RICHMOND, Va. (WRIC) -- The city of Richmond announced on Wednesday that the Diamond District project received over $10 million in additional funding from the Central Virginia Transportation Authority (CVTA). On Wednesday, Jan. 28, the city of Richmond stated in a press release that last week, the CVTA had approved a funding request of more than $10 million for the support of the development of Richmond's Diamond District project. The approved funds will go towards improving traffic signs along Arthur Ashe Boulevard and Hermitage Road, and additional streetlights and stormwater runoff drains for lower elevated areas. “I’ve said it before, but it’s true: the vision for Diamond District is transformational not just for the City, but for the region,” said Richmond Mayor Danny Avula in a release. “I’m incredibly grateful to CVTA and our regional partners for sharing this vision and for their support in moving Diamond District forward. We are all sure to benefit from the project, and I look forward to celebrating every milestone along the way, together." Construction for about six acres of the surrounding district is officially underway. This is Phase 1A of a three-part development plan that began in March 2025 and is expected to be completed in March 2027. “With the CVTA’s support, we’re able to keep development on pace to meet our March 2027 target,” said Deputy Chief Administrative Officer Sharon Ebert in a release. “This means that downstream construction, including the remainder of Phase 1A, can continue unabated by delays to public infrastructure work. This is a major hurdle to have cleared for our short- and long-term development goals, and we’re pleased to have done so with the support from our neighbors and partners.”  The CVTA was established in 2020 and generates and manages local funds in order to assist with any regional transportation needs, according to the release. Nine jurisdictions within the CVTA Richmond region includes city of Richmond, the town of Ashland in Hanover County and the surrounding counties to improve transportation safety, accessibility, economic development and overall create a better life. “This is a perfect example of regional collaboration gone right” said Department of Public Works Deputy Director and CVTA TAC Board Member Dironna Moore Clarke in a release. “Funding projects like this is exactly why the CVTA exists. By helping to improve the transportation infrastructure around what is sure to be a regional entertainment hub, the CVTA is advancing safe, accessible spaces for all to enjoy.”  ...read more read less