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It’s been an iconic example of what planners and architects like to call adaptive reuse of historic buildings – even though the roughly century-old commercial buildings that opened the door to tax-credit financed redevelopment in Scott’s Addition aren’t everyone’s notion of landmarks of the past – but the neighborhood has been changing.
If you look down the street in Richmond's Scott's Addition neighborhood, you'll see patched potholes and new pavement. It's part of a $1.2 million improvement plan for the Richmond neighborhood.
RICHMOND, VA - Capital Square, one of the nation's leading sponsors of tax-advantaged real estate investments and an active developer of multifamily communities, announced it has broken ground on a 352-unit, Class A multifamily development in the Scott's Addition neighborhood of Richmond, Virginia, located within a designated qualified opportunity zone. Construction of the development is expected to be completed by Spring 2025.
Richmond might be approaching its 300th birthday, but it can still pull off some fairly agile moves.
Dozens gathered on Tuesday for the introduction of the chosen development team for the $2.4 billion project to redevelop the 67 acres of land in Scott's Addition.