FALLS CHURCH, VA – NexCore Group, a privately-owned diversified healthcare real estate development, investment, and management company with a national footprint spanning 29 states, and its vertically-integrated senior housing operator, Experience Senior Living (ESL), proudly announce the start of construction of The Reserve at Falls Church, located in the West Falls neighborhood. The new 15-tale community features 215 elegantly appointed homes, including a one-of-a-kind penthouse level. This community is the eighteenth senior living development for NexCore and ESL and the second development in The Reserve Collection, the company’s luxury line of senior communities.
“Breaking ground on The Reserve at Falls Church reflects NexCore’s steadfast belief in the future of senior living. As today’s aging demographic continues to grow, we are focused on developing communities that meet their evolving needs, offering modern spaces that foster independence and connection. We are driven by the opportunity to make meaningful, purpose-driven environments that enrich the lives of those who call them home.” Stated Jarrod Daddis, President of NexCore Group.
NexCore partnered with an affiliate of Nuveen Real Estate to capitalize the project. This is the third ground-up senior living development project on which both companies have collaborated. “The Reserve at Falls Church aligns with Nuveen’s focus for developing state-of-the-art senior living communities for the next generation of seniors in high-barrier-to-entry submarkets like Falls Church,” noted Andrew Pyke, Head of Healthcare Real Estate at Nuveen. “We are excited to partner again with a first-class developer in NexCore and an operator in ESL to bring this project to the greater DC community.”
The Reserve at Falls Church offers an unparalleled host of high-end amenities for residents. Dining options will feature certified organic ingredients and will be available from multiple restaurants within the community, including a chophouse, a seafood restaurant, an oyster bar, and a cocktail lounge. Other amenities include an indoor saltwater pool and spa, a state-of-the-art fitness center, and an expansive maker space designed for creative expression and lifelong learning. The community will also offer concierge services, valet parking, and electric vehicle transportation options.
“We’re excited to bring The Reserve at Falls Church to life and are thrilled to be able to offer our award-winning continuum of care, allowing residents of Falls Church to remain close to their friends and family and delight in the lifestyle they’ve grown accustomed to,” said Phill Barklow, President of Experience Senior Living. “The Reserve is the pinnacle of luxury among senior communities and offers more than just a place to live—it’s a community of connection and purpose where residents can delight in elevated living, unparalleled care, and a deep sense of connection to their community.”
The Reserve at Falls Church seamlessly integrates into West Falls, a multiphase, mixed-use, transit-oriented neighborhood. Spanning 1.2 million SF across nearly 10 acres of land, West Falls is the largest development in the city’s history. West Falls serves as a gateway to the city and a vibrant gathering place for all, featuring modern residences at The Oak and The Alder, curated retail and dining, Home2 Suites by Hilton, The Wellness Center, a medical office building, and The Commons, the neighborhood’s central outdoor gathering space. Hoffman & Associates, the master developer of West Falls, is a nationally recognized leader in both residential and mixed-use development across the Mid-Atlantic and Southeast.
The Reserve at Falls Church, expected to open in the spring of 2027, is NexCore’s second senior living development in Virginia and expands ESL’s operating presence in the state.

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CHARLOTTE, NC – Thompson Thrift, a full-service nationally recognized real estate company, announced the sale of Taylor Farms, a 276-unit, Class A multifamily community 20 minutes from Uptown Charlotte. The Northmarq team led by John Currin, Andrea Howard, Allan Lynch, Caylor Mark, Jeff Glenn and Austin Jackson brokered the sale to Atlanta-based Mesa Capital Partners.
“Taylor Farms was our first multifamily community in the Carolinas and we were fortunate to capitalize on its prime location to bring a high-quality community to one of the nation’s hottest rental submarkets,” said Josh Purvis, managing partner for Thompson Thrift Residential.
John Currin, senior vice president, Northmarq, continued, “Taylor Farms was one of Charlotte’s most competitive 2024 marketing campaigns due to Thompson Thrift’s strong national reputation as a high-quality developer and Northeast Charlotte’s economic growth trajectory that continues to outperform other submarkets in the MSA.”
Located just off of I-485 and Mallard Creek Road in the University City submarket, the 16-acre Taylor Farms features 276 apartment homes in eight three-tale, garden style structures and 64 detached garages.
Completed in December 2023 and already reaching stabilization, each of the one-, two- and three-bedroom layouts are well-appointed with premium finishes, including gourmet bar-kitchens with quartz countertops, stainless-steel appliances, smooth glass cooktop stoves and under cabinet lighting; primary bedrooms with walk-in closets and a walk-in shower with full tile surround and glass doors; and full-size washers and dryers.
Additionally, residents delight in resort-style amenities, including a professionally designed clubhouse with TVs, conference rooms, technology centers and more; a 24-hour fitness center with state-of-the-art equipment and Fitness On Demand virtual training kiosks and spinning rooms; a swimming pool with hot tub and sundeck, entertainment areas and pet-friendly bark parks and doggie spas.
With its convenient location near the I-485/I-85 interchange, Taylor Farms offers simple access to over 3,000 northeast corridor businesses and the well loved PNC Music Pavilion and the world-well-known Charlotte Motor Speedway are both minutes away.
Equity for the development was provided by the Watermark 2021 Multifamily Development Fund III LP.
Thompson Thrift is a full-service real estate development company focused on ground-up commercial and mixed-use development across the Midwest, Southeast and Southwest. Since its founding more than 30 years ago, Thompson Thrift has invested more than $6 billion into local communities and has become known as a trusted partner committed to developing high-quality, attractive commercial and multifamily communities.

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RICHMOND, VA – Capital Square, one of the nation’s leading sponsors of tax-advantaged real estate investments and an active developer and manager of housing communities, announced the topping out of Chasen, a 352-unit, multifamily community development in Richmond, Virginia’s Scott’s Addition qualified opportunity zone. The development, funded by equity raised by CSRA Opportunity Zone Fund VII, LLC, broke ground in April 2023 and is the fifth opportunity zone development the company has topped out in Scott’s Addition during the past four years.
“Capital Square want to thank the many investors and financial advisors across the nation who had the foresight to invest in Capital Square’s fifth opportunity zone fund in Scott’s Addition,” said Louis Rogers, founder and co-chief executive officer of Capital Square. “By investing in this manner, investors are able to defer and exclude capital gains from the sale of any asset. The tax benefits incentivize investors to fund new developments that generate meaningful economic activity, new jobs and tax revenue for localities. This is a win-win for all the parties.”
Upon completion, the community will include three six- and seven-tale adjoining multifamily buildings above podium parking comprised of studio, one-, two-, and three-bedroom apartments with over 5,350 square feet of ground-level retail space. Units will average 845 square feet in size with premium finishes and appliances including quartz countertops, tile backsplashes and luxury vinyl plank flooring throughout. Resident go-ins are anticipated to start at the property, located at 2929 W. Clay St., 2922 W. Marshall St., and 2925 W. Marshall St., in summer 2025.
Community amenities will include a resort-style saltwater pool, lounge and golf simulator, fitness club with studio, co-working lounge with private offices, pet spa, bike storage and repair, lush courtyards and a rooftop lounge with outdoor terrace, among others. Residents will be within walking distance of arts, cultural and lifestyle amenities provided by the Scott’s Addition neighborhood, which contains over 51 retail, dining and entertainment venues.
Established in 1901, Scott’s Addition is a historic area known for its food, drink and entertainment amenities, including 13 breweries, cideries, meaderies and distilleries. Once a hub for industrial buildings and businesses, Scott’s Addition is a dining and entertainment destination that was recently dubbed Richmond’s “craft beverage capital” by CNN. The area is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood and is now known as Richmond’sfastest growing neighborhood, according to the Greater Scott’s Addition Association.
The Chasen project team includes Timmons Group as civil engineer, Poole & Poole Architecture as building architect, Hourigan Construction as general contractor, ENV as interior designer and Marvel Designs as landscape architect, all locally based firms.
“The current economic environment has posed significant challenges to financing and construction costs for developments nationwide, which makes this topping out not only a milestone for the project but a testament to the hard work and collaboration of every individual involved,” said Whitson Huffman, co-chief executive officer. “The Capital Square team was able to persevere through these challenges and we look forward to delivering yet another luxury multifamily community to the Scott’s Addition qualified opportunity zone.”
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, GEM at Scott’s Collection, and Otis, all within walking distance of one another. In total, Capital Square will have delivered more than 900 Class A apartment homes to the community upon completion of the CSRA Opportunity Zone Fund VII project. Otis, a 350-unit, mixed-use multifamily development, received the 2024 CoStar Impact Award for multifamily development of the year, as selected by an independent panel of local industry professionals.
Development of Chasen is funded with proceeds from CSRA Opportunity Zone Fund VII, LLC. According to an economic impact study recently completed by FTI Consulting, Capital Square’s Scott’s Addition-focused opportunity zone developments have generated significant economic and fiscal impacts, including the creation of approximately 1,500 construction jobs and 63 permanent full-time jobs as of April 2023. In turn, the developments have generated $9.7 million in annual state and local tax revenue during their construction phases and are projected to deliver $7.7 million in annual state and local tax revenues during their operational phases as of April 2023. Overall, Capital Square’s nine opportunity zone funds have initiated in excess of $870 million in yucky asset value to date.

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