What's Happening?
Hirschler, a law firm based in Shockoe Bottom, is in discussions to relocate its Richmond headquarters to a new office building in the Diamond District. The firm has signed a letter of intent to occupy 50,000 square feet in a five-story, 86,000-square-foot
building adjacent to CarMax Park and the new baseball stadium. This move would see Hirschler leave its current location in the Edgeworth Building, where it has been for two decades. The Diamond District development, led by Diamond District Partners, includes a mix of retail, office, and residential spaces, with the office building offering amenities such as a rooftop lounge with ballpark views. The project is part of a larger effort to revitalize the area, with the new stadium financed by city bonds.
Why It's Important?
The relocation of Hirschler to the Diamond District signifies confidence in the area's development and potential economic growth. The office building is expected to generate tax revenue that will help repay bonds for the new stadium, contributing to the city's financial health. The move also highlights the importance of high-quality office space in attracting businesses to the area, which could lead to increased economic activity and job creation. The Diamond District's development is a significant step in enhancing Richmond's business landscape, offering modern amenities and fostering a connected business community.
What's Next?
If lease negotiations are successful, Hirschler plans to move into the new space by 2028. Construction on the office building is scheduled to begin in the summer of 2026, with completion expected in 2028. The Diamond District's first phase includes additional retail, residential, and hotel developments, with completion targeted for 2028-2032. The project aims to create a vibrant, mixed-use community that supports local businesses and attracts new ones. The success of this development could influence future urban planning and investment in Richmond.
