City Council Approves Plan to Finance New Ballpark

Richmond, Va. (Newsradiowrva.com) - Construction of a new ballpark for the Flying Squirrels is closer to reality after City Council passed a new funding structure for the Diamond District Project.

The plan includes issuing $170 million in general obligation bonds. During the public comment period, people were overwhelmingly in favor of the plan.

Richmond City Council voted Wednesday to approve plans to authorize issuing “special revenue bonds” to pay for the design, acquisition, construction and equipping of a new baseball stadium, as well as “certain public infrastructure” connected to the diamond district development.

The new ballpark will be close to the current stadium and is slated to be ready for the start of the 2026 season. Shovels should be in the ground later this year.

City officials said the new stadium for the Squirrels and the redevelopment of much of the Scott’s Addition neighborhood won’t impact its ability to fund other projects, such as the rebuilding of Fox Elementary School .