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The development agreement with Markel | Eagle calls for the creation of a separate CDA to help finance initial work on the residential portion of the massive arena-anchored, mixed-use project.
One of the larger remaining pieces of the GreenCity puzzle is now in place for the massive arena-anchored development in the works in Henrico.
An arena, 2.2 million square feet of office space, 280,000 square feet of retail, two hotels, and up to 2,400 residential units are planned at I-95 and Parham Road.
The deal in Midlothian is the latest for the Glen Allen-based firm, which made the purchase through a recently formed real estate investment trust.
Father-and-son developers Mark and Matt Sowers paid $4.5 million for four lots that were part of the 1,300-acre Roseland development envisioned by Mark’s late brother.