Shockoe Redevelopment
It’s been said before, and it deserves saying again – the proposed relocation of the Richmond Braves from the Diamond to a new stadium in Shockoe Bottom is good for Richmond and good for VCU.
The vacated Diamond will become a major sportsplex and new home for VCU athletics, becoming a “third campus” in addition to MCV and Monroe Park to allow our sports programs to grow. Shockoe Bottom, meanwhile, will experience hundreds of millions of dollars in new investment and renovations, creating a walkable urban village conducive to sustainable urban development. The vast majority of the funding will come from private sources, and the small share paid by the city will come from new tax revenue generated by the real estate development surrounding the stadium.
Some argue the new revenue could go to other areas of city government, but other cities would be begging for the level of financial commitment showed thus far by the private investors involved in the Shockoe redevelopment project. Let’s give them a chance to use their money and make Richmond a better place to live, work and play.