The 155-acre Innovation Park, owned by the Virginia Beach Development Authority, is located in the Princess Anne Commons Area, which is a multifunction commercial corridor with strong long-term development potential. The City of Virginia Beach identified the area as the ideal location for the Innovation Park because of its proximity to neighboring assets such as educational institutions, national and regional retailers, and dense workforce. Major developments currently underway include Acoustical Sheetmetal and YCH Development.
All of Innovation Park's Phase I was obligated within 100 days. However, additional contiguous acres are available for development.