RICHMOND, Va. (WRIC) — Plans to have the now-fenced-up Richmond Coliseum demolished and the little over seven acres of land around it redeveloped took a step forward last night.
City council voted to hand the property over to the city’s Economic Development Authority three years after the coliseum closed its doors.
The vote allows the chief admin to reach an agreement with the EDA to start the redevelopment project.
In 2020, council voted down the $1.5 billion Navy Hill project that would’ve replaced the coliseum and redeveloped the area around it into apartments, a hotel and restaurants.
Richmond’s Economic Development Authority has to start the process of selling the property within six months. Then, the new owner has to demolish it within a year.