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Capital Square, Greystar Launch O-Zone Fund in Richmond
Capital Square and joint venture partner Greystar have announced the launch of CSRA/GS Opportunity Zone V. The project-specific opportunity zone fund is raising capital to develop 1601 Roseneath Road, a 350-unit multifamily community with ground-floor retail space, in the Scott’s Addition designated opportunity zone in Richmond.
The project will be a six-story, multifamily community with 15,000 square feet of retail space. The 2.28-acre property will have 380 onsite parking spaces. Established in 1901, Scott’s Addition is a historic area that is now one of the City of Richmond’s fastest growing neighborhoods. The project will be co-developed by Capital Square and Greystar.
“Capital Square is thrilled to enter this joint venture with Greystar Real Estate Partners to develop a Class A, mixed-use multifamily community in Scott’s Addition,” said Louis Rogers, CEO at Capital Square. “Greystar is the largest property manager in the nation, as well as a top 10 builder and owner of apartment communities.”
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