After the collapse of a previous development deal, Henrico is once again looking for proposals to transform the former Best Products headquarters into a mixed-use development anchored by an arena. 

The county plans to issue a formal “request for interest” in later this monthl, inviting developers to submit ideas for the project, which will focus on entertainment and tourism.

A committee, made up of representatives from the Henrico Economic Development Authority, Henrico Sports & Entertainment Authority, and other county officials, will review submissions for 45 days before forwarding a recommendation to the Board of Supervisors.

The move comes after the original GreenCity project—intended to be a $2.3 billion, mixed-use development with an arena—fell through when the development team was unable to complete its purchase of the 93-acre property. Henrico plans to repurchase the land by April 15.

“Henrico County is eager to attract a new partner or partners that are proven, competent and capitalized to deliver on what’s clearly a once-in-a-lifetime development opportunity,” County Manager John A. Vithoulkas said. “This location—along two major interstates—is perfectly suited for a large arena, and our region is starving for a venue to host major concerts, sporting events and other family entertainment.”

Vithoulkas emphasized the county already has begun preparing the site, including extending Magellan Parkway across I-95, expanding water and sewer infrastructure and working on the Fall Line Trail.

Henrico will require submissions to include a firm development timeline, financing for the first phase and the inclusion of full-service hotels and a privately financed arena through a community development authority.