ASM Global joins ‘greenest venue in the US’ project
GreenCity Partners and venue management company ASM Global have entered into an agreement for the development and operation of the proposed GreenCity Arena, which is planned to be the greenest venue in the US.
The venue will be the centrepiece of a $2.3bn private, mixed-use eco-district development, and will be used for major concerts, sporting events and other entertainment.
The arena will be located in Henrico County in Virginia, which first announced the GreenCity development in December 2020. The project will feature office, residential, retail and hotel offerings designed to high-sustainability standards.
GreenCity Arena is also being planned as a net-zero project with additional design features and practices that developers believe will make it the greenest arena in the US.
Michael Hallmark, GreenCity Partners principal, said: “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. Developing science-based targets and net-zero goals is just good business.”
"A growing list of touring artists as well as corporate sponsors are viewing climate change action strategies as key factors in their decision process."
The construction of the arena will largely be funded by bonds issued through the GreenCity Community Development Authority, which was established by the Henrico Board of Supervisor in January.
The mixed-use nature of the development, the creation of the district around the arena and its focus on sustainability was part of the draw for ASM Global.
Ron Bension, president and chief executive of ASM Global, said: “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.”
The designs for the arena will be finalised in the autumn and construction is expected to take place in early 2024, with completion set for 2026.