Chesterfield 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 Authority (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 parcels straddling Genito Rd., is currently zoned for General Business (C-5) uses. The land purchase is part of a plan to expand the nearby River City Sportsplex and attract complementary 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 maximize 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 million 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 affiliations with the county’s Parks and Recreation Department.
“The River City Sportsplex is a vital tourism asset to the region and the county. The purchase of Southside Speedway presents an opportunity to continue to increase the footprint of the Sportsplex while honoring 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 destination with the added benefit of spurring additional development in this strategic location in Clover Hill.”
The vision for the property includes a mix of uses that are likely to incorporate public facilities, retail, and services that will be used by visitors to River City Sportsplex as well as residents in the surrounding area.