Capital Square and Greystar have acquired 2.28 acres of land in the Scott’s Addition opportunity zone of Richmond, Va. The land will be used for the development of 1601 Roseneath Road, a 350-unit multifamily development with ground-floor retail space.
Located at the intersection of two main thoroughfares in Scott’s Addition, 1601 Roseneath Road will be a six-story, class A multifamily community with 15,000 square feet of retail space. The 2.28-acre property will have 380 onsite parking spaces. Capital for the development is being raised through CSRA/GS Opportunity Zone V, a $32.4 million project-specific opportunity zone fund that is open to accredited investors.
The project is being developed by Capital Square and Greystar, a global leader in the investment, development and management of high-quality rental housing properties. Based in Charleston, S.C., Greystar is the largest manager of multifamily properties in the world, and the largest developer of multifamily
