Virginia Beach Arena Project Paused, Investors to Receive Refunds

City denies group's request to build 20,000-seat arena at the Oceanfront

Published on Feb. 24, 2026

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The plan to bring a 20,000-seat arena to the city of Virginia Beach has been put on pause, according to the campaign's organizer, after the city denied the group's request to build at the Oceanfront. Organizer Coleman Ferguson said the city's development authority does not want the arena on city land at this time, but he plans to pursue building it on private land and will refund money to the project's over 2,000 investors, mainly from the Hampton Roads area.

Why it matters

The pausing of the Virginia Beach arena project highlights the challenges of large-scale development projects, especially when they involve public land and funding. It also raises questions about the city's long-term vision for the Oceanfront area and whether a privately-funded arena could still be viable in the future.

The details

According to a video posted on the Virginia Beach arena project's Facebook page, organizer Coleman Ferguson said the city did not choose the group's application for an RFP to build a parking garage at 19th Street and Parks Avenue, which would have tied into the arena. Ferguson said this doesn't mean the city does not want the arena, but that the development authority does not want it on city land at this time. While the project is now paused, Ferguson said he will refund the money to people who invested in the arena and plans to pursue building it on private land, which he acknowledged will take time due to the hurdles involved.

  • The Virginia Beach arena project was paused over the weekend.

The players

Coleman Ferguson

The organizer of the Virginia Beach arena project.

Virginia Beach Development Authority

The city agency that denied the group's request to build the arena on city land.

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What they’re saying

“We're going to refund all the investors. I think that's the smartest thing to do. We are going to pursue private land and build it on private land.”

— Coleman Ferguson, Organizer, Virginia Beach arena project (Facebook)

What’s next

The next goal is for the arena project organizers to acquire private land and reopen investment opportunities.

The takeaway

The pausing of the Virginia Beach arena project underscores the complexities of large-scale development, especially when it involves public land and funding. The organizers' plan to pursue a privately-funded arena on private land could be a path forward, but will require overcoming significant hurdles.