City officials, along with county and corporate partners, today received an update from the consulting team that was retained by the Coliseum Study Group to evaluate the long-term options associated with the Coliseum and the Greater Richmond area. Barrett Sports Group, LLC and Populous Architects, P.C. provided the update to the Coliseum Study Group, which consists of a group of private corporations and public sector entities.
"The market research thus far supports what we know about Richmond being an optimal location," said Mayor Dwight C. Jones. "Richmond is a sizable market with limited entertainment options. What we have to do now is get the right facility in the city to put us in a position to capture the events that will expand our tourism footprint where sports and entertainment are concerned."
A total of seven potential arena sites in the city of Richmond were reviewed in Phase 1 of the study. The consulting team has narrowed the options down to four locations for the group's consideration. The recommended sites include the existing Coliseum, the Public Safety Building and adjacent parking lots, the Diamond and the ABC warehouse site.
Today's report is preliminary and no conclusions have been drawn at this stage. The next phase of the study will explore economic and financial feasibility considerations in more detail, and will also assess the potential of a new or renovated facility to catalyze new development and neighborhood revitalization. There will be a public input process to evaluate recommendations.
"Tourism, sports and entertainment can help stimulate our city's economy; providing jobs and employment growth, an expanded tax base and other direct benefits to local residents," continued Mayor Jones. "We want a facility that accommodates what this market can support and what this market deserves. Dollars are leaving this area and going to other places because of the limitations of the existing facility and we are going to turn that around."
The consulting team retained by the Coliseum Study Group consists of Barrett Sports Group, LLC, Populous Architects, P.C. and Weston Sports & Entertainment. A final report is expected by mid-November.
Click here for the interim status report.