City selects developer to polish diamond district

The redevelopment of the 67-acre site between Hermitage Road and Arthur Ashe Boulevard and the replacement of The Diamond baseball stadium into a new Diamond District has an official developer. Last night the city chose RVA Diamond Partners to tackle the huge project. RVA Diamond Partners is made up of DC-based Republic Properties Corp., Richmond-based developer Thalhimer Realty Partners (TRP) and Chicago-based investment bank Loop Capital. The decision was made by the selection committee and now the proposal goes to the city council. A seven-vote supermajority of the nine-person board is required. The plan is to hold that vote later this year, to allow work on the new stadium to begin early next year.

The anchor of the project will be a new baseball stadium for the Flying Squirrels. In addition, there will be an 11-acre park and an expectation that 20% of rental units built will be available to households earning between 30% and 60% of the region’s median income. At least 100 of those units will be open to vouchers for social housing residents, according to the city. The image at the top of the page is all we have visually of the plan.

The most pressing deadline is for the new ballpark. Major League Baseball has set a deadline for the start of the 2025 baseball season for all professional venues to meet new facility standards. The rest of the development will take place over the next 15 years.

The next in-person opportunity to learn more about the selection process and the project is an in-person meeting tomorrow, Wednesday, September 14, 2022 at 6:00 p.m. at the Bon Secours Training Center (2401 W. Leigh St). The meeting will also be simultaneously broadcast on Teams Live: meeting link and participant phone number 804-316-9457 (conference ID: 693 704 099#). There will also be a public telephone meeting on Tuesday, September 20, 2022 at 6:30 p.m. To register for the telephone town hall click here. If you have a comment or question for the review committee, you can use this form to submit it.

Add the project page to your favorites to follow developments.

Richmond BizSense has more concrete details.

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