Pembroke

The Pembroke area is located in the heart of the City and has emerged as the linchpin of Virginia Beach’s vibrant Central Business District. The Pembroke area is served by Interstate 264 and two major arterial roadways: Virginia Beach Boulevard and Independence Boulevard.

The vision for the Pembroke SGA is a central urban core with a vertical mix of urban uses; great streets, mobility and transit alternatives; urban gathering places; environmental and neighborhood preservation and enhancement; green buildings; and infrastructure opportunities providing a variety of civic, commercial, cultural and ethnically diverse areas.

True midtown location: 10 miles from the Oceanfront Resort District, 10 miles from downtown Norfolk, 10 miles from the Virginia Beach Municipal Center, and 10 miles to the Chesapeake Bay.​

Pembroke contains some of the largest concentration of office and retail space in the region with constantly expanding its inventory. It is home to several major office parks, including​ Town Center​, Convergence Center, Pembroke Office Park, and retail amenities such as Pembroke Mall. The 25-acre Town Center development spans 17 blocks and encompasses more than 800,000 square feet of Class A office space, 700,000 square feet of retail, dining, and business-class hotels.


Demographics Five-Mile Radius

VIRGINIA BEACH
Population273,485
Labor Force156,400
Median Household Income$70,944
Median Age35.5
High School/GED Graduate22.1%
Some college37%
Bachelor's Degree33.4%

Source: U.S. Census Bureau, 2019 ACS

District Real Estate (square footage)

Type of PropertyExisting SF​Rent Per SF
Retail3,500,000
​$22.10
​Office
2,500,000
​$23.23

​​Source: CoStar, 2020

The Central Business District will be home to two business accelerators:

Small Business Resource Center - HIVE

The new Small Business Resource Center - HIVE in Town Center is designed and developed to support an innovative and entrepreneurial ecosystem in Hampton Roads through collaboration with the City of Virginia Beach, academic institutions, other cities in Hampton Roads, Small Business Associations, and other entrepreneurial related organizations. Partnerships and collaboration are the core of the center’s approach to supporting innovation and entrepreneurship in the City of Virginia Beach.

HIVE's immediate purpose will serve as a business incubator to develop business competitiveness, job creation, investment opportunities, infrastructural improvements, global inclusion, workforce development, and participation within the Hampton Roads community. More information will be forthcoming.

Bio Accelerator

The City is leasing 5,706 square feet of space for Bio Accelerator which will occupy new space at the Convergence Center II. Space will be available to both startups and small and growing companies. Industry experts will nurture these companies and help them grow in the hopes that they will create new jobs and provide breakthroughs in medicine. Learn more here.