RICHMOND, Va. (WRIC) — The City of Richmond is soliciting proposals from developers to re-imagine the “Diamond District,” a tract of land between Arthur Ashe Boulevard and Hermitage Road.

Under the City’s vision for the area, known as Richmond 300, the iconic home of the Richmond Flying Squirrels – and namesake of the district – would be demolished and replaced with a new “multi-purpose stadium.”

The Diamond was constructed in 1985, and cost $8 million at the time. It served as the home of the Richmond Braves until 2008, when they couldn’t reach an agreement over the construction of a new stadium. The Diamond then underwent a $1.5 million renovation, and became the home of the Flying Squirrels.

The city has set up a sleek new site to promote the district and attract interest from developers. In a press release, the City said it would release a Request For Interest (RFI) by the end of 2021. That RFI will detail what the city is looking for from developers, and invite them to make preliminary submissions.

The city’s plan for the surrounding area calls for a “mixed-use, mixed-income urban destination,” which according to the Richmond Future Land Use Plan, would mean high-density commercial and residential buildings with “a minimum height of five stories.”