RICHMOND, Va. (WRIC) – Richmond’s City Council has greenlit the Diamond District deal, a $2.4 billion development project billed as the largest in the city’s history.
The council approved the city’s agreement with RVA Diamond Partners, the project’s developers, and the transfer of nearly 61 acres of land on North Arthur Ashe Boulevard and Hermitage Road to Richmond’s Economic Development Authority during its Monday meeting.
“I’m so grateful to be here right now to celebrate this milestone,” City Councilwoman Katherine Jordan, who represents Richmond’s 2nd District, said, “it wouldn’t be without the people doing the work.”
These necessary steps, which passed unanimously, come after Richmond announced on April 24 that it finalized a deal with RVA Diamond Partners with some changes to the project.
Among the changes, the city has agreed to fund public infrastructure improvements in the area during the project’s first phase.
The first phase of the redevelopment project will include a new baseball stadium to replace The Diamond, 1,100 housing units, a 180-room hotel, 58,000 square feet for retail, an 11-acre public park and parking.
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