Exponential growth means longtime locals are bound to have a “wait, when did this get here?” moment. With lots of new developments on the horizon, we’re here to catch you up on Richmond’s most anticipated builds — timelines, renderings, details — so grab your hard hat and let’s get going.
We will update this list periodically, so be sure to bookmark this page so you can check back for more information.
Note: Costs and completion dates are approximate + subject to change.
Mayo Island
Cost: $16 million
Completion: October 2026
Perhaps one of the most talked-about developments in the city today, the revival of Mayo Island is years in the making. Funded by state, city, and nonprofit sources, the intensive project will completely transform the environmental landscape and accessibility of historic Mayo Island, preparing it for public use as a park.
Demolition is slated to begin this fall. Read more about the designs and timeline.
Brown’s Island
Cost: $30 million
Completion: Fall 2026
Venture Richmond’s Brown’s Island Improvement Plan details a total makeover for this downtown space, best known for its concerts, festivals, and community gatherings. Funding for this project is split down the middle between the City of Richmond and Venture Richmond. Construction is scheduled to begin in November 2025.
Diamond District
Cost: $2.4 billion
Completion: 2035-2040
This all-encompassing project will transform nearly 70 acres of urban space into a sports + entertainment nexus boosted by residential, commercial, and office buildings. Construction is divided into phases, and the first phase is underway, with a five-year completion target.
CarMax Park
Cost: $115 million
Completion: April 2026
Serving as the anchor of the Diamond District development, CarMax Park will replace The Diamond as our minor league baseball headquarters. Guests can expect to see luxury + dugout suits, a beer garden, a kids’ zone, an event lounge, and year-round entertainment.
Intermediate Terminal Building
Cost: TBD
Completion: TBD
Located along the riverside route to Rockett’s Landing, an old warehouse is due for a major transformation. That much we know... what we don’t know is what the transformation will be. As of September, the City of Richmond has narrowed down proposals for the site, but the final decision is still up in the air.
While we wait for a project green light why not revisit some of our readers’ warehouse development dreams from last year?
