RICHMOND, Va. (WRIC) – The Richmond Coliseum has been shuttered for years but plans to have it demolished and to redevelop the downtown property where it has been for decades took a major step Monday.
The Richmond City Council approved a plan to transfer the property, made up of 7.36 acres of city-owned real estate, under an agreement with the city’s Economic Development Authority.
Within six months, the authority must initiate a solicitation process to sell the downtown property. The new owner must demolish the Coliseum and complete any needed environmental remediation within 12 months, according to the city’s plan.
The new owner must also complete the development of the parcel within 42 months of its sale. The Richmond Coliseum opened in 1971 and closed its doors in 2019.
In 2020, the council voted down a proposal to replace the Coliseum and redevelop the area around it. The Navy Hill project sought a 17,500-seat area to replace the Richmond Coliseum, along with apartments, a hotel, restaurants and more commercial space.
This story is developing. Check back for updates.
