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Capital Square Secures Construction Loan for Mixed-Use OZ Project in Richmond

Capital Square has secured a loan from Fulton Bank to construct Scott’s Collection II, a mixed-use multifamily property in the Scott’s Addition designated opportunity zone in Richmond.

Located at 2900–2904 West Clay St., Scott’s Collection II is a single-structure, ground-up development that will include a five-story, multifamily community comprised of 60 units. Part of a collection of three mixed-use multifamily properties, Scott’s Collection II is Capital Square’s second development project and part of the transformation of Scott’s Addition from an industrial part of Greater Richmond into a thriving modern, urban residential and retail destination. The first phase of Scott’s Collection broke ground on Aug. 18.

Jamie Butler of Walker & Dunlop represented Capital Square in securing the construction loan for Scott’s Collection II from Fulton Bank. The amount of financing was not disclosed.

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About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

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