Story

About the project

The Diamond District is a new mixed-income neighborhood taking shape around a new series of public green spaces and Richmond’s minor league ballpark. The redevelopment of the site is a public-private partnership between the City of Richmond, the Richmond Economic Development Authority (EDA), and Diamond District Partners (DDP). As the master developer, DDP oversees the development of the public infrastructure and the private development at the Diamond District.

(Note that DDP did not develop the new minor league baseball stadium. The stadium was developed via a public-private partnership agreement between the EDA and the baseball team ownership group.)

DDP broke ground on developing the public infrastructure in April 2025 and over the next 10-15 years, the 67-acre site will transform from a 1980s baseball stadium with surface parking lots into a new mixed-use community anchored by a new crescent park and a new stadium.

Phase 1A

DDP is starting with Phase 1A which includes, at a minimum: 4 new streets, new green spaces, a 180-room hotel, 161 workforce housing units at 60% of the area median income, 730 market-rate housing units, and 30,000 square feet of commercial space. This phase commenced in April 2025 and will take approximately 5 years to complete.

Phase 1B

Phase 1B will include, at minimum: 1 new street, 123 workforce housing units at 60% of the area median income, 212 market-rate housing units, and 114,000 square feet of commercial space.

Phase 1C

Phase 1C will include, at minimum: 54 workforce housing units at 60% of the area median income, 413 market-rate housing units, and 12,000 square feet of commercial space.

About DDP

Diamond District Partners (DDP) is the master developer behind the Diamond District, led by Thalhimer Realty Partners. Thalhimer Realty Partners is a Richmond-based real estate investment firm with a portfolio of commercial and multifamily assets, built on decades of experience acquiring, developing, and managing multifamily, retail, office, and industrial properties. DDP was formed to bring that experience directly to the Diamond District, carrying the project from land transfer through delivery.

That work is already underway. DDP hosted the public infrastructure groundbreaking in April 2025. By 2028, six new uses will be complete or nearly complete around the new baseball stadium: 2.23 acres of new public green spaces, a 200-key hotel by Kalyan Hospitality, a 276-unit market-rate apartment building with 453-space parking garage by DDP, a 161-unit workforce housing development by Pennrose/Nix, a 100,000 square foot trophy office building by DDP, and a 20,000 square foot retail building by DDP.
In 2028, you will be able to live, work, play, shop/dine, and stay at the Diamond District. DDP looks forward to welcoming you and hopes you will find your home base at the Diamond District.