14A — July 23 - August 19, 2021 — DelMarVa — M id A tlantic Real Estate Journal
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Purchase creates opportunities for enhanced experiences at River City Sportsplex Chesterfield County EDA acquires former Southside Speedway property
hesterfield County, VA — At its meeting on June 23, 2021, the Chesterfield County Board of Supervisors approved the transfer of $5 million dollars to the Chesterfield County Economic Development Au- thority (EDA) . The funds will be used by the EDA to purchase the former Southside Speedway property at the intersection of Genito Rd. and Oak Lake Blvd.. The 47.139-acre property, which consists of three par- cels straddling Genito Rd., is currently zoned for General Business (C-5) uses. The land C
former Southside Speedway property
purchase is part of a plan to expand the nearby River City Sportsplex and attract comple- mentary uses along that section of Genito Rd. The purchase price for the property is $4.5 million. The strategy is to develop the property to enhance and maxi- mize the experience of visitors and county residents that visit or use River City Sportsplex. River City Sportsplex is the leading tourist draw in the region, bringing approximately 120,000 visitors and $56 mil- lion dollars in economic impact to the region annually. River City Sportsplex’s 12 synthetic turf fields also get considerable daily use by local sports organizations through af- filiations with the county’s Parks and Recreation Department. “The River City Sportsplex is a vital tourism asset to the region and the county. The pur- chase of Southside Speedway presents an opportunity to con- tinue to increase the footprint of the Sportsplex while honor- ing the history of a beloved local institution,” said Clover Hill District Supervisor Chris Winslow. “The closure and sale of the speedway presents a chance to continue to support River City as a tourist destina- tion with the added benefit of spurring additional develop- ment in this strategic location in Clover Hill.” The vision for the property includes a mix of uses that are likely to incorporate public fa- cilities, retail, and services that will be used by visitors to River City Sportsplex as well as resi- dents in the surrounding area. The EDA will work with the Planning Department, Parks and Recreation, the Planning Commission, and the Board of Supervisors on developing a mas- ter plan for the property. MAREJ
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