Richmond Approves Changes to Diamond District Project
The city’s major development will now include more hotel and office space, while reducing the number of planned apartments.
Updated on Oct. 23, 2026 in Commercial
Live Poll
Should city developments prioritize commercial space and hotels over new residential housing units?
The Richmond Economic Development Authority has approved significant revisions to the Diamond District project phase one. These updates shift the neighborhood's composition by adding more hotel and commercial space while reducing the number of planned market-rate apartments.
Why it matters
The changes reflect shifting local demand for office and hospitality space in the Richmond area. Homeowners and prospective renters should note these adjustments to the project's density, which will reshape the district's footprint through 2030.
The phase now includes 276 total hotel rooms and 559 market-rate apartments. Infrastructure for the Diamond District is supported by $40 million in secured lease revenue bonds, while the initial Dōma apartment project represents an $80 million investment.
The players
Richmond Economic Development Authority
The local agency responsible for guiding commercial land use and public-private project oversight in Richmond.
Hirschler
A prominent law firm that has secured a 50,000-square-foot lease within the new office development.
Tapestry by Hilton
A premium hotel brand selected to anchor the hospitality component of the Diamond District development.
The details
The developer rebalanced the project density by calculating that one hotel room and 1,000 square feet of commercial space are equivalent to one market-rate apartment unit. This allowed for an increase in commercial square footage from 30,000 to 180,000 and the addition of a 146-room Tapestry by Hilton. The plan also includes 161 dedicated lower-income housing units and a seven-story office building, which is slated to house the law firm Hirschler.
Timeline
July 2026: Dōma apartment project construction began.
October 22, 2026: Richmond Economic Development Authority board approved plan amendments.
2028: Targeted completion for retail, workforce housing, and the first hotel.
2030: Projected completion for the second apartment building and hotel-office complex.
The Home Front
The project follows a trend of massive urban infill developments aimed at transforming underutilized city land into dense, mixed-use districts. These amendments indicate a shift in the project’s internal economic balance to prioritize commercial leasing over residential capacity.
Residents near the Diamond District site should expect ongoing construction activity and traffic shifts as the project milestones proceed through 2030. Monitor official city planning portals for specific road closures near the Hermitage Road construction zone.
The takeaway
The Diamond District's evolution reflects a recalibration of Richmond's commercial real estate priorities. Local homeowners and stakeholders should track the 2028 and 2030 completion phases to anticipate shifting neighborhood amenities and traffic density.
Further reading
For more updates on local development, see the Commercial section.
Source note: This article includes information reported by Richmond BizSense.
Live Poll
Should city developments prioritize commercial space and hotels over new residential housing units?
