Cordish Continues Lawsuit Challenging Norfolk Casino Partnership
The Cordish Companies is continuing its legal contention that the City of Norfolk breached its Waterside redevelopment declaration it reached inwards 2013.
Cordish, a tangible estate developer that runs Live!-branded mixed-use entertainment, hospitality, and gambling casino destinations crosswise the U.S., agreed to reformulate Norfolk’s Waterside District in 2013. Cordish poured $40 one thousand thousand into the redevelopment and turned around the destination’s finances since the Waterside District reopened inward 2017.
As piece of the redevelopment agreement, Cordish’s lease says the City of Norfolk would not “subsidize or ply a performance-based subsidization for a restaurant and entertainment development of o'er 75,000 square feet similar to the project” for a lower limit of 10 years.
Cordish says Norfolk partnering with the Pamunkey Amerindic Tribe and billionaire Jon Yarbrough for a cassino resort conterminous to the city’s Harbor Park Minor League Baseball bowl violates those terms. The project, called HeadWaters Resort & Casino, is to be built less than a land mile due east of the Waterside District on the Elizabeth II River.
Case Continued
Cordish operates trinity casinos inward MD and Pennsylvania. The fellowship is aggressively seeking to expand its gaming footprint and has uttered interestingness in developing casino resorts inward North Carolina, Texas, and elsewhere inwards Virginia.
Cordish attorneys postulate they should have been issued the effectual rights to Norfolk’s gambling casino opportunity authorised through province legislation passed inwards 2020. Norfolk voters sanctioned the gambling casino development through a local referendum that same year.
Cordish sued Norfolk inwards July 2021, seeking $100 meg inward damages. The company says it would get never agreed to redevelop the Waterside District if it had known that an integrated holiday resort casino would live sanctioned within walking distance. Cordish owns the Waterside District through and through a subsidy called Norfolk District Associates (ND).
ND and its redevelopment undertake were watch glass clear: without the City’s loyalty to making Cordish its scoop developer for casino gaming, ND would non undertake the herculean task and important economical risks of redeveloping The Waterside,” the complaint declared.
Filed in capital of Virginia City General District Court, a adjudicate on that point dismissed the grammatical case inward 2022. Cordish appealed the ruling and Virginia’s Court of Appeals agreed to try the arguments.
The pillowcase has since slowed after a justice ab initio signed to the three-judge panel recused herself because of a conflict. Three tell appellate judges reheard the case inward December. It’s unclear when a ruling mightiness come.
HeadWaters Delays
Ground still hasn’t been humiliated on the $500 billion HeadWaters externalise more than quadruplet years after Norfolk voters sanctioned the development.
Last month, the developers asked for additional clip before presenting the net blueprint to the Norfolk Architectural Review Board. The gameboard must sanction all evolution projects involving terra firma purchased from the city.
Norfolk has in agreement(p) to sell 13.5 acres of city-owned dry land that currently serves as a paved parking lot for the baseball game stadium. The tentative purchase toll is $10 million.
The HeadWaters developers say the legion(p) delays have got been caused by an regalia of issues. The most recent setback came from the urban center receiving federal and province funds to build a 17-foot-high seawall on the Elizabeth I River that required the cassino be after to go slightly inland.
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