Here’s a recap of the top stories for the week of May 30, 2025:
Henrico County reignites stalled GreenCity development with formal bidding process
Reported By BizSense’s Jonathan Spiers
Henrico officials are moving forward with a promise to solicit new developers for the county's desired arena-anchored district, despite multiple ongoing legal battles.
The county’s formal request for interest invites developers to declare their intent to rework the 93-acre Best Products property at Interstate 95 and Parham Road. Potential developers, arena operators and other interested parties have until July 28 to reply to the request, according to a statement from the county.
The RFI comes a month later than Henrico had originally planned; legal disputes between the county’s Economic Development Authority, planned arena operators ASM Global and GreenCity’s former development partners contributed to the delay.
Residential real estate firm moves back to Richmond after a seven-year absence
Reported by BizSense’s Jonathan Spiers
Engel & Völkers, a global real estate firm based in Germany, is re-entering the local market, expanding on the group’s existing presence in the DC metro area.
The group, which has over 300 locations in the US and over 1,000 worldwide, is opening an office at 3101 Elwood Ave. in Carytown. The plan is to open the new office on July 17.
Engel & Völkers was previously affiliated with Select Properties of Virginia, which operated as an Richmond outpost from 2015 to 2018.
Local concrete waterproofing company expands into international markets
Reported by BizSense's Jonathan Spiers
Henrico-based waterproofing company Alchemco is expanding its foothold in Southeast Asia, with an eye on Indonesia.
Founder Mario Baggio moved to Richmond in 2016 from Rio de Janeiro, where he had a distribution business that sold waterproofing products. Alchemco, which Baggio said has about 100 salespeople in the US, already had production facilities in Texas, Minnesota, Brazil and Malaysia.
Baggio said Alchemco’s products have been used by the Virginia Military Institute and several local agencies, including the Virginia Department of Transportation.
