The Richmond Coliseum has quite a storied past.
As Richmond officials prepare to rezone the 20-block area referred to as City Center, they’re also taking further steps to position the Richmond Coliseum property for potential sale and redevelopment.
The City Council last week introduced two ordinances that would transfer ownership of the arena property to the city’s Economic Development Authority, and would execute a cooperation agreement with the EDA for redeveloping the 7-acre parcel.
The transfer ordinance was referred to the Planning Commission, which is scheduled to review the proposal at its meeting today. The cooperation agreement was referred to the council’s Finance and Economic Development Standing Committee, which will take up the matter at its meeting this Thursday.
The items would then come back to the council for potential approval at its May 23 meeting.
The city envisions the Coliseum being torn down and replaced with a mix of uses.
Transferring ownership of the property would allow the EDA to pursue a potential sale and redevelopment of the Coliseum site through a request for proposals from prospective developers. That process would determine when and how the shuttered arena may be demolished.
According to the proposed agreement, the EDA would have six months following the Coliseum’s conveyance to commence a competitive solicitation process seeking offers for the property’s sale and redevelopment.
Once sold, the property would become subject to city real estate taxes and its new owner would be required to demolish the arena within 12 months. Development of the property would then need to be completed within 42 months, or 3½ years, the agreement states.
If the property is not sold within 24 months after it’s conveyed to the EDA, its title would revert back to the city, according to the document.
The 50-year-old Coliseum was declared surplus along with other city-owned properties that were included in a real estate disposition plan adopted last year. The city closed the arena’s doors at the start of 2019 while the Navy Hill development proposal, which would have replaced the Coliseum with a new arena, was under consideration. A council majority voted the project down a year later.
With a new regional arena now planned in Henrico County as part of the GreenCity project, city leaders have said they would not look to reopen or replace the aging Coliseum.
A conceptual map of the city blocks and properties involved in the city’s City Center plan and their potential uses. (Images courtesy of the City of Richmond)
The ordinances introduced last week coincide with an effort to rezone City Center in accordance with a small area plan adopted earlier this year. That plan, called the City Center Innovation District Small Area Plan, calls for demolishing the Coliseum and redefining the area as an innovation hub, with a mix of uses and unlimited building height and density.
The plan also envisions a new high school and tech center that could collaborate with area anchors such as VCU Health, Reynolds Community College and the VA Bio+Tech Park. The plan also calls for unloading and redevelopment of other city-owned properties, many of which were part of the Navy Hill plan and make up the bulk of the 26-acre area.
The proposed zoning changes would potentially consolidate existing designations into a new zoning category that would allow for a greater mix of uses, including residential uses and street-fronting commercial spaces. The new zoning category would be a reworked version of the city’s RP Research Park district that currently makes up the biotech park properties.
Community outreach on the proposed changes wrapped up last week with the second of two public meetings. The city is aiming to adopt the changes by July, with public hearings to precede votes by the commission and council.
More information on the proposal and the City Center plan is available on the city’s website.
The Richmond Coliseum has quite a storied past.
As Richmond officials prepare to rezone the 20-block area referred to as City Center, they’re also taking further steps to position the Richmond Coliseum property for potential sale and redevelopment.
The City Council last week introduced two ordinances that would transfer ownership of the arena property to the city’s Economic Development Authority, and would execute a cooperation agreement with the EDA for redeveloping the 7-acre parcel.
The transfer ordinance was referred to the Planning Commission, which is scheduled to review the proposal at its meeting today. The cooperation agreement was referred to the council’s Finance and Economic Development Standing Committee, which will take up the matter at its meeting this Thursday.
The items would then come back to the council for potential approval at its May 23 meeting.
The city envisions the Coliseum being torn down and replaced with a mix of uses.
Transferring ownership of the property would allow the EDA to pursue a potential sale and redevelopment of the Coliseum site through a request for proposals from prospective developers. That process would determine when and how the shuttered arena may be demolished.
According to the proposed agreement, the EDA would have six months following the Coliseum’s conveyance to commence a competitive solicitation process seeking offers for the property’s sale and redevelopment.
Once sold, the property would become subject to city real estate taxes and its new owner would be required to demolish the arena within 12 months. Development of the property would then need to be completed within 42 months, or 3½ years, the agreement states.
If the property is not sold within 24 months after it’s conveyed to the EDA, its title would revert back to the city, according to the document.
The 50-year-old Coliseum was declared surplus along with other city-owned properties that were included in a real estate disposition plan adopted last year. The city closed the arena’s doors at the start of 2019 while the Navy Hill development proposal, which would have replaced the Coliseum with a new arena, was under consideration. A council majority voted the project down a year later.
With a new regional arena now planned in Henrico County as part of the GreenCity project, city leaders have said they would not look to reopen or replace the aging Coliseum.
A conceptual map of the city blocks and properties involved in the city’s City Center plan and their potential uses. (Images courtesy of the City of Richmond)
The ordinances introduced last week coincide with an effort to rezone City Center in accordance with a small area plan adopted earlier this year. That plan, called the City Center Innovation District Small Area Plan, calls for demolishing the Coliseum and redefining the area as an innovation hub, with a mix of uses and unlimited building height and density.
The plan also envisions a new high school and tech center that could collaborate with area anchors such as VCU Health, Reynolds Community College and the VA Bio+Tech Park. The plan also calls for unloading and redevelopment of other city-owned properties, many of which were part of the Navy Hill plan and make up the bulk of the 26-acre area.
The proposed zoning changes would potentially consolidate existing designations into a new zoning category that would allow for a greater mix of uses, including residential uses and street-fronting commercial spaces. The new zoning category would be a reworked version of the city’s RP Research Park district that currently makes up the biotech park properties.
Community outreach on the proposed changes wrapped up last week with the second of two public meetings. The city is aiming to adopt the changes by July, with public hearings to precede votes by the commission and council.
More information on the proposal and the City Center plan is available on the city’s website.