Norfolk Redevelopment, Va., coordinates $56.25 million bond offering

By Sheri Kasprzak

New York, Nov. 17 – The Norfolk Redevelopment and Housing Authority of Virginia is set to hit the market with $56,245,000 of series 2014 revenue and refunding bonds for the Fort Norfolk Retirement Community Inc. – Harbor’s Edge project, according to a preliminary official statement.

The bonds will be offered through H.J. Sims & Co. Inc.

The bonds are due 2016 to 2025 with term bonds due in 2032 and 2047.

Proceeds will be used to refund the authority’s series 2004A and 2010A revenue bonds issued for the project, as well as to finance pre-development costs associated with phase II of the project, including the expansion of existing facilities and the construction of new facilities. Fort Norfolk Retirement Community – Harbor’s Edge is a senior living facility on Colley Avenue in Norfolk, Va.

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