Apologies for late reply. The Virginia Park apartments are just over a kilometre out of the Punta Limones town centre to the north, a bit further (ca. 1.2km) from the main town centre. I once stayed across the road from the apartments and they looked fine from the outside. Ironically the further out you are, the newer the places tend to be and vice versa. You can walk into town from the Virginia Park, but if you're out late pubbing or clubbing amd you've a sup taken, sure a taxi home between four of you wont break the bank. There are late pubs and at least one late (i.e.4 am-ish) disco around Punta Limones.
The Irish Anvil Bar is well worth a look (I have no financial connection with it!) a great bar with live music, wonderful staff and great craic and the best guinness in the Canaries; the grub is pretty decent too in a plain and simple sort of way. (There are those who practically spend their entire holiday there - but I'm not recommending you go that far!)
Playa Blanca is predominatly a family resort but there is a fair variety of night life. Some of the larger hotels (e.g. Rubicon Palace) not far from the Virginia) have what I'd say were quite classy piano bars and that sort of thing. Having seen just about all of the island I think Playa Blanca is by far the best resort.
If you want a wilder "young" night out (birthday bash!) at the weekend you can always bus it up to Puerto Del Carmen ("Caesar's" has a good reputation) and taxi it home (about 20 Euro between four).
If you want a sneak preview of PB you can look at Eric Gray's website at http://www.graysworld.co.uk
which has photos: on the Homepage under Playa Blanca you will find a Street Map - Virginia Apts are in the street called "Francia" just below the football ground. Or you can leave an e-mail address and I will email you a copy of the map showing you where the apartments are. Anything else, dont hesitate to post again.
I am sure you will all enjoy your stay there, at least it'll be better than staying at home and freezing - it was 25c there yesterday!