Between 1963 and 1965, there was a "downtown boom" that led to the construction of more than 700 buildings in the city. In 1968, Virginia Commonwealth University was created by the merger of the Medical College of Virginia with the Richmond Professional Institute. In 1970, Richmond's borders expanded by an additional 27 square miles (70 km2) on the south. After several years of court cases in which Chesterfield County fought annexation, more than 47,000 people who once were Chesterfield County residents found themselves within the city's perimeters on January 1, 1970. In 1996, still-sore tensions arose amid controversy involved in placing a statue of African American Richmond native and tennis star Arthur Ashe to the famed series of statues of Confederate heroes of the Civil War on Monument Avenue. After several months of controversy, the bronze statue of Ashe was finally completed on Monument Avenue facing the opposite direction from the Confederate Heroes on July 10, 1996.

When did the so-called downtown boom in Richmond end?