HENRICO COUNTY, Va. (WRIC) — The Henrico County Economic Development Authority’s Board of Directors has voted to purchase a 110-acre property for the county’s GreenCity project, an eco-friendly mixed use development with retail, offices, homes and a 17,000-seat arena.
According to a release from the county, the land will be purchased by the county from the Commonwealth Foundation for Cancer Research for $35.1 million and then sold to Scott Farm Partners LLC, who will develop the residential portion of the project, as well as an 80-acre park.
“With the EDA’s votes today, Henrico and its partners are another step closer to fulfilling the vision for GreenCity as the largest and most consequential development in our county’s history,” EDA Executive Director Anthony J. Romanello said. “It will generate tremendous opportunities and economic benefits for Henrico and our residents for decades to come.”
The GreenCity project, which will be located north of East Parham Road between Interstates 95 and 295, was initially announced in late 2020 as a mixed-use development which will include parks, trails, open space, about 2 million square-feet of office space and 2,400 residential units.
The focal point of the project, the 17,000-seat arena, will be paid for mostly by bonds issued by the county and will be managed by ASM Global.