The project-specific opportunity zone fund will raise capital to develop approximately 350 apartment units in the Scott’s Addition neighborhood of Richmond, Va.
CSRA Opportunity Zone Fund VII seeks to raise $41.44 million in equity from accredited investors. This is Capital Square’s seventh opportunity zone fund and fifth apartment community being developed in Richmond.
“Capital Square’s development team is on track and on budget in the development of five Class A apartment communities in Richmond and Raleigh, North Carolina, in spite of a global pandemic that has put many developers on the sidelines,” said Louis Rogers, founder and CEO of Capital Square. “It is a testament to Capital Square’s strength that development activity has actually increased dramatically at a time like this.”
Located at 2935 W. Clay St., 2944 W. Marshall St. and 2931 W. Marshall St., the community will include three five- and six-story residential buildings above podium
