Last week, Mayor Levar Stoney announced his ambitious plans to redevelop a large part of downtown Richmond including a new Coliseum. These plans are similar to the efforts started earlier this year by a group led by Dominion Energy CEO Tom Farrell.
The project will be known as "The North of Broad Downtown Redevelopment" project. The Mayor says, "It's an opportunity to help transform a major part of our city by putting underutilized and underperforming assets to work to field economic opportunity for our residents and improve their quality of life."
The process will involve a Request for Proposals to developers to present plans by Feb. 9 that include mixed-income housing, affordable housing, retail development, renovation of Blues Armory, a 400 room hotel and a new Coliseum with a capacity of 17,000 plus seats.
The goal is to also provide for minority contractor involvement and workforce development.
There is no question that it is time for the downtown renaissance to continue.
Richmond is on the national stage and if our region does not continue to grow we will fail to compete effectively with other cities. The time for leadership and regional cooperation is now.