Greater Portsmouth Development Corporation
About half of Portsmouth’s land area is exempt from city taxes, placing an unusually large burden on the city’s businesses and homeowners. To address this, the Portsmouth Partnership combined forces in 1997 with the City of Portsmouth and the Portsmouth Redevelopment and Housing Authority to form the Greater Portsmouth Development Corporation (GPDC), a 501c3 organization with the talent, financial leverage, and tax advantages needed to acquire, control and market under-utilized but strategically locted properties throughout the city. While GPDC success stories such as Roger Brown’s Restaurant and Sports Bar and the Dinwiddie Hotel are located in Portsmouth’s historic Olde Towne district, other projects include the Victory Crossing retail development, located adjacent to the newly-relocated Tidewater Community College campus, and Chick Fil A on Frederick Boulevard.
Since its founding in 1997, the GPDC’s efforts have produced over 1,000 jobs and $25,000,000 in tax revenue for the City of Portsmouth.