Washington DC CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Capital Square Secures Construction Financing for Mixed-Use OZ Project in Richmond
Capital Square has secured construction financing for Scott’s Collection I, a mixed-use multifamily property in the Scott’s Addition designated opportunity zone in Richmond. M&T Bank provided the financing. The amount was not disclosed.
Located at 3000 – 3008 West Clay St., Scott’s Collection I is a single-structure, ground-up development that will include a five-story multifamily community with 80 units, a 3,700-square-foot, elevated courtyard and 65-70 onsite parking spaces.
The project 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.
Jamie Butler of Walker & Dunlop secured the construction loan on behalf of Capital Square.
For comments, questions or concerns, please contact David Cohen
- ◦Development
