Richmond Historic District Lawsuit Freezes $350M Redev
40 Million Legal Battle Halts Major Diamond District Development Richmond's largest redevelopment project is facing increased legal pressure. A $40 million lawsuit has brought the Diamond District's $2.4 billion mixed-use development into prolonged uncertainty. Republic Properties has launched the legal challenge against former partners Thalhimer Realty Partners and Loop Capital. The allegation is a breach of contractual obligations central to their original collaboration. The controversy stems from Republic's exclusion from the joint venture. This exclusion followed Republic's withdrawal from the 67-acre redevelopment project. Republic claims its former partners violated an agreement. They allegedly formed a new development entity without proper authorization. Thalhimer and Loop Capital pushed forward the stadium-anchored project. This move occurred despite Republic's involvement in the initial planning phases. Loop Capital denies signing partnership agreements. Th...