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Washington DC   /   October 6, 2020

David Cohen
By: David Cohen

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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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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