A 7,500-seat outdoor concert venue that will feature 25 to 30 concerts each season is likely headed to the Richmond riverfront.

Rejecting calls for delay from a representative from the Virginia War Memorial and residents of the nearby Oregon Hill neighborhood worried about the impact, a unanimous City Council this week put the proposed $30.5 million amphitheater on the fast track for approval at its upcoming meeting on Monday, June 12.

The location is a 9-acre parcel at 470 Tredegar St. Better known as Gambles Hill, the property is owned by New Market Corp., which has agreed to lease the acreage for the complex.

Projected to open in 2025, the amphitheater will be paid for by the development team led by R. Coran Capshaw’s Red Light Management, which is partnering with national entertainment firm Live Nation.

Under a performance agreement that the council is poised to approve, the team will build the venue and then receive reimbursement from the city for 20 years all of the new real estate, admissions and sales taxes that that the operation generates. The city projects that it will contribute about $27 million to the project through around 2043.

The property is valued at around $15.5 million and generates $189,000 a year in real estate taxes, which the city will still collect and retain.

Leonard Sledge, city director of economic development, told the council that the venue is projected to generate more than $600,000 year in new revenue for the city through increased property values and development.

Under the deal, Mr. Capshaw has committed to a goal of having 40 percent of the construction work performed by Black-and minority-owned businesses. After completion, the bathrooms at the site are to be open to the public on days when no concerts are scheduled, while the venue itself will be available for use at cost to nonprofits and the city.

Mr. Capshaw is well known in the music industry. His companies manage more than 400 recording artists and have been involved in building amphitheaters in Charlottesville and Nashville. The national entertainment group Live Nation is a partner and will arrange for Richmond to be part of the circuit of outdoor venues hosting summer concerts.

During Monday’s council committee session, Dr. Clay Mountcastle, executive director of the Virginia War Memorial, which honors Virginia service men and women who died in military conflicts, urged council to postpone action.

He said he was concerned that the new venue could interfere with programs at his venue and wanted time to meet with Mr. Capshaw and others involved with the project to prevent conflicts.

Council members said those issues could be dealt with after the performance agreement was passed to ensure the financing was in place.

Residents, including Charles Pool and Bryan Green, who represent Oregon Hill civic groups, urged a delay to ensure the new amphitheater could moderate sounds and prevent concert-goers from taking all the street parking spaces, a common occurrence now when the Folk Festival and events at Brown’s Island are held.

Fifth District Councilwoman Stephanie A. Lynch noted that the new venue would be subject to Richmond’s noise ordinance barring loud sounds after 10 p.m., which should reduce that problem.

Mr. Capshaw and his team also assured council that every effort will be made to encourage concert-goers to use nearby decks and parking lots, rather than flooding into Oregon Hill.