RICHMOND, VA – Capital Square, a leading sponsor of tax-advantaged real estate investments, and its construction partners have broken ground on Scott’s Collection III, a 72-unit, luxury multifamily development in the Scott’s Addition qualified opportunity zone in Richmond, Virginia.
“Scott’s Addition has become the most well loved evening venue in Richmond,” said Louis Rogers, founder and chief executive officer of Capital Square. “With luxury apartments now under construction, Scott’s Addition soon will become one of the most desirable places to live. You don’t have to go, you can have it all – live, work and play, right here in Richmond, Virginia.”
Located at 3001 W. Leigh St., Scott’s Collection III is a ground-up development that will include a five-tale, luxury multifamily community with 72 units, private unit balconies and a lobby area. Situated on 0.5 acres of land, Scott’s Collection III will feature a 3,000-square-foot elevated courtyard, 2,500 square feet of ground-floor space and 61 onsite parking spaces.
“This groundbreaking represents the culmination of three years of work, fundraising, educating our investor base on opportunity zones, and countless hours of plotting, design, project management, sourcing debt and contracting,” said Adam Stifel, executive vice president of development. “We set out with a vision to provide a best-in-class boutique apartment product across three buildings, which will each benefit from the combined amenities package. Each of the buildings have different offerings, and different personalities. We are very excited that with this groundbreaking the entire collection is out of the ground and the culmination of our efforts is in sight.”
Scott’s Collection III is the third in a trio of developments that will make up “Scott’s Collection” in Scott’s Addition. The development of Scott’s Collection III is the direct result of CSRA Opportunity Zone Fund III, LLC, a project-specific opportunity zone fund launched by Capital Square in December 2019.
Assisting in the development of Scott’s Collection III are 510 Architects, the architecture firm; Urbancore Construction, the general contractor; Fulton Bank, which provided the construction loan financing; and Greystar, the property manager.
Established in 1901, Scott’s Addition is a historic area that is now the City of Richmond’s fastest growing neighborhood and the second-highest performing market with 95.5% occupancy as of March 2021, according to Yardi Matrix. Scott’s Addition is a designated opportunity zone with a census tract that stretches across Virginia Commonwealth University and the Carver neighborhood. Yardi Matrix also reports that apartment rental rates in the neighborhood are projected to increase 3% to 4% per year for three years.
Opportunity zones were made to stimulate long-term private investments in low-income urban and rural communities nationwide. Conceived as part of the Tax Cuts and Jobs Act of 2017, opportunity zone funds are intended to help foster economic growth by providing tax benefits to incentivize private investments in designated opportunity zones.

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FORT LAUDERDALE, FL – BLD Group has broken ground on Sunnyside Apartments and V2 Apartments, two garden-style apartment communities located in Panama City Beach and Fort Myers, Florida, respectively.
Sunnyside Apartments will include 220 apartment homes located on Panama City Beach Highway. The community will feature one-, two- and three-bedroom homes.
The amenities of the project will include a resort-inspired swimming pool, clubhouse, barbecue area, game room, resident market, dog park, and private work booths. The community will also comprise a club-quality fitness studio with yoga/Pilates studio.
The interiors of the apartment will include stainless steel appliances, granite countertops, wood vinyl flooring throughout living areas, tile backsplashes, full-size washers and dryers, walk-in closets, tile shower surrounds and linen closets.
The community will also have simple access to Pier Park, downtown Panama City and is approximately a 5-minute walk to the beach.
The project is expected to welcome first go-ins in fall 2022.
V2 Apartments will include 308 apartment homes located on Winkler Avenue. The community will feature one-, two- and three-bedroom homes.
The amenities of the project will include a resort-inspired swimming pool, clubhouse, barbecue area, game room, resident market, dog park, and private work booths. The community will also comprise a club-quality fitness studio with yoga/Pilates studio.
The interiors of the apartment will include stainless steel appliances, granite countertops, wood vinyl flooring throughout living areas, tile backsplashes, full-size washers and dryers, walk-in closets, tile shower surrounds and linen closets.
The community will have simple access to downtown Fort Myers and I-75. The project is expected to welcome first go-ins in winter 2022.

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LOUISVILLE, KY – West Shore, a multifamily real estate investment firm, has bought Haven on Tucker, a brand-new Class A property in Louisville, Kentucky. The company continues to grow its national footprint with the addition of this 370-unit apartment community. West Shore’s expanding national portfolio now includes more than 9,800 apartment homes.
“This acquisition is representative of West Shore’s plot to continue to build our presence in growing markets, where we can leverage our regional teams and expertise,” said Steven P. Rosenthal, Chairman of West Shore. “We expect to continue our significant growth in Kentucky, and nationally as well.” The company owns and operates three other properties in Kentucky: Hamburg Farms, Enclave at Hartland, and 1809 at Winchester, all in Lexington.
Located at 12601 Charles Farm Circle, Haven on Tucker provides modern, luxury living just east of downtown. The community offers state-of-the-art amenities and spacious floor plot layouts with high-end features. Each apartment has stainless steel appliances, kitchen islands and breakfast bars, crown molding, hardwood-style flooring, and quartz or granite countertops. Amenities include a fully equipped fitness and wellness center complete with spin bikes, yoga room, steam room, and massage room, saltwater swimming pools, dog park, and professional-grade pet spa. The property is in a neighborhood with fine dining, shopping, and top-notch entertainment options, and is an ideal location for exciting apartment living.
“We are pleased to buy another exceptional asset in Kentucky,” said West Shore President Lee Rosenthal. “Haven on Tucker is a valuable addition to our portfolio and our team looks forward to delivering high-quality housing and an brilliant resident experience.”

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