Iverson Landing: A New Housing Vision Takes Shape in Newport News

By Eric S. Cavallo
Editor-in-Chief, Hampton Roads Construction News Network (HRCNN)

Newport News is entering a new chapter in its housing growth, and few projects illustrate that shift more clearly than Iverson Landing, the 120-unit apartment community planned for Old Fort Eustis Boulevard. What started as a routine rezoning request has grown into one of the city’s most anticipated developments—powered by thoughtful design, strong local investment, and the involvement of Newport News’ own Allen Iverson. In a year marked by rising demand for workforce housing, the project stands out as a symbol of progress and hometown partnership.

The proposal calls for four three-story buildings, a clubhouse, modern amenities, and new landscaping across a 6.29-acre site just off Jefferson Avenue. Its placement is strategic: close to Fort Eustis, within commuting distance of shipyard employers, and aligned with the city’s long-range plans for medium-density growth along this important corridor. While the land currently holds a single-family designation, Newport News has long signaled the need for more diverse housing types in precisely this area—making Iverson Landing both timely and consistent with the city’s vision.

At the heart of the project is the development team led by Iverson and longtime business partner Alvin Keels Jr. Their investment is not symbolic. It represents a deliberate effort to reinvest in the community where Iverson was raised, creating new housing options while demonstrating that local, minority-led development can play a leading role in shaping the city’s future. For many residents, the project carries an uplifting message: successful Newport News natives are choosing to build in Newport News again.

Financially, Iverson Landing is structured as a privately funded, market-rate project, distinct from subsidized or tax-credit housing. This approach gives the development team freedom to target the workforce segment—residents who earn too much for income-restricted programs yet struggle to find modern, reasonably priced apartments near major employers. Importantly, the City of Newport News did not provide direct financial incentives. Instead, the public contribution came through a clear and collaborative zoning process designed to support responsible growth.

Traffic improvements became a key part of that collaboration. After early discussions, the developers revised their plans to include a widened roadway section, a dedicated turn lane, optimized signal timing, and a commitment to fund a new traffic signal if warranted after the community is built. These enhancements not only address neighborhood concerns—they represent a tangible infrastructure upgrade for the entire corridor. The Planning Commission and City Council ultimately embraced the updated plan, recognizing both the design improvements and the project’s long-term economic value.

Neighborhood feedback was an essential part of shaping the final proposal. Residents voiced concerns about traffic, drainage, and the transition from single-family homes to multifamily buildings. Their input helped refine the plan’s buffering, building placement, and stormwater layout. The result is a more thoughtful design—one that respects the character of nearby homes while introducing a needed housing option to the area. The process demonstrated that growth and neighborhood preservation do not have to sit in opposition; they can inform each other.

With rezoning complete, the project now enters its next stage: detailed engineering, contractor selection, and preparation for construction. The development team’s emphasis on quality and transparency will be pivotal as Iverson Landing moves from concept to reality. Strong coordination among engineers, architects, and the eventual general contractor will determine how effectively the project delivers on its commitments to both residents and the city.

In many ways, Iverson Landing represents the best of what local development can be—a partnership between hometown investors, city leadership, and community voices working toward a shared outcome. If executed well, the project will add modern housing, support key job centers, and reinforce Newport News’ momentum as a city ready to grow with intention. It stands as a reminder that when opportunity, planning, and community engagement align, progress becomes possible.

About HRCNN

The Hampton Roads Construction News Network (HRCNN) provides independent, in-depth coverage of construction, zoning, infrastructure, and development across Coastal Virginia. With a commitment to clarity and industry expertise, HRCNN delivers the trustworthy reporting that residents, builders, and policymakers rely on to understand the projects shaping our region’s future.

Lennar Homes’ Arrival Could Shift Housing Dynamics in Virginia Beach and Chesapeake

By HRCNN Staff Writer

In Virginia’s ever-evolving housing market, few names carry the national weight of Lennar Homes. The company’s potential entry into Virginia Beach and Chesapeake signals more than just another development cycle—it suggests a realignment of how Hampton Roads approaches growth, affordability, and neighborhood planning.

Lennar, one of the largest homebuilders in the United States, has built a reputation for creating expansive communities with a focus on efficiency, accessibility, and scale. Should their presence expand locally, residents and policymakers alike will face questions about the balance between supply and demand, zoning discipline, and infrastructure capacity.

Virginia Beach and Chesapeake are already grappling with significant housing pressures, including affordability concerns, shifting demographics, and the need to diversify housing stock. A Lennar-driven community, with its signature blend of suburban design and packaged amenities, could provide much-needed relief. Yet, as with any large-scale development, the impact on schools, traffic, and public utilities will need to be carefully assessed.

Contractors and subcontractors in the region stand to benefit from Lennar’s arrival. Local firms accustomed to delivering mid-scale residential work could see opportunities expand, as Lennar typically engages a broad network of trade partners. For Hampton Roads builders, the challenge will be to maintain quality and community integration at the pace Lennar is known for nationwide.

Equally important is how municipalities respond. Chesapeake, with its abundance of developable land, and Virginia Beach, with its careful land-use planning, will likely approach Lennar projects through different regulatory lenses. Planning commissions and zoning boards will be tasked with ensuring that Lennar’s footprint aligns with long-term comprehensive plans and neighborhood character.

For residents, the trade-offs will be tangible. On the one hand, new housing supply could stabilize prices and open doors for younger families eager to put down roots. On the other hand, rapid suburbanization carries risks for open space preservation, traffic congestion, and stormwater management—issues already pressing for coastal communities.

What makes Lennar’s potential entry most significant is scale. While local builders have sustained Hampton Roads’ housing market for decades, Lennar’s size and efficiency could accelerate growth beyond current expectations. Whether that growth strengthens the region’s resilience or strains its systems will depend on how city leaders, contractors, and residents manage the next chapter.

About HRCNN

The Hampton Roads Construction News Network (HRCNN) is a regional news platform dedicated to providing timely, accurate, and in-depth coverage of construction, infrastructure, zoning, and development across Hampton Roads and Virginia. HRCNN serves as a trusted source for industry professionals and the public, ensuring transparency and insight into the forces shaping our built environment.

The Franklin Group: Setting the Standard for AMI Housing in Hampton Roads

By HRCNN Staff Writer

In Hampton Roads, the conversation around affordability and growth often circles back to one developer: The Franklin Group. Headquartered in Virginia Beach, the company has become a cornerstone in the region’s effort to deliver housing aligned with Area Median Income (AMI) benchmarks. By prioritizing communities that meet the needs of working families, seniors, and essential workers, The Franklin Group has redefined what leadership in housing looks like.

Since its founding in 2013, the company has rapidly scaled its development footprint, building thousands of units across Virginia and beyond. Yet it is in Hampton Roads where its impact is felt most deeply. The Franklin Group has pursued a deliberate strategy of tying rents to AMI levels, ensuring that the housing stock reflects the financial realities of the region’s workforce rather than pricing them out.

By HRCNN’s best projections, The Franklin Group has been directly responsible for creating at least 392 dedicated affordable units in Virginia Beach alone over the past decade. This figure includes landmark projects such as Price Street I and II, which collectively delivered more than 260 LIHTC-supported apartments, and the 925 Apartments I development, which added 128 homes serving households between 40 and 80 percent of AMI. Each of these projects has offered a lifeline to families navigating the widening gap between wages and housing costs.

Other developments, such as the Renaissance Apartments and potential additional phases of the 925 Military Highway community, suggest the actual total of affordable units may be higher. While full affordability breakdowns are not yet public, city approvals and financing structures point to hundreds more units in the pipeline, underscoring The Franklin Group’s continuing commitment to housing access in Hampton Roads.

What distinguishes the company’s work is not only the volume of units delivered but also the quality of community design. The Franklin Group consistently integrates green spaces, sustainable building standards, and thoughtful amenities into its projects, ensuring that affordability does not come at the expense of livability. This balance strengthens neighborhoods and supports long-term stability for residents.

In stark contrast, nonprofit housing organizations in the region—some of which have operated for three to four decades—have not produced even a fraction of these results. Despite receiving millions in taxpayer support, these groups often appear mired in a culture of bureaucracy and self-preservation. Too much emphasis has been placed on titles, organizational hierarchies, and maintaining grant pipelines rather than on measurable housing outcomes. For many critics, the internal culture of these nonprofits has shifted toward safeguarding prestige and administrative control, leaving responsible stewardship of taxpayer dollars as a secondary concern.

The cultural differences between the two models are hard to miss. The Franklin Group operates with the urgency and accountability of a private developer, where success is measured in units delivered, communities stabilized, and families housed. Nonprofit developers, by contrast, too often measure success in press releases, board appointments, or the size of the next funding award. This divergence explains why, after decades of effort, nonprofits have yet to demonstrate the scale or efficiency of The Franklin Group.

As Hampton Roads continues to face rising housing costs and pressing questions of equity, The Franklin Group’s leadership provides a clear example of solutions in action. With hundreds of affordable units already delivered and more on the horizon, the company stands as a regional leader ensuring that housing in Hampton Roads remains accessible, stable, and resilient.

About HRCNN

The Hampton Roads Construction News Network (HRCNN) delivers timely, accurate, and in-depth coverage of construction, zoning, infrastructure, and housing across Virginia. By spotlighting the builders and policymakers shaping our communities, HRCNN serves as a trusted resource for industry professionals and the public alike.

Quarterra’s Arrival Could Reshape Virginia’s Housing Landscape

By HRCNN — Hampton Roads Construction News Network

In the Hampton Roads housing market, where inventory remains tight and prices continue to climb, the arrival of a national multifamily builder such as Quarterra carries consequences worth examining. While most headlines around housing tend to focus on interest rates or local rezonings, the deeper question is whether new players in the market can disrupt the longstanding supply-and-demand imbalance that keeps many entry-level buyers on the sidelines.

Quarterra, once part of Lennar and now a stand-alone multifamily powerhouse, has been steadily expanding its presence across Virginia. Its projects in Northern Virginia, such as the Lumen development at Tysons Corner, showcase a blend of scale, capital, and design that few local firms can match. And while Quarterra’s portfolio has traditionally been concentrated in larger metro areas, its national strategy and recent property management consolidation with Alfred’s RKW Residential signal an intent to broaden its footprint. For Hampton Roads, this could mean new development energy in cities like Chesapeake and Virginia Beach.

The significance is not only that new buildings would rise on local skylines, but that a company with Quarterra’s resources has the ability to deliver hundreds of units at once. In markets long dominated by a handful of builders, such capacity matters. Local firms often manage growth carefully, limiting inventory to maintain price strength. By contrast, a national multifamily developer is incentivized to build at scale, creating new supply that filters across price points. Even luxury apartments can relieve pressure on the overall market by drawing households upward and opening opportunities in more affordable segments.

This is particularly relevant in Hampton Roads, where buyers and renters alike face constrained options. For many young families, the price of new single-family homes has been pushed beyond reach, as builders hold pricing power in a market short on alternatives. The presence of a national builder with the ability to deliver volume may weaken that grip, easing scarcity and giving buyers relief from what has too often felt like a controlled market.

Still, the implications are complex. Local builders who have long set the terms of development may view Quarterra’s presence as unwelcome competition, especially if land values rise and project standards shift upward. Others may see opportunity in partnership, leveraging Quarterra’s capital and management infrastructure to pursue larger-scale developments together. Either way, the entry of a firm with national reach forces a recalibration of the region’s housing dynamics.

Quarterra’s recent financial moves underscore this potential. The company has engaged in multi-billion-dollar transactions, selling large portfolios to investors such as KKR and QuadReal, while reinvesting in select markets. With a management platform now overseeing more than 50,000 units nationwide, Quarterra has both the balance sheet and the operating infrastructure to scale quickly in regions where demand is strong. If Hampton Roads becomes a focus, local builders and policymakers will need to adapt to an environment where the pace of delivery is no longer set solely by local interests.

For buyers, that adaptation may be long overdue. Housing affordability in Virginia Beach, Chesapeake, and the broader region has become a persistent challenge. Introducing a new supply stream at scale could soften demand pressures, break through price locks, and open doors that have been closed for too many entry-level households. In the end, the presence of Quarterra in Virginia should be viewed less as a threat to established players and more as an opportunity for the market to reset — toward balance, toward competition, and, most importantly, toward relief for the families who simply need a place to call home.

About HRCNN The Hampton Roads Construction News Network (HRCNN) delivers independent, fact-based coverage of development, zoning, and infrastructure issues shaping Virginia. Our reporting provides residents, policymakers, and industry professionals with clear insight into how growth is managed across the region. By highlighting both local builders and national firms, HRCNN is committed to transparency, accountability, and advancing public understanding of the forces that are reshaping Hampton Roads.