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ASM Global partners on arena set to be ‘greenest’ in US

ASM Global are partnering on the development and operation of the proposed 17,000-seat GreenCity Arena in Virginia, planned to be the greenest venue in the US.

The Henrico County venue will be designed for touring concerts, family shows, sports and tournaments, and will be a central feature of the $2.3 billion GreenCity ‘eco-district’.

Henrico first announced GreenCity in December 2020 as a mixed-use development featuring office, residential, retail and hotel uses designed to high-sustainability standards as an eco-district. The arena is being planned as a net-zero energy project with additional design features and practices that developers believe will make it the greenest arena in the nation.

“What we wanted in an arena-development partner is someone that also understood district programming,” says GreenCity Partners principal Michael Hallmark. “The arena may well be the main attraction, but GreenCity is much more.”

“A growing list of touring artists as well as corporate sponsors are viewing climate change action strategies as key factors in their decision process. They can go anywhere. We want them to come here,” Hallmark said. “Developing science-based targets and net-zero goals is just good business.”

“GreenCity offers tremendous synergies for the talent we hope to attract”

The arena construction will be largely paid for by bonds issued through the GreenCity Community Development Authority, which was established by the Henrico Board of Supervisors on 24 January. The CDA will be overseen by a separate board. JPMorgan Chase & Co. is expected to lead the underwriting effort.

The arena site, located along Interstate 95 between East Parham Road and Interstate 295, is seen as the best location for a major arena in Virginia.

ASM Global executive VP of development Liam Thornton says: “We believe this location is optimal within the greater region, as the I-95 corridor connects touring shows from Boston to Miami. It will be a tremendous venue for us as well as Central Virginia. Additionally, the extensive work already done by Henrico County in terms of completing planning approvals, the development agreement and the formation of the CDA demonstrates their track record of successfully partnering with the private sector on consequential projects.”

ASM global president and CEO Ron Bension adds: “It’s a beautiful development plan, impressive at every level. GreenCity offers tremendous synergies for the talent we hope to attract as well as the corporate partners we believe will be eager to be a part of this exciting project.”

Design for the arena will be finalised in the autumn. Construction is expected to begin in early 2024 with completion in 2026.


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