RICHMOND, VA. (WRIC) — The City of Richmond announced on Tuesday that it is accepting information from development teams for its Diamond District Project.

The location of the “Diamond District” is at the crossroads of I-64/I-95 and North Arthur Ashe Boulevard. This area borders Scott’s Addition neighborhood and is four miles from downtown. The plan for the area is to create a “mixed-use, mixed-income urban destination,” with both commercial and residential buildings.

“We’re proud that Richmond keeps showing up on lists of America’s coolest, best and most livable cities, and our economic development momentum continues with the Diamond District redevelopment,” said Leonard Sledge, Director of Economic Development for the City of Richmond. “We’re excited to invite potential partners to step up now to help fully unleash the potential of the Diamond District and create great opportunities for the people and businesses of Richmond.”

While this plan is named after the Richmond Flying Squirrels’ baseball stadium, the Diamond itself would be demolished and replaced with a new “multi-purpose stadium.” The Diamond was originally built in 1985 and cost $8 million. It received a $1.5 million upgrade after the Richmond Braves left in 2008.

The Diamond District is part of “Richmond 300: A Plan for Growth,” which was adopted by the city council on Dec. 14. This plan includes 17 goals and 73 objectives to make sure that by 2073 “Richmond is a welcoming, inclusive, diverse, innovative, sustainable, and equitable city of thriving neighborhoods, ensuring a high quality of life for all.”

“Richmond offers so many of the things people and businesses are seeking – location, diversity, authenticity and affordability,” Richmond Mayor Levar Stoney said in a statement. “Richmond is the place to be, and the Diamond District is positioned to be a crown jewel in our economically thriving city.”

Developers can find the Request for Interest form online here. Submissions are due by Feb. 15, 2022, at 3 p.m.