Genworth campus transformation pitched to potential developers

Genworth seeks developers for Broad Street campus

Genworth’s campus at 6620 W. Broad St., across the road from Reynolds Crossing. (BizSense file photos)

The future of Genworth Financial’s Broad Street campus is officially up for grabs.

The Henrico-based insurance giant said Tuesday it has commenced a request for information (RFI) phase to query developers for ideas of how to best transform its longtime multi-building home base at 6620 W. Broad St. into a mixed-use development.

“We worked with Cushman Wakefield/Thalhimer to curate a list of potential partners to invite to participate, based on our vision of a robust, sustainable, mixed-use redevelopment supporting a thriving Richmond community,” the company said in a statement. “The RFI invitee list includes a diverse mix of local and national firms including both master and specialized product-type developers.”

While the company did not provide further details of the RFI or the developer invite list, it said it has put a name on the future project: Compass Town Center.

The company previously said a new Genworth headquarters building would be part of the broader redeveloped site, which would also include office space for additional tenants, retail and restaurant space, and townhomes and apartments.

Genworth’s campus houses several office buildings, most of which are past their prime.

It would take shape on Genworth’s 45 acres, which are currently home to four buildings totaling nearly 500,000 square feet of office space, much of which is past its prime and empty both from the pandemic and previous downsizing.

The property also houses some vacant land, a large parking deck and a smaller parking deck. The assemblage was most recently assessed by the county at a combined $54 million.

The potential redevelopment process was kicked off this summer after Genworth inked a deal to temporarily move its workforce from the campus to a single office across the road at Reynolds Crossing. It subleased 88,000 square feet at 6603 W. Broad St., a building previously occupied by Altria.

The temporary space has room for around 300 Genworth employees at any given time. That allows for its 850 employees to come and go while it continues a mix of in-person and at-home work amid the pandemic.

Genworth said the RFI process is expected to last several months, followed by a request for proposals phase that likely will also last several months.

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