Capital Square Breaks Ground on MXU OZ Project in Richmond
August 18, 2020
Capital Square has announced the groundbreaking of Scott’s Collection, a ground-up, mixed-use project in the Scott’s Addition designated opportunity zone in Richmond.
Located at 3000–3008 West Clay St., the project is a single-structure, ground-up development that will include a five-story multifamily community with 80 units. The project will also feature a 3,700-square-foot, elevated courtyard and 65-70 onsite parking spaces. Scott’s Collection I is the first in a group of three developments that will make up “Scott’s Collection” in Scott’s Addition.
The development of Scott’s Collection I is the direct result of CSRA Opportunity Zone Fund I, LLC, a project-specific opportunity zone fund launched by Capital Square in July 2019. The opportunity zone fund raised equity to begin the development of the project. M&T Bank provided the construction loan for the project while Urban Core Construction has been tapped to build the ground-up development.