Capital Square has fully subscribed its CSRA Opportunity Zone Fund VII.
The offering, which raised nearly $65 million from accredited investors, comprises a 352-unit multifamily community development in Richmond, Va.’s Scott's Addition qualified opportunity zone. In August 2024, Capital Square launched CSRA Opportunity Zone Fund IX to fund the development of a mixed-use apartment community and luxury hotel in Scott's Addition.
Located in the heart of Scott's Addition, Richmond's premier dining and entertainment neighborhood, the community will include three six- and seven-story multifamily buildings above podium parking with more than 5,350 square feet of ground-level retail space. Units will average 845 square feet with premium finishes and appliances.
Capital Square has been the most active developer within the Scott's Addition neighborhood since 2020, having completed four class A multifamily communities: INK at Scott's Collection, VIV at Scott's Collection