Advertisement

Header Utility Menu

  • Subscribe
  • Advertise
  • Contact Us
  • Events

LinkedIn Facebook Twitter Instagram Get Our App

  • Login

Virginia Business

Mobile Menu

  • Issues
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Advertisement

Header Primary Menu

  • Issues
    • February 2023
    • January 2023
    • December 2022
    • November 2022
    • October 2022
    • Issues Archive
  • Industries
    • Banking/Finances
    • Law
    • Real Estate
    • Economic Development
    • Education
    • Energy/Green
    • Federal Contracting
    • Government
    • Healthcare
    • Hotels/Tourism
    • Insurance
    • Ports/Trade
    • Small Business
    • Startups
    • Technology
    • Transportation
  • Regions
    • Central Virginia
    • Eastern Virginia
    • Northern Virginia
    • Roanoke/New River Valley
    • Shenandoah Valley
    • Southern Virginia
    • Southwest Virginia
  • Reports
    • Best Places to Work
    • Business Person of the Year
    • CEO Pay
    • COVID-19
    • Generous Virginians Project
    • Legal Elite
    • Most Influential Virginians
    • Maritime Guide
    • Site Locator
    • The Big Book
    • Virginia CFO Awards
  • Company News
    • For the Record
    • People
  • Opinion
  • Lists
  • Awards/Events
    • 2022 Virginia Business Political Roundtable
    • Women in Leadership
    • Diversity Leadership Series
    • Virginia 500
    • Legal Elite
    • CFO Awards
    • Big Book of Lists
    • 100 People To Meet
    • Best Places To Work
  • Virginia 500
    • Read The Issue
    • Power Up Virginia 500
    • Buy an award plaque
    • Suggest execs for 2023

Home News Regions GreenCity arena hopes to draw sports, music acts

GreenCity arena hopes to draw sports, music acts

Published August 30, 2021 by Rich Griset

Developers of the Henrico County ecodistrict see GreenCity’s arena as a home for hockey and basketball. Rendering courtesy GreenCity
Developers of the Henrico County ecodistrict see GreenCity’s arena as a home for hockey and basketball. Rendering courtesy GreenCity

When developers unsuccessfully pitched Navy Hill, a $1.5 billion mixed-use project and arena that sought to reinvent Richmond’s downtown, they posed a question: If a major draw like Beyoncé came to town, where would she perform?

Now those same developers are aiming to host artists like Justin Timberlake, Green Day and John Legend at GreenCity, a proposed privately funded $2.3 billion mixed-use development in Henrico County that will include a 17,000-seat arena.

Capital City Partners LLC’s Michael Hallmark says that GreenCity’s status as an ecodistrict — a sustainable development with a reduced ecological footprint — will draw interest from music acts that have pledged to make their tours ecofriendly.

Hallmark also touts GreenCity’s location along Interstate 95, saying musicians will no longer have to make doglegs to Charlottesville or Hampton Roads on their tours.

“For the promoters, they think that’s an ideal site,” says Hallmark, adding that the $245 million arena would be large enough for major national tours. The arena could also serve as a home for both minor league hockey and basketball teams; Hallmark hopes it may appeal to NCAA basketball tournaments as well.

“It’s a game changer,” says Jack Berry, president and CEO of Richmond Region Tourism, noting GreenCity’s sporting events and massive conferences would boost regional hotel occupancy. “It will absolutely be a huge investment into tourism for us.”

Dan Schmitt, chairman of Henrico’s Board of Supervisors, says the venue will “serve community needs as well,” and can be sectioned off for smaller events: “We’ve been real clear about asking for flexibility within the facility.”

GreenCity is expected to have a cumulative economic impact of $387 million in labor income and $751.1 million in overall economic output during its 11-year buildout, according to a study by Glen Allen-based Mangum Economics. At full buildout, GreenCity’s commercial businesses are expected to support roughly 8,000 jobs and $600 million in labor income.

Conservatively, Mangum estimates that GreenCity should generate cumulative net tax revenue of $80.5 million for Henrico by 2034 after accounting for the cost of county infrastructure and services.

“This development will be our principal taxpayer in the county, and we have some pretty big taxpayers,” says Henrico County Manager John Vithoulkas.

As of early August, the project’s 204-acre site on the former Best Products headquarters campus was undergoing rezoning; Hallmark says the arena should be completed by early 2025.

Subscribe to Virginia Business. Get our daily e-newsletter.

Related Stories

Virginia Business logo

Henrico office building sells for $6.3M

Located across from Henrico Doctors' Hospital, the Campbell Building is occupied primarily by health care tenants.

Chesterfield EDA eyes mixed-use project at Spring Rock Green

County supervisors will decide on $16M acquisition

Virginia Business logo

American Family Fitness building in Henrico sells for $4.1M

The building is currently leased to American Family Fitness.

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Advertisement

Advertisement

Trending

13th annual Best Places to Work

Making strides

It’s back!

After the crisis

Fort Monroe development moving forward

Sponsored Stories

Working at Pinnacle Financial Partners

What Logistics issues will have the biggest impact on you in 2023?

In the New Year, Aim for Better Cybersecurity

4 innovative ways to create capacity

WHERE IS THE SUPPLY CHAIN WHEN YOU NEED IT?

P.A.I.N.T. Your Financial Mountain

5 Benefits of Treasury Management Services from Atlantic Union Bank

Blazing trails in the digital landscape

Get Virginia Business directly on your tablet or in your mailbox!

Subscribe to Virginia Business

Advertisement

Advertisement

Footer Primary Menu

  • virginiabusiness.com
  • Subscribe
  • Advertise
  • About Us
  • Contact Us

Footer Secondary Menu

  • Industries
  • Regions
  • Reports
  • Company News
  • Events

Sign Up For Our Newsletter

Sign Up

LinkedIn Facebook Twitter Instagram Get Our App

Privacy Policy Cookie Policy

Footer Utility Menu

Copyright © 2023 Virginia Business. All rights reserved.

Site Maintained by TechArk