Connect with us
[adrotate banner="51"]

Business

Henrico endorses proposed $2.3 billion GreenCity ‘ecodistrict’ development at Parham, I-95, I-295

The $2.3 billion ‘ecodistrict’ is planned around former Best Products headquarters; the project would generate nearly 2.3 million square feet of office and retail space, 2,400 housing units, 2 hotels, a 17,000-seat arena at no financial risk to taxpayers.

RVAHub Staff

Published

on

Henrico County officials are endorsing a developer’s vision for GreenCity, a $2.3 billion private, mixed-use “ecodistrict” development that would promote economic development and environmental sustainability as well as include a 17,000-seat arena for major concerts, sporting events, and other entertainment.

Officials with Henrico and GreenCity LLC announced plans for the development today at the county-owned former headquarters of Best Products, which is northeast of East Parham Road’s interchange with Interstate 95 and where the 250-acre community would extend north to Interstate 295.

“We are thrilled to endorse this bold, visionary opportunity as it is in sync with everything that Henrico County stands for and has been working hard to achieve – inclusion, resiliency, mobility, innovation, and job growth,” County Manager John A. Vithoulkas said. “We’re talking about a new kind of community that is intricately planned, inclusive for all, and thoughtfully designed to be not only livable but also to set new standards for environmental sustainability. GreenCity will be a community that preserves, embraces, and showcases open space, and it will drive economic development and tourism in new and exciting ways while remaining respectful to county taxpayers. The arena will put this region back on the entertainment map. It also will provide tremendous benefits to our county while creating no financial risk to our taxpayers.”

Envisioned as an “ecodistrict,” GreenCity would be designed around principles that promote environmental sustainability, civic engagement, and inclusion. The development would integrate extensive parks, trails, and open spaces among about 2 million square feet of office space, 280,000 square feet of retail space, 2,400 housing units, two hotels, and a $250 million arena.

The arena is planned to be the greenest arena venue in North America and would accommodate up to 17,000 patrons in flexible seating configurations to accommodate touring concerts, family shows, and potentially new sports teams, including ECHL Hockey and G-League Basketball.

The former Best Products headquarters, including its iconic Art-Deco eagle statues, would be renovated and repurposed to Living Building Challenge standards, which features the world’s highest level of sustainability design and operations. “Living buildings” provide net-positive energy and water, and produce zero waste.

The developers anticipate a formal submission of plans and an application for rezoning to the UMU, or urban mixed-use, classification in early 2021.

In anticipation of those filings, the Board of Supervisors will consider at its Jan. 26 regular meeting a proposed transfer of the Best Products site to the county’s Economic Development Authority (EDA). The EDA anticipates entering into an agreement to convey the land to the developers pending approval of the rezoning. The developers would then finalize the purchase of the land at $6.2 million – the amount Henrico paid when it bought the property in 2011.

GreenCity would seek the creation of a community development authority, or CDA, to finance the construction of the arena through a sale of bonds. Under the financing model, certain taxes generated onsite by the GreenCity development would be used to make debt payments over a period of 30 years. Once the debt is retired, all taxes generated by the development – an annual amount estimated at more than $20 million – would go to the county’s general fund.

Henrico officials expect to conduct a detailed review of the financial projections as part of its due diligence of the proposal.

“In Henrico, we have extensive experience with CDAs and understand how they can help deliver large-scale development projects that are rich with amenities and potentially transformative for the community,” Vithoulkas said. “CDAs have been used successfully in the development of Short Pump Town Center, White Oak Village, and Reynolds Crossing. Each of these projects either met or exceeded its revenue targets and now makes significant tax contributions that help us fund schools, public safety, and other core services.”

Comments

comments

Continue Reading
Advertisement

Business

New York Deli crowdfunding project to add Carytown’s first rooftop bar, outdoor movie theater, and event venue

The plans would see the one-story restaurant add a deck and dining options to their roof as well as a stage for events and a large projection screen upon which to show movies.

Avatar

Published

on

One of Richmond’s oldest restaurants has announced a new Kickstarter campaign they hope will help them become Carytown’s first rooftop bar and movie theater, and one of the few event spaces in the neighborhood. New York Deli, located at 2920 W. Cary Street, announced the campaign yesterday.

The plans would see the one-story restaurant add a deck and dining options to their roof as well as a stage for events and a large projection screen upon which to show movies.

The campaign has already raised $17,000 as of this writing; owners hope to raise $145,000 to cover construction costs in addition to a $25,000 downpayment made to a local construction company handling the project.

New York Deli is offering a range of incentives to supporters ranging from a date night dinner for two package all the way up to a catered event and full event venue rental that’s being pitched to brides and grooms to be who may have had to change their wedding plans during the pandemic.

If all goes to plan, the space should open in July. You can learn more about the project here.

Comments

comments

Continue Reading

Business

Mediterranean restaurant taking over former Urban Farmhouse spot in Scott’s Addition

The vacant space at 3031 Norfolk Street is being renovated for a planned July open date.

Avatar

Published

on

From Richmond BizSense:

One of the more prominent restaurant spaces in Scott’s Addition left vacant due to the pandemic has been snapped up by a pair of local industry veterans.

John Reynolds and Steve DeRaffele are preparing to open Pinky’s, a full-service Mediterranean restaurant in the former Urban Farmhouse space at 3031 Norfolk St.

Pinky’s menu will take influences from the entire Mediterranean region, while the restaurant’s name is a nod to DeRaffele’s late mother whose nickname was Pinky.

“I learned how to cook from her and want to make the kind of stuff I learned to make at home,” DeRaffele said. “Now I can bring people into our space and cook for them like I would if they were at my house.”

Continue reading here.

Comments

comments

Continue Reading

Arts & Entertainment

Weekly pop-up market coming to the Diamond every Saturday beginning April 10th

River City Festivals is partnering with The Richmond Flying Squirrels to present a new weekly Popup Market that will be held Saturdays at The Diamond in Richmond, beginning April 10th from 10 am-4 pm.

RVAHub Staff

Published

on

River City Festivals is partnering with The Richmond Flying Squirrels to present a new weekly Popup Market that will be held Saturdays at The Diamond in Richmond, beginning April 10th from 10 am-4 pm.

PopUp Market at The Diamond will feature dozens of rotating artisans, craft, and other local business vendors as well as food and dessert sales and beer and wine. Each week will showcase a new lineup of vendors including Woodworking, Art & Homemade, Activities & Games, Clothing, Jewelry & Accessories, Kitchen & Beverage, Beauty Supplies & Services, Pet & Pet Supplies, Kids Games & Activities, Desserts, Beer & Wine, Locally Grown Products, CBD, Non-Profit & Cause Based, and more, according to organizers.

The full lineup of participating vendors can be viewed at RiverCityFestivals.com. Local vendors and other businesses interested in participating can find more information and register at the same website.

PopUp Market at The Diamond will be held rain or shine in the “Blue Lot” directly next to The Diamond located at 3001 N. Arthur Ashe Blvd.

All COVID guidelines will be strictly adhered to according to the then-current requirements and guidelines.

The Richmond Flying Squirrels are the host organization for the PopUp Market, River City Festivals is the organizer and promoter, proceeds from the event will go towards Giving Local, helping to support small businesses.

Comments

comments

Continue Reading

Richmond Weather