Henrico reclaims Best Products property for arena project
VENN
HENRICO COUNTY, Va. (WRIC) -- Henrico County has officially reclaimed the 93-acre Best Products property on Thursday, aiming to move forward with a new plan for "an arena-anchored development" along Interstate 95, officials said.
The land transfer of the site, rebranded as "Best Products Reimagined," was formally recorded on Thursday, Sept. 11, in Henrico Circuit Court. The move comes after the county terminated its agreement with GreenCity developers in March.
In May, the county formally released a request for interest (RFI), inviting developers, arena operators and other potential partners to submit proposals to transform the site.
“We’re extremely pleased to receive control of one of the premier development sites along the East Coast and are eager to take the next steps to fulfill our vision for a major mixed-use development that will be centered around entertainment and tourism and will include an arena for touring concerts and sporting events,” County Manager John A. Vithoulkas said. “The land transfer aligns with our timeline to have a new development team identified by the end of this calendar year.”
In March, the county originally gave GreenCity developers a last-minute deadline to make a $5.2 million payment for the land, leading Henrico to repurchase the property.
The "Best Products Reimagined" concept was based on an already-approved master plan from May. It includes 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.
A committee led by the county manager and including representatives of the EDA, the Henrico Sports & Entertainment Authority and other offices is reviewing multiple responses to an RFI as of the time of reporting.
The committee is expected to present its findings and identify development partners to the Board of Supervisors in late 2025.
The planned property purchase for the GreenCity Arena was announced back in 2020, with plans to include a 17,000-seat arena that aims to bring tourism and be eco-friendly.
