Virginia Beach Considers $17.94 Million Dragas Property Sale
Virginia Beach Public UtilitiesUtility District · Virginia Beach, VA- Disclosed value
- $17,940,000 purchase price
- From agenda
- Document date
- Aug 11, 2026
The 30-second brief
Virginia Beach City Council is scheduled to consider authorizing a Purchase and Development Agreement with Dragas Associates, Inc. for approximately 341.4 acres at Virginia Beach National Golf Course. The proposed purchase price is $17.94 million, with settlement due within 30 days after required permits and approvals; the term sheet also preserves a 99-year repurchase option for the City.
Dragas Associates Inc holds this contract with Virginia Beach Public Utilities. Its other public contracts on record include work for City of Virginia Beach and City of Chesapeake.
Term as filed: Settlement on or before 30 days after the Developer receives all required local, state, and federal permits and approvals.
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Contract details
- Amount
- $17,940,000 purchase price
- Document date
- August 11, 2026
- Term
- Settlement on or before 30 days after the Developer receives all required local, state, and federal permits and approvals
- Vendor
- Dragas Associates Inc
- Source document
- City of Virginia Beach Agenda August 11, 2026 (Agenda)
Dragas Associates Inc's other public contracts
More Virginia Beach Public Utilities contracts
Questions about this contract
Who was awarded the government contract by Virginia Beach Public Utilities?
Dragas Associates Inc was awarded this government contract by Virginia Beach Public Utilities, as recorded on August 11, 2026. The contract value is $17,940,000 purchase price.
How much is the Dragas Associates Inc contract with Virginia Beach Public Utilities worth?
The Dragas Associates Inc contract with Virginia Beach Public Utilities is valued at $17,940,000 purchase price.
What type of contract is this?
This is a government contract, documented as a agenda record.
Where was this contract approved?
This contract appears in City of Virginia Beach Agenda August 11, 2026 (Agenda), dated August 11, 2026 from Virginia Beach Public Utilities. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Dragas Associates Inc hold?
Dragas Associates Inc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is Virginia Beach Public Utilities currently buying?
Explore Virginia Beach Public Utilities's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.