THOMPSON PROPOSES $200M FOR CAVALIER HOTEL PROJECT

 
Developer Bruce Thompson unveiled a framework for what he’d like to do with the Historic Cavalier Hotel and Beach Club properties to Virginia Beach city officials Tuesday, setting the stage for financial negotiations. Thompson told a room full of elected officials and appointees that he intends to put more than $200 million into the Oceanfront properties that include the 86-year-old Cavalier on the Hill. He mentioned that his firm would have to raze the old hotel if he couldn’t secure enough support.