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Innsbrook Ascends as One of Nation’s Premier Live, Work, Play Destinations
2023-06-29
Undoubtedly, Innsbrook has been on a tear. The 630-acre mixed-used community that came to life in 1979 is stronger than ever. More than 500 companies and more than 28,000 employees are located here. It was recognized as a best place to live in America by Stacker for the second straight year, climbing 23 spots to claim a top 20 ranking in 2023. This may all seem serendipitous, but in Henrico, we don’t believe world-class locations happen by chance. They happen by design.
Making It Happen
Last April, the Henrico EDA appointed Wendy Miller as its first Manager of Placemaking. Her role is to ensure Henrico is reimagining and reinventing public spaces in ways that connect with a community undergoing astronomical growth. After all, more than 330,000 residents are choosing to live their best in Henrico, and according to the Demographics Research Group, that number is expected to surge by 26.4% in the next 30 years. Emerging from the pandemic, we noted a considerable demand for walkable neighborhoods, a vibrant outdoor scene, and a deep sense of place. As a result, one of our areas of focus became the revitalization of Innsbrook and the cultivation of its live, work, play community vibe.
Living It Up
The premier office park certainly has the “live” part down pat. Last September, the Massachusetts-based developer Northland acquired 22 acres to build a dynamic mixed-use development at Innsbrook’s North End. The area is zoned for up to 700 residential units, 55,000 square feet of retail space, and a hotel. Meanwhile, Seminole Trail Properties acquired an 11-office building portfolio from local developer Lingerfelt with the full intention of moving forward with the former owner’s plans for multifamily development. And let’s remember that homes are now available for lease at Metropolis. This new complex redefines apartment living with 8,000 square feet of amenity space, including a resort-style swimming pool, bocce courts, fitness center, rooftop lounge, bike storage, repair station, and even a pet spa.
Power Play
For those who enjoy activity and nature, Innsbrook is the place to be … or rather, play. It offers three stunning lakes and five miles of trails for those who enjoy green space and the great outdoors. When you want to unwind, there’s Sunset Yoga. When you want to rev it up, there are events like the annual Anthem Corporate Run. And when you want to cut loose, there’s Hurley’s Tavern, the Cheers-esque, no-frills bar that serves locally sourced beer and wine, comfort food, and loads of hospitality.
In the Zone
Knowing that Innsbrook offered “live” and “play” in spades, we focused on the “work” aspect that brings mixed-use communities to life. Of Henrico’s $25 billion gross annual product, Innsbrook companies contribute about $3 billion. The activity was there, but we asked ourselves how to keep businesses there and the economic activity going.
In response, Henrico launched the Innsbrook Technology Zone in 2022. The program offers eligible businesses building and permit fee waivers, flex spaces to accommodate the modern hybrid workplace, custom incentives, and more. Business professionals can collaborate directly with the Henrico EDA to tailor financial solutions specific to their business needs. This gives entrepreneurs and executives a chance to enjoy excellent financial footing to help fuel their innovation, all in a premier community that attracts and retains talent.
Growth Spurt
Our plan worked, companies are taking full advantage, and business is booming across all industries. EAB, a leading education research, technology, and marketing and enrollment solutions provider, announced it was moving operations to Innsbrook. This relocation means at least a $6 million investment and 200 more jobs for our community. Berkshire Hathaway, a subsidiary of Warren Buffet’s Berkshire Hathaway Energy, announced that it was relocating its headquarters here as well. Riverstone, a Class A general contracting and construction management firm, also moved its headquarters to the premier office park. In addition, Dominion Energy recently completed a $100 million upgrade of its technical center.
But businesses aren’t just relocating and renovating here. They’re succeeding here. Specialty insurer Richmond National recently announced it was nearly doubling its footprint in Innsbrook barely two years after its founding.
Gaining Momentum
After spending over a quarter of a century as an investment banker focused on the insurance industry, Richmond National President and CEO Joe Kavanagh always said he would like to run his own insurance business if he could put the right team together. In 2021, he made it happen. Richmond National underwrites specialized property, casualty, and professional liability products for small and midsize businesses. Kavanagh believes that the best way to control their business is to do everything in-house. Customers and stakeholders love his personalized service and quick response time in an industry where many opportunities have a short time frame. Belief in his business was so strong that he completed a $30 million funding round in April and added 7,200 square feet to his Innsbrook headquarters. Henrico bested Chicago and North Carolina to retain the business.
A Perfect Match
In Kavanagh’s words, keeping his business in our premier office park was an easy decision. The obvious first thing, beyond his deep adoration for the nearby Boychik’s Deli, was his profound respect for Henrico’s unmatched workforce and easy commute, one of the best in the nation.
“Here you have a vast talent pool of insurance and other business people,” Kavanagh said. “Members of our IT team have come from a wide range of other businesses in the area that are outside of the insurance industry. There are a number of good colleges and universities in Virginia – very close by – and we’ve been able to attract people right out of college … young talent who love where they work.”
“For what we’re doing, we’re in the office every day,” he continued. “We wanted to make sure it was convenient to folks, regardless. We have people living in the West End, south of the river … and it’s easy because we're so close to the interstate. Our employees have more time on their hands when commuting less.”
Richmond National and Innsbrook are proving to be a winning formula. Kavanagh started with a team of 12. Today, he’s knocking on midsize businesses’ doors with a team of 92 full-time employees and five summer interns. When asked to what he owes his success, he quickly credits his workforce, saying, “We offer a space for people to go as far as their desires and skills can take them.”
Looking Ahead
If Innsbrook’s track record is any indication, this is only the beginning of what it will become. What was once 1,000 acres of sprawling fields and farmland is now a thriving urban center. As we continue to lay the groundwork for its continued rise, we can’t wait to see what happens next.
Making It Happen
Last April, the Henrico EDA appointed Wendy Miller as its first Manager of Placemaking. Her role is to ensure Henrico is reimagining and reinventing public spaces in ways that connect with a community undergoing astronomical growth. After all, more than 330,000 residents are choosing to live their best in Henrico, and according to the Demographics Research Group, that number is expected to surge by 26.4% in the next 30 years. Emerging from the pandemic, we noted a considerable demand for walkable neighborhoods, a vibrant outdoor scene, and a deep sense of place. As a result, one of our areas of focus became the revitalization of Innsbrook and the cultivation of its live, work, play community vibe.
Living It Up
The premier office park certainly has the “live” part down pat. Last September, the Massachusetts-based developer Northland acquired 22 acres to build a dynamic mixed-use development at Innsbrook’s North End. The area is zoned for up to 700 residential units, 55,000 square feet of retail space, and a hotel. Meanwhile, Seminole Trail Properties acquired an 11-office building portfolio from local developer Lingerfelt with the full intention of moving forward with the former owner’s plans for multifamily development. And let’s remember that homes are now available for lease at Metropolis. This new complex redefines apartment living with 8,000 square feet of amenity space, including a resort-style swimming pool, bocce courts, fitness center, rooftop lounge, bike storage, repair station, and even a pet spa.
Power Play
For those who enjoy activity and nature, Innsbrook is the place to be … or rather, play. It offers three stunning lakes and five miles of trails for those who enjoy green space and the great outdoors. When you want to unwind, there’s Sunset Yoga. When you want to rev it up, there are events like the annual Anthem Corporate Run. And when you want to cut loose, there’s Hurley’s Tavern, the Cheers-esque, no-frills bar that serves locally sourced beer and wine, comfort food, and loads of hospitality.
In the Zone
Knowing that Innsbrook offered “live” and “play” in spades, we focused on the “work” aspect that brings mixed-use communities to life. Of Henrico’s $25 billion gross annual product, Innsbrook companies contribute about $3 billion. The activity was there, but we asked ourselves how to keep businesses there and the economic activity going.
In response, Henrico launched the Innsbrook Technology Zone in 2022. The program offers eligible businesses building and permit fee waivers, flex spaces to accommodate the modern hybrid workplace, custom incentives, and more. Business professionals can collaborate directly with the Henrico EDA to tailor financial solutions specific to their business needs. This gives entrepreneurs and executives a chance to enjoy excellent financial footing to help fuel their innovation, all in a premier community that attracts and retains talent.
Growth Spurt
Our plan worked, companies are taking full advantage, and business is booming across all industries. EAB, a leading education research, technology, and marketing and enrollment solutions provider, announced it was moving operations to Innsbrook. This relocation means at least a $6 million investment and 200 more jobs for our community. Berkshire Hathaway, a subsidiary of Warren Buffet’s Berkshire Hathaway Energy, announced that it was relocating its headquarters here as well. Riverstone, a Class A general contracting and construction management firm, also moved its headquarters to the premier office park. In addition, Dominion Energy recently completed a $100 million upgrade of its technical center.
But businesses aren’t just relocating and renovating here. They’re succeeding here. Specialty insurer Richmond National recently announced it was nearly doubling its footprint in Innsbrook barely two years after its founding.
Gaining Momentum
After spending over a quarter of a century as an investment banker focused on the insurance industry, Richmond National President and CEO Joe Kavanagh always said he would like to run his own insurance business if he could put the right team together. In 2021, he made it happen. Richmond National underwrites specialized property, casualty, and professional liability products for small and midsize businesses. Kavanagh believes that the best way to control their business is to do everything in-house. Customers and stakeholders love his personalized service and quick response time in an industry where many opportunities have a short time frame. Belief in his business was so strong that he completed a $30 million funding round in April and added 7,200 square feet to his Innsbrook headquarters. Henrico bested Chicago and North Carolina to retain the business.
A Perfect Match
In Kavanagh’s words, keeping his business in our premier office park was an easy decision. The obvious first thing, beyond his deep adoration for the nearby Boychik’s Deli, was his profound respect for Henrico’s unmatched workforce and easy commute, one of the best in the nation.
“Here you have a vast talent pool of insurance and other business people,” Kavanagh said. “Members of our IT team have come from a wide range of other businesses in the area that are outside of the insurance industry. There are a number of good colleges and universities in Virginia – very close by – and we’ve been able to attract people right out of college … young talent who love where they work.”
“For what we’re doing, we’re in the office every day,” he continued. “We wanted to make sure it was convenient to folks, regardless. We have people living in the West End, south of the river … and it’s easy because we're so close to the interstate. Our employees have more time on their hands when commuting less.”
Richmond National and Innsbrook are proving to be a winning formula. Kavanagh started with a team of 12. Today, he’s knocking on midsize businesses’ doors with a team of 92 full-time employees and five summer interns. When asked to what he owes his success, he quickly credits his workforce, saying, “We offer a space for people to go as far as their desires and skills can take them.”
Looking Ahead
If Innsbrook’s track record is any indication, this is only the beginning of what it will become. What was once 1,000 acres of sprawling fields and farmland is now a thriving urban center. As we continue to lay the groundwork for its continued rise, we can’t wait to see what happens next.
