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Middleburg, Harbor Group International Close Financing for Richmond MF Development
Middleburg and Harbor Group International announced the closing of construction financing for Scottwood, a 299-unit multifamily development located at 4400 West Broad Street in Richmond, Virginia.
Construction is set to start in April, with initial deliveries anticipated in late 2027. Financing was provided by Truist Bank. Situated just west of the city’s Scott’s Addition District near Topgolf Richmond, Scottwood will span two four-story buildings, one with 132 units and the other with 167.
“This corridor has a real rental housing demand, and we are committed to delivering a community that meets it in quality, in amenities, and in its role in the future of this part of Richmond,” said Ross Magette, Development Partner for Middleburg.
Scottwood will deliver near top-of-market quality at a more attainable rent level and the project features individually curated courtyards throughout the property and activated amenity spaces along the West Broad Street frontage.
