The Richmond Flying Squirrels Transform Their Future With New Stadium

The Richmond Flying Squirrels Double-A baseball team has been in Virginia since 2010, a year after the Atlanta Braves’ affiliate left town. The team has been a consistently strong performer and has topped all Double-A team average attendance for the past two seasons. What the Squirrels have been missing until now is a stadium that matches their ambitions.

At the start of the 2026 season, the Richmond Flying Squirrels will move into their new stadium, CarMax Park. The new venue will seat 10,000 spectators and, weather permitting, will have the capacity to host large-scale events year-round. The $110 million stadium will also be the centerpiece of the new Diamond District, a 67-acre development project that aims to transform the area around the ballpark into a mix of residences, commercial space, and green space.

Rhode Island firm Gilbane Building Co. and Virginia-based Prestige Construction Group are building CarMax Park. Machete Group, a venue advisory firm with experience delivering stadium projects for MLS, NBA, NFL, and NHL clients, is managing the new ballpark.

It has been a long road to this moment. Squirrels’ owner Lou DiBella says that when he agreed to bring the team to Richmond, he was promised a new ballpark within three years. His gut told him it would take longer than that, but he says, “I didn’t expect 16 years.”

Speaking to me over the phone, DiBella said that the Squirrels’ current stadium, The Diamond, “was obsolete when we moved into it.” The Diamond was built in 1984 and hasn’t seen many refurbishments since. It has a capacity of over 12,000, but for safety and advertising purposes, the upper deck is closed off for Squirrels games, limiting seats to just 9,500. Concessions are limited as are points of purchase, and lines often go around the concourse at one of the best-attended stadiums in the Minor Leagues. DiBella notes that on rainy days, “the ceiling leaks onto our employees’ heads.” For elderly fans, The Diamond is particularly difficult to enjoy. To get into the park, there is a giant cement staircase, and once inside, there is only one elevator that can transfer fans from the lower to the upper concourses.

Over the past sixteen years, DiBella has spent millions patching up a decrepit ballpark that has been home base for his club and the Virginia Commonwealth University baseball team. Despite success on the field and strong attendance, the Squirrels haven’t been able to maximize their revenue and continue to fall behind their competitors. At the same time, DiBella has been working with lobbyists, lawyers, and countless mayoral administrations to deliver a new home for his players and fans.

Seeing the project get delayed time after time, DiBella began to lose faith. He admits he was “really despondent,” adding, “I never thought we’d be where we are today.” However, the team’s fortunes changed around the COVID-19 pandemic. Major League Baseball took full control of its minor leagues and delivered Richmond an ultimatum. The Squirrels were told they needed a new ballpark by April 2025 or baseball would leave Richmond for good.

Major League Baseball’s ultimatum spurred DiBella and his team on. As he noted, “I was operating to save my business and save baseball for Richmond.” In 2023, with his back against the wall, DiBella finally put together a proposal that pleased all parties. Having felt like Don Quixote fighting the windmills for a decade, DiBella is thrilled that CarMax Park is “comfortably on schedule” to be ready for Opening Day of the 2026 season.

Although most players have historically enjoyed playing for Richmond, DiBella is convinced this will take their appreciation for the club and the city to a new level. In his words, the move from The Diamond to CarMax Park is “like going from a Motel 6 to a Four Seasons.”

CarMax Park is the latest in a line of new sports stadiums offering a premium experience in smaller-market American cities. It also follows the macrotrend of mixed-use sports developments that help rejuvenate a particular neighborhood within a city.

According to David Carlock, Founder and Managing Partner of Machete Group, a new stadium, like CarMax Park, simply offers a better live experience. Traditionally, attending games offered better resolution, proximity to the action, stats boards, and a sense of community. With modern technology, the stats boards, resolution, and even proximity to the action can feel similar from the living room. What stadiums continue to offer are a sense of connection to fellow fans and an array of products specifically designed to enhance viewer entertainment.

The Diamond is being replaced with a state-of-the-art facility with an industrial design that pays homage to Richmond’s railway heritage. The new ballpark will offer more concessions and points of purchase, traditional suites, dugout suites, boxcar suites built out of surplus railway boxcars, and party decks, which have no seating but provide a fun space for kids to run around and play while adults relax with bar access.

Carlock says this design is consistent with what he is “seeing in many secondary and some primary markets.” The smart design of a new stadium, alongside apartments and commercial space, can attract human capital and open cities like Richmond up to new possibilities. As Carlock notes, cities like Richmond are working to retain their graduates and attract new companies. CarMax Park can be a source of attraction, delivering quality entertainment (baseball and concerts) at a lower cost than in premier markets, while driving other hospitality opportunities.

Carlock fully expects that “old stadium builds will become the exception to the rule.” As municipalities and team owners look to maximize their revenue streams, they will continue to invest in mixed-use properties that offer an array of services. A Minor League Baseball stadium has 71 home games per year, plus the ability to host an extra 20 to 40 events depending on weather, staff, and other factors. Moreover, Carlock argues that sports franchises have realized that fans associate whatever happens around their team’s venue with the team. Neighborhoods and eateries in the vicinity become intertwined with the overall experience. Ownership groups that invest in these areas, like the Baltimore Orioles in Camden Yards, control the value and experience the fan walks away with. These ballpark neighborhoods also generate higher foot traffic and more media exposure.

After sixteen years, the Richmond Flying Squirrels will finally have a new home. The ballpark is expected to transform part of Richmond’s downtown and transform the gameday experience for players and fans alike. Owner Lou DiBella is just happy the work is behind him. As he says, he’s taking a “great degree of satisfaction in finally getting it done.” Now, the Squirrels can just focus on their baseball.