A corporate-led coalition has hired two companies to explore options for replacing the Richmond Coliseum and redeveloping a swath of downtown between the deteriorating arena and City Hall.
A spokesman for the group, led by Dominion Energy Chairman Thomas F. Farrell II, confirmed that it has retained Future Cities, a prominent sports entertainment development firm based in Los Angeles, and Concord Eastridge, a real estate development company based in Fairfax.
“They’re currently involved in identifying possible ways to replace the Richmond Coliseum, which is costing the city about $1 million a year,” said Jeff Kelley, who confirmed in late June that Farrell, Altria CEO Martin J. Barrington and Virginia Commonwealth University are part of a coalition that is seeking to replace the 46-year-old arena as part of an ambitious downtown redevelopment plan.
