Richmond, VA— Last week, the Central Virginia Transportation Authority (CVTA) approved a funding request from the City of Richmond in the amount of $10,369,508 to support continued development of Richmond's Diamond District project.  

Specifically, the funds will be used for transportation infrastructure improvements along the site’s major travel corridors, including improved traffic signals at Arthur Ashe Boulevard and Hermitage Road, streetlights, and additional stormwater runoff protections which would be necessary to support the low-lying area in the event of inclement weather.

“I’ve said it before, but it’s true: the vision for Diamond District is transformational not just for the City, but for the region,” said Mayor Danny Avula. “I’m incredibly grateful to CVTA and our regional partners for sharing this vision and for their support in moving Diamond District forward. We are all sure to benefit from the project and I look forward to celebrating every milestone along the way, together."

Construction of the approximately six acres of public infrastructure surrounding the district, part of Phase 1A in a 3-part development plan, began in March 2025 and has an anticipated completion date of March 2027.  

“With the CVTA’s support, we’re able to keep development on pace to meet our March 2027 target,” said Deputy Chief Administrative Officer Sharon Ebert. “This means that downstream construction, including the remainder of Phase 1A, can continue unabated by delays to public infrastructure work. This is a major hurdle to have cleared for our short- and long-term development goals and we’re pleased to have done so with the support from our neighbors and partners.”

Established in 2020, the Central Virginia Transportation Authority (CVTA) generates and manages local funds to address regional transportation needs. CVTA allows the Richmond region—comprised of nine jurisdictions including the City of Richmond, Town of Ashland, and surrounding counties—to prioritize and fund critical transportation projects that improve safety, accessibility, economic development, and overall quality of life.  

“This is a perfect example of regional collaboration gone right” said Department of Public Works Deputy Director and CVTA TAC Board Member Dironna Moore Clarke. “Funding projects like this is exactly why the CVTA exists. By helping to improve the transportation infrastructure around what is sure to be a regional entertainment hub, the CVTA is advancing safe, accessible spaces for all to enjoy.”

About the Diamond District

The Diamond District is a public-private partnership between the City of Richmond, the Richmond Economic Development Authority, and Diamond District Partners, LLC (DDP) to create a new mixed-use community anchored by the new CarMax Park and a new crescent park. DDP, led by Thalhimer Realty Partners, LLC,  is the master developer of the Diamond District and has contracted with Capstone Development, LLC and Pennrose/Nix to develop the hotel and affordable housing, respectively. Learn more at rvadiamond.com