NORFOLK, Va. — One of the nation’s oldest family-owned builders will steer a billion-dollar redevelopment set to reshape the core of Norfolk, Virginia, with new affordable housing and vibrant community amenities.

Gilbane Development Co., headquartered in Providence, Rhode Island, has been named lead developer for the $1 billion Calvert Square and Young Terrace redevelopment, part of Norfolk’s ambitious St. Paul’s Transformation Project. The plan will deliver more than 1,000 new housing units on 55 acres, replacing aging public housing with a modern, mixed-income, mixed-use neighborhood designed to serve existing residents while opening doors for new families.

The project is the latest in a series of efforts by the City of Norfolk and the Norfolk Redevelopment and Housing Authority to revitalize several longstanding public housing communities near downtown, including the Tidewater Gardens Public Housing site already under redevelopment.

“This work is about more than buildings — it’s about creating a resilient neighborhood that reflects the vision and aspirations of current residents,” said Bobvala Tengen, senior development manager at Gilbane Development Co., in the announcement. “Our goal is to create high‑quality, inclusive housing options and neighborhood assets that reflect the vision and aspirations of current residents while building toward a stronger, more resilient future.”

Design for Resilience and Community

‍Plans for the redeveloped neighborhood call for a blend of affordability, sustainability, and resilience. The city’s goals include a 22-acre recreational park, enhanced stormwater and tidal controls to address flooding risks, and a network of blueways, greenways, and nature areas that tie the community together.

Residents can expect a walkable neighborhood with new community gathering spaces, historical and cultural exhibits, and programming designed to honor the area’s roots while adapting to Norfolk’s changing climate and housing needs.

A Major Investment in Equitable Housing

‍The scale of the Norfolk redevelopment underscores Gilbane’s growing role as a major player in the affordable housing and mixed-use sector. The firm, part of Gilbane Inc., has delivered over 25,000 units nationwide and manages over $11.8 billion in development spanning multifamily, healthcare, schools, and government projects.

For Norfolk, the project is a linchpin in the city’s vision for a more equitable and resilient future. As older public housing stock reaches the end of its useful life, city leaders see mixed-income redevelopment as a pathway to break up concentrated poverty and deliver safer, more vibrant neighborhoods.

What Comes Next

‍Construction on the Calvert Square and Young Terrace redevelopment is slated to begin in 2027, according to local reporting by WAVY. The multi-phase buildout is expected to attract new private investment, create construction and permanent jobs, and serve as a model for other cities confronting aging public housing challenges.

Combined with the adjacent Tidewater Gardens redevelopment, the effort represents one of Virginia’s largest affordable housing investments in recent years — a bold bet that well-planned neighborhoods, resilient design, and community-driven development can transform lives and strengthen cities for the next generation.

Originally reported by Matthew Thibault in Construction Dive.