Gravity on 400, an apartment complex that opened in the fall of 2024 in Norfolk, Virginia, is bringing more people into the city’s downtown and Waterside District.
The 272-unit project at 400 Waterside Drive was developed by locally based Marathon Development Group on a former city-owned parking lot. Marathon also converted the adjoining 21-story Icon office building into 269 apartments in 2018. A panel of industry judges familiar with the area saluted Marathon Development and its Gravity on 400 project with a 2025 CoStar Impact Award as multifamily development of the year for the Hampton Roads market.
The Waterside District is the area of downtown adjacent to the Elizabeth River. Among the area's highlights are Nauticus, a maritime museum that includes a retired U.S. battleship; the Norfolk Tides minor league baseball stadium; and several restaurants and cafes.
Marathon Development began construction on the apartment development in 2021 as multifamily activity boomed in Hampton Roads during the pandemic. But groundbreakings have recently dropped to their lowest point in a decade, and development opportunities are somewhat limited by natural barriers in the coastal cities of Norfolk and nearby Virginia Beach.
About the Project: The six-story building includes 140 one-bedroom units, 90 studios and 33 two-bedroom units, along with a handful of family-sized apartments. Amenities include an outdoor pool and adjacent fire pit a fitness center, and an underground parking garage.
What the Judges Said: "These new apartments will bring more residents to downtown Norfolk which will be helpful to the economy," said John Duffy, vice president of Cushman & Wakefield | Thalhimer.
They Made It Happen: Frank Gadams, president and owner, and chief operating officer Raffaele Allen of Marathon Development Group were key players in the development project.
CoStar Market Manager Christian Taylor contributed to this report.