Richmond buys former casino site for $5.5 million, plans park and development

The City of Richmond, Virginia, has finalized the $5.5 million purchase of a 96-acre Southside property that twice failed to gain voter approval for a casino development, local officials said.

The land, previously owned by Philip Morris USA, was once proposed as the site for ONE Casino + Resort, which would have been the first Black-owned casino in the United States. Voters narrowly rejected the project in a 2021 referendum, and turned it down again by a wider margin in 2023.

Following the failed bids, state lawmakers blocked the city from holding further referendums and reassigned the casino license to nearby Petersburg, where voters approved a project led by The Cordish Companies.

The newly acquired land, located near Interstate 95 off Walmsley Boulevard, includes parcels at 2001 Walmsley Blvd and 4700 Trenton Ave. The site housed a now-vacant Philip Morris operations center that the tobacco company will demolish as part of the deal.

“This marks a pivotal step in our commitment to accessible community green space, new economic development, and greater transit connectivity for generations to come,” said Sharon Ebert, Richmond’s deputy chief administrative officer for planning and economic development.

The city plans to designate 45 acres of the property for a public park, 45 acres for economic development, and the remaining six acres for a new east-west connector road. Officials said it will be the Southside’s first public greenspace in an area traditionally dominated by industrial uses.

“When the casino failed, it was a council discussion to make sure we don’t lose sight of economic development in the Southside,” said Councilor Kristen Nye, who represents Southwest Richmond.

A market study will help determine the “best and highest” uses for the development portion, and city administrators plan to seek proposals that include commercial growth and workforce development initiatives.

The $5.5 million purchase price was slightly below the city’s most recent assessment of the property, valued at over $5.6 million. The acquisition is part of a $10 million allocation by the City Council to boost investment in South Richmond.

Demolition and utility disconnection work will continue through the year. Community engagement for the park design is expected to begin later in 2025.