An arena, 2.2 million square feet of office space, 280,000 square feet of retail, two hotels, and up to 2,400 residential units are planned at I-95 and Parham Road.
Father-and-son developers Mark and Matt Sowers paid $4.5 million for four lots that were part of the 1,300-acre Roseland development envisioned by Mark’s late brother.
Henrico County positions Best Products site for GreenCity deal
Images courtesy of GreenCity LLC)
With a pair of procedural approvals, Henrico County has taken its first step down the proverbial yellow brick road to GreenCity.
As they said they would do when they announced the $2.3 billion arena-anchored development in December, Henrico supervisors last week approved a transfer of the county-owned Best Products site to Henrico’s economic development authority, which will negotiate a sale of the 92-acre site to developer GreenCity LLC.
The EDA board voted two days later to accept the transfer, directing Executive Director Anthony Romanello to proceed with a memorandum of agreement for disposition of the property. The EDA would then begin negotiations, though the county has already said its preferred sale price: $6.2 million, the amount it paid for the property in 2011.