Future Cities, LLC, and partner Concord Eastridge formed Capital City Partners, LLC in 2016 and are currently leading a public/private development consortium in the redevelopment of Downtown Richmond, VA.
The project includes the replacement of existing Richmond Coliseum with a new state-of-the-art Arena, repurposing of the historic Blues Armory, and the development of the adjacent publicly-owned land within an identified TIF district as one of the methods for underwriting bond financing for the new arena.
The area of greatest redevelopment concentration is ten-block area bounded by Marshall and Leigh Streets, and by 5th and 10th Streets within the City Center of Richmond.
The heart of the development is adjacent to the region’s most important offices and workplaces: VCU’s Medical College of Virginia (MCV) Campus, the Virginia Biotechnology Research Park, Greater Richmond Convention Center, City Hall, Capitol Square, government and institutional buildings, as well as the financial district.
When complete, the project will include a new 17,500 seat arena, a 500-room convention center hotel 250,000 s.f. of office space, 500,000 s.f of medical research facilities, over 2,000 multi-family residential units, and 200,000 s.f. of retail.