FA Cup giantkilling boss' contribution acknowledged.There is also work planned to remember other former U's heroes in the Legends Lounge, which sits alongside Hot Shots at the front of the West Stand at the Weston Homes Community Stadium.
Dick becomes the first person to have a room named after him at both Colchester United stadiums, having previously had the hospitality lounge at Layer Road in his name.
A series of canvasses chronicling his time at Layer Road have already been installed and further developments are planned, including a further piece of artwork detailing not only his time at Colchester United, but his playing and managerial efforts.
Wife Anne, sons Mark and Richard and grandson Louis - son of former U's player Phil Bloss - were all in attendance for the formal unveiling of the Dick Graham Lounge.
And, a week before the modern U's embarked on this year's FA Cup adventure with Sunday's game against Gosport, Dick's contribution was formally acknowledged.
Dick was, of course, the manager who led the U's to that infamous FA Cup giantkilling against Leeds United in 1971 - a result that created headlines around the world.
During the summer, the club decided to rename the Directors' Guest Lounge to the Dick Graham Lounge, to acknowledge the efforts of the former U's boss and his stint at the club in the late 1960s and early 1970s.
Saturday's game against Port Vale saw the club remember one of their most notable managers ahead of kick-off.