Local businessman Coleman Ferguson plans to bring a world-class arena to Virginia Beach in the next few years, a project he believes has many advantages.
“Being a sports guy, I’m super excited,” Virginia and U.S. History teacher Heath Boomer said.
Ferguson is a Virginia Beach native who currently spearheads the effort to build a 20,000-seat multipurpose stadium near the Oceanfront to potentially draw in high-end sporting, musical and cultural events. He also hopes that a world-class stadium, whose construction would be a first for the city, could attract a new team from the National Basketball Association (NBA) or National Hockey League (NHL).
“I think this can bring a lot of people,” senior and SCA Treasurer Henry Nguyen said.
Ferguson has similar thoughts, believing that a local stadium could sell out hundreds of times annually. His group, the Virginia Beach Arena Corporation, estimates a revenue of $213 million a year, per the corporation’s website.
“I know we have the amphitheater; that’s basically all [we have],” freshman Nolan Prince said.
Funding the project will require hundreds of millions of dollars, but Ferguson opposes using taxpayer money. Instead, he hopes to raise money via crowdfunding and private investors, but he has a long way to go before reaching that point.
“Funding doesn’t fall out of trees,” Boomer said.
Ferguson is also hopeful that the NBA or NHL would view Virginia Beach as a more enticing expansion location if it had a suitable venue. Currently, Virginia does not have any teams in major professional sports leagues.
The project is still in the very early stages of development, and there is no definitive location determined yet. However, some possible sites include near the Oceanfront, in the Princess Anne area, Northampton or between 17th and 19th Street.
“If it could happen, it’d be a stronger city,” Henry said.
