US: The Cordish Companies has released details today of $1.4 billion Live! Gaming & Entertainment District, a transformative mixed-use development in Petersburg, Virginia.
Cordish is one of the largest developer/operators of upscale mixed-use, entertainment and casino resort destinations in the US. It says the scheme will be “a world-class entertainment destination and mixed-use project with gaming that will generate billions of dollars in economic benefits and spinoff development, create thousands of new jobs and benefits to the local community, and become a major new tourist destination for the city”.
Located at the intersection of Wagner Road and Interstate I-95, the Live! Gaming & Entertainment District will offer access on and off the east coast’s major north-south interstate.
Developed in phases over 15 years, the development will eventually deliver four million square feet of overall mixed-use development including more than 1,300 residential units, 500 hotel rooms, and 600,000 square feet of retail, dining and entertainment space.
“The details unveiled today show what the city’s vision is for this type of project and why we wanted to work with Cordish as the developer,” said Petersburg mayor Sam Parham. “An important part of our selection process was to identify a development partner with a proven track record in developing and operating mixed-use and casino properties, a long history of revitalising cities across the country, and strong community engagement practices. Cordish is the only company, of the many we consulted with, that showed Petersburg a plan that goes beyond a casino and gives us a path to revitalise our city. We are confident that we have the ideal partner in The Cordish Companies to bring our vision to fruition.”
Zed Smith, COO of The Cordish Companies, said: “The Cordish Companies is pleased to unveil details today for this major transformative development. Live! Gaming & Entertainment District will be a catalyst for change and significant urban development, will transform the City by creating a thriving entertainment and hospitality attraction for the entire Region, and provide first-class amenities for the local community while generating spin-off economic development, creating thousands of new jobs for area residents, and substantial opportunities for local, minority, women-owned, and veteran-owned businesses. We look forward to continuing our work with the City to bring their vision to life.”
