Pharrell Williams-Backed Surf-Park Project Gets Virginia Beach Funding
- Bonds sold by city’s development authority on Thursday
- Project includes surf park, entertainment venue and retail
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Virginia Beach tapped the municipal bond market to help fund a surf-park development backed by multi-Grammy award winning artist Pharrell Williams.
The Virginia Beach Development Authority sold about $189 million of debt on Thursday with some of the bond proceeds financing the construction of a 3,500-person entertainment venue, parking facilities and land acquisitions, as well as other projects associated with the development.