Real Estate in Norfolk
Things to do
Retail, housing, and financial boom make Norfolk, VA real estate your gateway to a richer life
Norfolk is an independent city and port in the southeastern region of Virginia State, and it is part of an urban complex. The city is one of the most significant and strategic locations for the Hampton Roads Region, making it a thriving buyer’s real estate market. The underlying economic conditions in the city make Norfolk the perfect place for real estate investors. While the real estate inventory is high in Norfolk, it will not remain the same for long. Norfolk City’s economy is booming, and many investors flock to the region because the real estate market is thriving. Continue reading the article and appreciate why the Norfolk, VA real estate will help you create wealth and diversify your investment portfolio.
History of Norfolk
History of Norfolk
Norfolk, Virginia, has a rich history that begins in the 17th century after Virginia became a Royal Colony in 1624 during the reign of King James I, who gave Thomas Willoughby 500 acres in the region. In 1636, King Charles I gave Willoughby an additional 200 acres, which became the original town of Norfolk. The area experienced growth due to the storehouses that received imported merchandise or stirred tobacco for export. In the early 18th century, Norfolk developed into the West Indies trade center, and it became the most prosperous city in Virginia. Homes, farms, and businesses continued to thrive after the state incorporated the town in 1705. Virginia officially included the metropolis in 1736, although Governor Lord Dunmore ordered its destruction in 1776 when the city burned down during the American Revolution. The 19th century was a critical period for the city’s development despite the challenges of fires, epidemics, economic depression, and war. For example, Norfolk became a terminus for numerous railroads in the region, propelling economic growth. During World War II, thousands of workers went to Norfolk to construct over 100 ships and landing crafts. The SCOPE Convention and Cultural Center influenced significant growth in the city following World War II, including housing development. Moreover, socio-economic drivers such as schools, universities, healthcare, and a baseball stadium created a solid economic base in the city. Norfolk is currently a significant American naval and world shipping hub.
Things to do in Norfolk
Things to do in Norfolk
The first thing most people do in Norfolk is to tour the Battleship Wisconsin, which was berthed at Nauticus. It is one of the largest and last battleships the United States Navy built during World War II. You can take tours and learn about its history, including how it earned five battle stars during WWII. The Navy also owns the Hampton Roads Naval Museum, which has a collection of weapons, underwater artifacts, ship models, and authentic uniforms.
You should also visit the Norfolk Botanical Garden, the largest in Virginia, featuring 175 acres, seven miles of unpatched paths, and another seven miles of paved trails. The garden is great for tours and events between 9 AM and 7 PM. It is a beautiful place for families, including young children, who can enjoy the Children’s Garden and the Butterfly House.
Selden Market is another popular destination in downtown Norfolk, where people go to experience and enjoy new concepts in fashion, cuisine, and coffee, among others. Visit places like the Vessel Craft Coffee and Pure Lagos for African art galleries. Selden Market offers many more than art, food, and coffee because it promotes cultural diversity.
We can’t forget the Ocean View and East Beach, which offer residents and visitors stunning views and exciting recreational activities. Some popular activities include fishing, kayaking, sailing, and swimming. You will relax as you check the beach parks for festivals and live music performances. There are plenty of recreational and outdoor activities in the city, and you will never be bored.
Norfolk is situated in the southeastern portion of Virginia, at the Chesapeake Bay and Elizabeth River junction. Norfolk surrounds the Hampton Roads natural harbor at the mouth of Chesapeake Bay. It is one of the largest cities among the nine cities and seven counties that make up the Hampton Roads metro area. Elizabeth River borders the city to the west and the Chesapeake Bay to the north. Norfolk shares land borders with the independent cities of Chesapeake to the south and Virginia Beach to the east. Additionally, multiple water bodies surround the area, with miles of an extensive bayfront resort property and extensive riverfront property.
Norfolk has over 240,000 people, making it one of the most populated cities in Virginia and the United States in general. The city spans over 96 square miles, with a population density of 4,509 individuals per square mile. The city had had a larger population in the past when it reached its peak in 1970 with 307,000 residents. About 7% of the residents are foreign-born, and economic growth attracts investors to the city.
The median age in the city is 30 years, and the median household income is $72,315, which is higher than the national average. Less than half, 43%, of the housing units are owner-occupied, with a median house value of $206,700. The median rental cost in the city is $1,059 monthly, making Norfolk an affordable place to stay.
Norfolk is a multicultural community with five dominant ethnic groups. Whites of non-Hispanic origin make up about 43% of the population, while African Americans account for 41% of the residents. Other minority groups include 8% Hispanics, 3% Asians, and few representations of Native Americans and people of two or more races.
Arts in Norfolk
Arts in Norfolk
Norfolk has a thriving art community featuring studios, performance venues, and galleries that attract thousands of people. For instance, Norfolk has some of the best live performances in Virginia. Platforms such as the Harrison Opera house, Wells Theater, and Attucks Theater offer some of the best performances in the city. Such venues have limitless opportunities to enrich your creative spirit.
Norfolk’s art community has also grown because of art museums and Chrysler Hall, the city’s downtown performing arts center. Chrysler Hall is home to the Virginia Symphony and touring Broadway shows or the Norfolk Forum lecture series. The Virginia Opera is home-based in the city. The Chrysler Museum of Art is one of the top 20 museums in the United States.
The New York Times affirms that the Chrysler Museum of Art is the finest in Virginia, and it plays a significant role in the city’s art community. Its notable features include an extensive glass collection, American neoclassical marble sculptures, and the 1792 Moses Myers House. The museum also features 50 galleries, catering facilities, and a restaurant.
Norfolk is the cultural and entertainment heart of the Hampton Roads region, offering events, performing arts, live music, yearly festivals, and parades. Nauticus, a maritime-themed science center and museum on the downtown waterfront, features exhibits, interactive theaters, and educational programs.
Schools in Norfolk
Schools in Norfolk
The Norfolk City Public Schools District serves the public school system in the city. The district has 34 elementary schools, nine middle schools, and five high schools. Moreover, the city is home to nine special-purpose schools. The district performs well, and Norfolk Public Schools are known to demonstrate overall performance improvements and achieve equity. The city is also home to numerous private schools, secular or religious-affiliated. Norfolk Academy is the oldest private school in the city, and it started its operation in 1728. Other schools include Trinity Lutheran School, Norfolk Christian School, and Alliance Christian School. Norfolk is home to some of the best schools in Virginia. The city has three public universities and one private, which serve a majority of the students in the region. Norfolk is also home to a community college campus in the downtown area. Other notable institutions include the Eastern Virginia Medical School and Governor’s School for the Arts, which hosts classes and performances at the Wells Theater.
Norfolk is one of the oldest independent cities in the Commonwealth of Virginia. It is the historical, cultural, urban, and financial center of the Hampton Roads metropolitan area, influencing the city’s economic growth. Its strategic location has also influenced the significant growth of the real estate market in the region. The city’s long history as a strategic military and transportation hub has led to a stable job market and economic development, which makes the Norfolk, VA real estate market suitable for most, if not all, American investors. Come to Norfolk and make it home before the cost of real estate skyrockets.
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