said the city contribution risk is limited because the program is performance-based.
The board moved and seconded the VBDA sponsorship and approved the resolution to submit the TDFP application to the state.
View the Full Meeting & All Its Details
This article offers just a summary. Unlock complete video, transcripts, and insights as a Founder Member.
✓
Watch full, unedited meeting videos
✓
Search every word spoken in unlimited transcripts
✓
AI summaries & real-time alerts (all government levels)
✓
Permanent access to expanding government content
30-day money-back guarantee
