Riverfront amphitheater moving forward after deal reached
May 23, 2023 7:54:19 GMT -5
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Post by TOO $ on May 23, 2023 7:54:19 GMT -5
Richmond’s version of Red Rocks is ready to rock on.
The group behind the proposed Richmond Amphitheater announced Monday it has worked out a performance grant agreement with the City of Richmond to make the downtown riverfront venue a reality in time for the 2025 outdoor concert season.
The agreement was to be introduced by the Richmond City Council at its meeting Monday night, according to a release from the group led by Coran Capshaw’s Red Light Ventures. A vote to approve the agreement would come at a future meeting.
Pending council approval, the city would provide a 20-year performance grant based on the new incremental real estate and admissions tax revenue generated by the project to help offset the project cost.
The release added that the group is aiming to start construction this summer to open the amphitheater in time for the 2025 season. The 7,500-capacity venue would host 25 to 35 acts a year, and the arrangement with the city would allow Richmond and local nonprofits to utilize the venue for civic events, including graduation ceremonies, public forums and city-sponsored cultural events.
The $30 million project is to be paid for by Capshaw’s group, which would lease the 4-acre site on the hillside behind the Tredegar Iron Works complex from property owner NewMarket Corp.
“Creating a Richmond amphitheater has been a long-term goal of veteran music industry executive Coran Capshaw of Charlottesville,” the release said. “Approval of the performance grant by City Council is the first step.”
The 7,500-seat outdoor amphitheater would fill a 4-acre site uphill from Tredegar.
Capshaw, who manages the Dave Matthews Band and is involved in the ownership or management of similar venues across the country, led the development of Ting Pavilion, the 3,500-seat amphitheater on Charlottesville’s Downtown Mall. His Red Light Management group also co-manages the 6,800-capacity Ascend Amphitheater in Nashville.
The group has compared the Richmond venue in size to Nashville’s Ascend Amphitheater and the Live Oak Bank Pavilion in Wilmington, North Carolina. The Richmond Amphitheater is planned for a total capacity of 7,500, with three sections of fixed seating, pit seating and a lawn facing a covered main stage that would be framed against Tredegar.
The 7,500-capacity venue would include fixed seating, pit seating and a lawn facing a covered main stage.
Monday’s release included quotes attributed to Capshaw and city officials. The release quoted Capshaw as saying Richmond “is known for its vibrant arts and music scene, but for too many years, big-name artists have bypassed the city because it didn’t have a suitable venue.”
“This spectacular location offers the ideal place to showcase and build upon the growing energy surrounding Richmond’s riverfront,” Capshaw said.
In his comments, Richmond Mayor Levar Stoney referred to the amphitheater as “the Riverfront Performing Arts Venue,” in relation to the grant agreement.
“An amphitheater for Richmond will attract tourism from across Virginia, enhance investments and revenue for our city, and provide patrons with endless entertainment opportunities. This amphitheater agreement is yet another example of Richmond’s strong economy,” Stoney said.
The venue would also showcase the site’s historic features, including stonework along the canal and other ruins on the site that would be preserved. Existing parking in the area is expected to accommodate the venue, similar to the Richmond Folk Festival and other events held at the riverfront.
Plans for the amphitheater were unveiled by BizSense last summer. The group had initially aimed to strike a deal with the city last fall, but negotiations continued through this year, prompting the group to push back its opening by a year.
The group behind the proposed Richmond Amphitheater announced Monday it has worked out a performance grant agreement with the City of Richmond to make the downtown riverfront venue a reality in time for the 2025 outdoor concert season.
The agreement was to be introduced by the Richmond City Council at its meeting Monday night, according to a release from the group led by Coran Capshaw’s Red Light Ventures. A vote to approve the agreement would come at a future meeting.
Pending council approval, the city would provide a 20-year performance grant based on the new incremental real estate and admissions tax revenue generated by the project to help offset the project cost.
The release added that the group is aiming to start construction this summer to open the amphitheater in time for the 2025 season. The 7,500-capacity venue would host 25 to 35 acts a year, and the arrangement with the city would allow Richmond and local nonprofits to utilize the venue for civic events, including graduation ceremonies, public forums and city-sponsored cultural events.
The $30 million project is to be paid for by Capshaw’s group, which would lease the 4-acre site on the hillside behind the Tredegar Iron Works complex from property owner NewMarket Corp.
“Creating a Richmond amphitheater has been a long-term goal of veteran music industry executive Coran Capshaw of Charlottesville,” the release said. “Approval of the performance grant by City Council is the first step.”
The 7,500-seat outdoor amphitheater would fill a 4-acre site uphill from Tredegar.
Capshaw, who manages the Dave Matthews Band and is involved in the ownership or management of similar venues across the country, led the development of Ting Pavilion, the 3,500-seat amphitheater on Charlottesville’s Downtown Mall. His Red Light Management group also co-manages the 6,800-capacity Ascend Amphitheater in Nashville.
The group has compared the Richmond venue in size to Nashville’s Ascend Amphitheater and the Live Oak Bank Pavilion in Wilmington, North Carolina. The Richmond Amphitheater is planned for a total capacity of 7,500, with three sections of fixed seating, pit seating and a lawn facing a covered main stage that would be framed against Tredegar.
The 7,500-capacity venue would include fixed seating, pit seating and a lawn facing a covered main stage.
Monday’s release included quotes attributed to Capshaw and city officials. The release quoted Capshaw as saying Richmond “is known for its vibrant arts and music scene, but for too many years, big-name artists have bypassed the city because it didn’t have a suitable venue.”
“This spectacular location offers the ideal place to showcase and build upon the growing energy surrounding Richmond’s riverfront,” Capshaw said.
In his comments, Richmond Mayor Levar Stoney referred to the amphitheater as “the Riverfront Performing Arts Venue,” in relation to the grant agreement.
“An amphitheater for Richmond will attract tourism from across Virginia, enhance investments and revenue for our city, and provide patrons with endless entertainment opportunities. This amphitheater agreement is yet another example of Richmond’s strong economy,” Stoney said.
The venue would also showcase the site’s historic features, including stonework along the canal and other ruins on the site that would be preserved. Existing parking in the area is expected to accommodate the venue, similar to the Richmond Folk Festival and other events held at the riverfront.
Plans for the amphitheater were unveiled by BizSense last summer. The group had initially aimed to strike a deal with the city last fall, but negotiations continued through this year, prompting the group to push back its opening by a year.
