Here’s a recap of the top stories for the week of May 29, 2026
Diamond District developer breaks ground near CarMax Park
Reported by BizSense’s Jonathan Spiers
Richmond’s long-awaited Diamond District project is beginning to take physical shape, as the development group led by Thalhimer Realty Partners prepares to break ground on a new apartment building next month.
The building is the first of several new structures that will rise beside the ballpark and make up the initial 18-acre phase of the mixed-use development that’s planned to ultimately span 67 acres.
While Diamond District Partners officially broke ground on the initial mixed-use district a little over a year ago, construction and other logistics tied to the ballpark caused some infrastructure delays.
Construction around CarMax park is ramping up, as the Diamond District Partners welcomes a new hotel developer and restaurant group into the fold. Work on the apartment building is set to get underway this June with completion targeted for early 2028.
Swift Creek Mill Theatre seeks financing for second act
Reported by BizSense’s Jackie DiBartolomeo
A financial crisis caused the Swift Creek Mill Theatre to abruptly halt performances in early May, but leaders of the 60-year-old theatre that also serves as playhouse and restaurant, are seeking means to reopen the beloved space.
Theatre Managing Director Steve Koehler claims that lower ticket sales and long-term cash deficits severely impacted the venue’s operations since the theatre transitioned to a non-profit 25 years ago.
Since the shutdown was announced, around $50,000 in donations have come in to support the reopening effort.
The nonprofit’s board members and administrators are spending the summer reviewing finances and operational costs before reconvening with a possible reorganization plan at its Aug. 17 meeting.
Carytown bike shop owner opens second store in Church Hill
Reported by BizSense’s Jack Jacobs
A familiar name in Richmond’s cycling community is expanding. Joel Alford, owner of ReCycles bike shop on Cary Street, has opened a second store called Field Trip Bikes in Church Hill, taking over the former Wheel Simple and Cyclus before that.
Field Trip Bikes is expected to focus on neighborhood cycling for both longtime riders, as well as equipment for bikepacking — an activity that combines off-road cycling and camping.
Field Trip has a five-year lease on its space at 2225 E. Clay St.
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