Henrico County releases ‘request for interest’ for arena-anchored development at Best Products site

HENRICO COUNTY, Va. (WRIC) -- Henrico County has officially released a “Request for Interest” (RFI) for an arena-anchored development at the Best Products site. This comes after the county reacquired the property from GreenCity developers.

On Tuesday, May 27, Henrico County announced the official release of the RFI for a mixed-use development on the property, located along Interstates 95 and 295 near East Parham Road. The move is expected to create as many as 8,000 jobs in the area, according to a release from the couty.

This comes after GreenCity developers began a process to transfer the $2.3 million Best Products property back to Henrico County after "the parties have mutually agreed to go in a different direction" in March.

“Henrico County is ready to engage with the development community to select a partner or partners with the expertise, vision and resources to transform one of the mid-Atlantic’s premier sites into a world-class entertainment destination for residents and visitors alike,” County Manager John A. Vithoulkas said.

“Our region and its 1.3 million residents are yearning for a modern arena that can host major sporting events, concerts and other entertainment year-round. This location – along interstates 95 and 295 and easily accessible from Interstate 64 – is ideal, and the time is right to bring this kind of transformative development to the heart of Henrico,” he continued.

The 93-acre property, rebranding as "Best Products Reimagined," following the "Request for Interest." It approved 1.9 million square feet of office space, 135,000 square feet of retail space, three hotels with 600 rooms apiece, 2,138 residential units and parks and other green spaces.

The RFI also includes recommendations for less office space and "an adjustment to the arena’s location to maximize its visibility and connectivity within the development," according to the county.

“With development and tourism booming across Henrico and the region, it’s time to unlock the tremendous potential of the Best Products Reimagined site,” said Dennis Bickmeier, executive director of the Henrico Sports & Entertainment Authority.

“From the county’s perspective, the ingredients for success – from major utility and transportation improvements to the arena’s financing mechanism – are in place and ready to go. What we need now are partners who can help us turn this incredible vision into a reality,” Bickmeier said. 

Developers, arena operators and other partners have until Monday, July 28, to submit formal responses.

Prospective responders with questions about the RFI are encouraged to contact Purchasing Director Oscar Knott at kno008@henrico.gov.