RICHMOND, Va. (WRIC) — Virginia Commonwealth University (VCU) is pushing ahead with the new CoStar Center arts building which is expected to begin construction this fall.

The 213,000-square-foot project — to be located on the corner of Broad Street and Belvidere Street — is a partnership between the university and CoStar Group, an information, analytics, and marketing services company based in Washington D.C.

“This is an enormous step toward the realization of a significant and long-term vision for our school and the university,” said VCUarts Dean Carmenita Higginbotham. “Through this collaboration, we are empowered to create one of the finest arts education facilities in the nation, providing collaborative opportunities for our growing departments and our students, faculty and staff.”

The project will feature flexible classroom spaces, interdisciplinary performance venues and makerspaces. The space will be able to service a number of activities, from opera to quantum computing, according to the university.

There will also be a proscenium theater able to seat 325 people, a concert hall able to seat 325-500 people depending on the stage configuration and an innovation studio with a seating capacity of 125.

Earlier this year it was announced that CoStar would be committing $18 million toward construction of the project.

The “CoStar Center for Arts and Innovation” name is still subject to approval by the university’s Board of Visitors. The building is expected to open in early 2027.