A city decision on a proposed business grant is the next step for a vacant Shore Drive property slated for a two-story dental office. Mavromatis Dental plans to build at 2876 Shore Drive, near North Great Neck Road, on the site of a McDonald’s that closed in 2024 and had served Chesapeake Bay beachgoers.
What the City’s Shore Drive Plans Cover
The city’s Shore Drive Phase III project description says the road project extends from Vista Circle through the Great Neck Road intersection to Beech Street. It describes the transportation project’s limits, not commercial land uses, access changes, or redevelopment at the dental site.
The project is expected to cost nearly $6 million for the land purchase and construction, according to The Virginian-Pilot. The property has been vacant for more than two years and is owned by Franchise Realty Interstate Corp.; Virginia Beach assesses it at $2.1 million.
Plans call for the dental practice to occupy the first floor, with staff space on the second. A separate 2,000-square-foot space would be leased to another healthcare professional. The Virginian-Pilot reported that the documents it reviewed did not provide further detail about the layout.
Grant Would Be Paid After Project and Job Requirements Are Met
The Virginia Beach Development Authority is scheduled to vote Tuesday on a proposed $159,600 grant for Mavromatis Dental through the Economic Development Investment Program. The city describes the program as a discretionary incentive providing cash grants to qualifying companies with growth needs, as explained by Virginia Beach.
The proposed award includes $147,600 tied to capital investment and $12,000 for job creation, according to The Virginian-Pilot. Payment would follow completion of the project, and the jobs associated with the grant would need to be created or retained for a full year.
The office is projected to employ 17 people, including four new positions. The four new jobs would have an average salary of $102,333, not including benefits, the article reported. At the end of September, the city’s Economic Development Investment Program had a fund balance of $6 million.
A Family Practice Moving Across the Street
Dr. Jack Mavromatis has practiced dentistry for 42 years and now works with his sons, Carter and Corey. Their current office is at 2248 Sunstates Court, across Shore Drive from the proposed site.
Virginia Beach has used the same grant program for other local businesses before. The Development Authority previously awarded GovSolutions $193,000 under the program for a capital investment, according to WAVY.com, and three Virginia Beach-based companies received similar grants from the authority back in 2017, as reported at the time by The Virginian-Pilot.
The documents reviewed do not disclose a construction timeline, opening date, or the identity of the planned second-floor healthcare tenant. The Development Authority’s vote is the next public decision identified for the proposal.
