RICHMOND, Va. -- Another step has been taken in the ongoing process to tee up Richmond’s Diamond District development.
Last week, four of the six city-owned parcels that make up the bulk of the 67-acre Diamond District site were transferred to Richmond’s Economic Development Authority, which plans to subsequently sell those parcels to the project developer, RVA Diamond Partners.
The transferred parcels include the site of the planned baseball stadium that would replace The Diamond and anchor the larger development, as well as other land that would make up the project’s first phase.
Transferring the land has been needed for the EDA to petition City Council to create the project’s community development authority (CDA), which would issue nonrecourse bonds to help finance the new stadium and infrastructure improvements to support the larger development.
