The future CarMax Park stands as a significant development, set to replace The Diamond and anchor the 67-acre Diamond District. This two-part series delves into the intricate process that led to its creation. (Image courtesy Richmond Flying Squirrels)

Unraveling the Journey of CarMax Park's Development

Part 1: The Urgency and Challenges

In early 2023, Todd “Parney” Parnell, then the VP and COO of the Richmond Flying Squirrels, sent an urgent email emphasizing the tight timeframe to deliver a new ballpark by Opening Day 2025. The group was facing the deadline set by Major League Baseball for all pro baseball venues to meet required facilities standards. Parnell's message, ending with “LFG” (Let’s freaking go), showed the stress and urgency.However, three months later, despite reaching final terms for a deal between the City of Richmond and RVA Diamond Partners, the lead developer, D.C.-based Republic Properties, refused to sign off and withdrew from the project. This hung over the larger Diamond District project.A year later, days before City Council OK’d a reworked deal with Diamond District Partners, Republic principal Jordan Kramer requested a call to discuss a settlement. But the city's chief administrative officer, Lincoln Saunders, was unclear about what needed to be discussed as the city had terminated negotiations a year ago.

Part 2: The Design Process and Tensions

By the time Parnell sent his “Napkin Numbers” email, RVA Diamond Partners was in the process of a design charette involving Flying Squirrels staff and VCU Athletics. But as months passed, the ballclub's leadership became frustrated with the progress given the MLB deadline.In April 2022, Flying Squirrels President Lou DiBella publicly expressed dissatisfaction, stating there had been “little progress on plans for a new stadium” and questioning the team's future in Richmond. At the same time, DiBella warmed to David Carlock of Machete Group, who led the runner-up development team.Tensions grew between the developers and the Squirrels, as well as between the city and Republic. Republic sent a list of issues with the project, including concerns about the ballpark budget. A gulf formed over the desired capacity and cost, with the Squirrels insisting on a 10,000-seat venue, pushing the cost to over $117 million.Despite efforts like a group call with MLB-owned Minor League Baseball and a trip to Kansas City to tour a stadium, trust between the parties was strained. DiBella's public comments further damaged the relationship.In early April 2023, Republic notified the city of its exit from the project, citing internal issues. The city then terminated negotiations with RVA Diamond Partners as they failed to deliver required documents.With the MLB deadline looming, the timing of the ballpark became more urgent. Months before, the city had to spend $3 million on upgrades to The Diamond to keep the Squirrels playing. Eventually, the original development deal was reached, but the ballpark would now aim for spring 2026.Look for Part 2 of this story in tomorrow's BizSense.