One of the last working waterfronts and privately held developable deepwater sites in Hampton Roads is for sale.
The 3.4-acre site in the Phoebus section of Hampton had been where wild-caught scallops, shrimp, oysters and other seafood arrived for processing and packing at Wanchese Fish Co. for decades before the operation relocated to Newport News two years ago.
The property at 28-38, 48 and 52 Water St. was listed in May for $4 million with Hampton Carver, principal with Richmond-based CarverCo, handling the sale. Zoned for mixed-use development, the site includes over-water development rights with 10 feet of water depth at its docks.
“The site’s transition from long-time seafood waterfront to mixed-use illustrates the transition of Hampton Roads’ economy from seafood-centric to one of residential and commercial uses,” Carver said.
Interested parties to date have included restaurant owners and residential developers.
“I think it really presents itself as a lifestyle development on the water. …The views are such that it really demands a high-quality product,” Carver said. “I think it could be a real hub to help kick off more development in the area.”
Water Street, accessible by foot, bike, car and boat, is situated between the historic village of Phoebus’ growing restaurant district and Fort Monroe’s more than 500 acres of parklike amenities, including beaches and walking trails. Virginia Capital Trail, in cooperation with the Tidewater Trail Alliance, is planning a bike trail from Richmond to Fort Monroe that will run adjacent to Water Street.
A familiar marker to generations of residents and visitors, the property is visible to more than 3 million vehicles that traverse the Hampton Roads Bridge-Tunnel each month, according to the Virginia Department of Transportation.
Carver referred to the site — noted as a gateway property by the city — as a local landmark for Interstate 64 travelers.
“I remember it as a child. We would always look over there and see the shrimp, scallop and other fishing boats,” Carver said. “The working waterfronts — from the standpoint of seafood, the culture of the watermen and people working on the water — are diminishing. It’s sad to see it, but it’s just an interesting feature of the changing economies.”
Wanchese Fish Co., which dates back to 1936, was based in Manteo, North Carolina. Canadian-based Cooke Seafood bought the company in 2015 and relocated the Phoebus operation to the Seafood Industrial Park in Newport News due to a need for larger dock facilities. The company maintains a corporate office and processing facility in Suffolk.
While Carver said part of him is sad to see the transition, he also wants to make sure the property is positioned to be a long-term asset for Hampton and Phoebus because of the catalyst it could be for further development.
“I believe Water Street’s future includes high-quality multifamily and waterfront restaurant/marina uses and that its development will catalyze Phoebus’ emergence as a center for investment and development,” he said.
Sandra J. Pennecke, 757-652-5836, sandra.pennecke@pilotonline.com
