Option one would be to restore the hotel as is. Option two: restore it and add residential units. An

Virginia Beach developer Bruce Thompson has put in a bid to buy the Old Cavalier Hotel and its sister hotel across the street on Atlantic Avenue. Thompson told WAVY.com he wants to preserve the Cavalier's history, but it might be too costly for him.
Now, the future of the Old Cavalier Hotel and it's newer addition across the street are uncertain. Thompson recently proposed to buy  the properties for $35 million and is looking at three options for its future.
Option one would be to restore the hotel as is. Option two: restore it and add residential units. And option three would involve tearing down the hotel and building a time share and hotel to attract tourists.
"I think it would be unfortunate for the people that live down here," Virginia Beach resident Cara Dozier said. "Residents are more secluded here, and they have this part of the beach to themselves. The boardwalk is where the tourists are."
The City of Virginia Beach has created a task force to help preserve the hotel. They are offering incentives like tax credits, and economic development grants to encourage the buyer to save the hotel.
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