Richmond, Va. (Newsradiowrva.com) - Richmond’s Economic Development Authority (EDA) has sold and transferred an 18-acre plot of land to Diamond District partners as part of the redevelopment project.
According to the city, the plot (“Phase 1A”) includes six acres of public infrastructure, like streets and parks, that will be conveyed back to the city after it’s completed.
It will also include 12 acres for private development that will include a 180-room hotel, 161 “workforce” housing units, 730 “market-rate” housing units and 30,000 square feet of commercial space.
The city said the parcel of land sold for $11.4 million.
Step one of the project is the new CarMax Park for the Flying Squirrels, which is already under construction. The new site is set to open next year.