HENRICO, Va. (WRIC) — Henrico announced a developer and arena operator on Monday for part of its ambitious GreenCity project, an eco-friendly mixed-use development at the north end of the county.

You can watch the a recording of the press conference below:

Plans for GreenCity were first announced in 2020, and on Monday, Henrico announced that ASM Global, a major entertainment management company, would take charge of the site’s sports and concert arena.

The proposed 17,000-seat arena — and associated shops and hotels — will serve as an anchor for the environmentally-focused concert, with representatives of ASM emphasizing the site’s proximity to Interstate 95 as a key draw for the venue.

“We believe that this is an optimal location within the greater region for a new arena,” said ASM VP Liam Thornton. “As the I-95 corridor connects touring shows from Boston to Miami.”

Represeantives of the development group behind the project also emphasized features like rainwater capture, waste reduction, renewable energy and organic composting that they hope will make the project uniquely sustainable.

“Most arenas in America are not that green,” said Michael Hallmark, a representative of GreenCity Partners. “We live in an age now where that is a fundamentally important issue.”

GreenCity is expected to attract $2.3 billion in investment for its array of 2,400 new homes, its 17,000 seat sports arena and concert venue and its integration of sustainable energy sources.

The project, which primarily consists of private development, will be located on 200 acres near the intersection of I-95 and East Parham Road. The plan, which has been in development for years, was approved in principle by the county board of supervisors last year.

While the arena was originally slated to be open by 2025 in a timeline for the project, the county now projects that construction will not be complete until 2026.