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.
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.
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