Fountain Plaza One at City Center at Oyster Point overlooks a 5-acre (2-hectare) water plaza and is structurally integrated with a 1,087-car parking garage.

Oyster Point of Newport News is the de facto central business district of the Virginia Peninsula (the northern sub-market of the Norfolk-Virginia Beach-Newport News MSA). Oyster Point is a planned business community that has replaced the region's traditional downtowns as the center of commerce. This mixed-use business park has nearly 2 million sq. ft. (185,800 sq. m.) of office space and more than 2.2 million sq. ft. (204,380 sq. m.) of industrial, research and flex space. Additionally more than 700,000 sq. ft. (65,030 sq. m.) of office space and 1 million sq. ft. (92,900 sq. m.) of industrial/research space surround the business park, plus 3 million sq. ft. (278,700 sq. m.) of retail space. Nearby research space includes the 122,000-sq.-ft. (11,334-sq.-m.) seven-story Applied Research Center, developed by the City's Economic Development Authority next to Jefferson Lab, a world-class particle beam accelerator and leading developer of photonics technology.
        Oyster Point is located in mid-City Newport News and in the middle of the Virginia Peninsula. In fact, the geographic center of population and the center of income distribution both occur in Oyster Point. Within this area, more than 13,500 people work in more than 625 companies. When fully developed, the number of jobs in the area is expected to grow to more than 22,500. Additionally, there are 4,000 people employed in the adjoining "Cultural Corridor," which stretches from Port Warwick – a residentially-based, mixed use, new urbanist community – to Christopher Newport University. Employment in this area is expected to exceed 5,000 within a few years. Another 2,000 work in the Patrick Henry retail corridor – the Peninsula's retail downtown – just north of Oyster Point.
        Oyster Point is directly served by two I-64 interchanges, with a third interchange providing alternative access from the north. The intersection of major east-west and north-south traffic thoroughfares makes Oyster Point the Virginia Peninsula's central-place from a transportation standpoint. These arterials are all six-laned to provide maximum ease of traffic flow.
        Oyster Point's role as the Peninsula's central business district has evolved since its inception in the 1970s as an industrial park. Now, five of the region's seven major banks and one of its largest credit unions have their district headquarters or commercial loan departments in Oyster Point. The Peninsula's three major stock brokerages all have their offices in Oyster Point. Nine of the eleven largest accounting firms and six of the eight largest law firms on the Peninsula are located in Oyster Point. Half of the Peninsula's engineering consulting firms, two-thirds of its personnel supply agencies and seven university branch campuses or technical schools are located in Oyster Point.
        Oyster Point also provides the necessary amenities of a core urban area, with planned retail and hotel development at City Center soon adding to the mix. One of the Lower Peninsula's two luxury class hotels – an Omni – is located in Oyster Point. Seventeen other hotels or extended stay motels are located within or in close proximity to Oyster Point. Numerous restaurants serve Oyster Point.
        While firmly established as the Class A business location of the Peninsula, Oyster Point continues to evolve toward still higher urban density with the ongoing development of City Center at Oyster Point. City Center at Oyster Point is an urban-scale, mixed use commercial development located in the middle of Oyster Point of Newport News. City Center at Oyster Point is being developed around a fountain plaza water feature and upscale infrastructure put in place by the City of Newport News. Newport News Town Center, LLC, is the developer, in partnership with the City and its Economic Development Authority. The initial phase of the development has more than 320,000 sq. ft. (29,728 sq. m.) of class A office and office/retail space (existing or nearing completion) and 359 urban-scale, high quality residential units. All this is supported by a 1,087-car parking garage that provides free parking. Future phases will include more than 200,000 sq. ft. (18,580 sq. m.) of retail, restaurant and entertainment; hotels and a conference center; and an additional 700,000 sq. ft. (65,030 sq. m.) of class A office space.
        In summary, Oyster Point is the central business district of the Virginia Peninsula. It is the home of most of the region's large financial and professional office firms. It contains hotel and restaurant amenities, with shopping and theaters nearby. It is a central place geographically and by virtue of the transportation network that serves it. Furthermore, there is a growing research and educational presence at Oyster Point fostered by the pro-active and cooperative efforts of state, local and federal governments. Oyster Point is the future of the Virginia Peninsula, and the future entails the conscious nurturing of higher densities of the built environment through government planning and private-sector investment.