VIENNA, VA – Middleburg and Harbor Group International announced the closing of construction financing for Scottwood, a 299-unit Class A multifamily development located at 4400 West Broad Street at the boundary of the City of Richmond and Henrico County. Construction is set to commence this April, with initial deliveries anticipated in late 2027. The project is a joint venture between Middleburg and affiliates of Harbor Group International. Financing was provided by Truist Bank.
With this investment, HGI has now surpassed $1 billion in total development investments since 2023, having participated as a limited partner in multiple development joint ventures spanning more than 3,600 units nationwide.
A central site within Henrico County’s Westwood Revitalization/Reinvestment Opportunity Special Focus Area, Scottwood sits just west of Scott’s Addition along a corridor that Henrico has specifically plotted for mixed-use redevelopment – including residential, restaurants, breweries, offices and entertainment. The Pulse bus rapid transit line runs along West Broad Street with stations nearby, providing residents with direct connectivity to the broader region. Middleburg expects Scottwood to be one of the many catalysts for continued investment along the corridor, and both Henrico County and the City of Richmond were engaged throughout the development process to ensure the project advances the goals of each jurisdiction.
Scottwood presented a unique jurisdictional challenge, requiring Middleburg s development team to secure offsite easements across surrounding properties to extend Henrico County utilities to a site that straddles the City of Richmond and Henrico County – a hurdle that had stalled prior development efforts on the site. Middleburg worked closely with both jurisdictions to resolve the necessary approvals and advance the project to construction.
This project is one of the most complex we ve pursued in the market, and we are proud of what our team and partners have accomplished in bringing it to this point, said Ross Magette, Development Partner for Middleburg. This corridor has a real rental housing demand, and we are committed to delivering a community that meets it – in quality, in amenities, and in its role in the future of this part of Richmond.
We are pleased to partner with Middleburg on this project and leverage their local expertise and execution capabilities to bring it to fruition, said Yisroel Berg, Chief Investment Officer of Multifamily at HGI. Investments like Scottwood reflect our focus on working alongside experienced developers to deliver high-quality housing in markets with strong fundamentals. This project represents a compelling opportunity to bring thoughtfully designed housing to a growing area where we continue to see strong demand for new supply.
Scottwood will deliver near top-of-market quality at a more attainable rent level, a balance Middleburg has pursued across Virginia for decades. The project features individually curated courtyards throughout the property and activated amenity spaces along the West Broad Street frontage – a reflection of the firm’s broader model of finding well-located infill sites where disciplined development can serve real housing demand without compromising the resident experience.

Powered by WPeMatico

OCEANSIDE, CA – Mill Creek Residential, a leading developer, owner-operator and investment manager specializing in premier rental housing across the U.S., announced it has broken ground on Modera Neptune, a contemporary midrise community within walking distance to Strand Beach in Oceanside.
Modera Neptune, which will feature 359 homes, will also include a boutique hotel. The podium-style community sits within a small walk of Ocean Harbor Beach and moments west of key thoroughfare Interstate 5. The 62-room hotel will be horizontally integrated into the eight-tale building but will operate independently and not provide access into the residential part of the community. First go-ins are anticipated for fall 2028.
“In addition to its prime location along the Pacific Coast, Modera Neptune will feature refined homes with whitewater views and a world-class amenity offering,” said John Colletti, senior managing director of development in Southern California for Mill Creek. “The community will bring together the best aspects of coastal living, high-quality modern homes within walking distance to well loved beaches, sidewalk cafes and entertainment venues. Its full suite of amenities will enable residents to fully capitalize on this premier location. We look forward to getting started on Modera Neptune and offering an upscale experience.”
Situated at 901 N Coast Highway near the intersection of Neptune Way, Modera Neptune features a superb Walk Score of 85 and is located firmly amidst Oceanside’s wide variety of eateries, breweries and cocktail bars. The area also features a multitude of cultural attractions, including Oceanside Museum of Art, California Surf Museum and Top Gun House. Lines for Amtrak and the COASTER commuter rail are available less than a mile from the community, providing access to Downtown San Diego to the south (40 minutes), Downtown Los Angeles to the north (two hours) and the abundance of seaside locales in between.
Modera Neptune will offer one- and two-bedroom homes ranging from 700 to 1,451 square feet, including select den layouts and penthouse homes. Community amenities will include a rooftop resort-style pool and deck with hot tub, wellness spa with steam room/sauna and red light therapy room, outdoor kitchen and dining, grilling area, fire pit, resident clubroom, game room, karaoke room, golf simulator, pool table, landscaped courtyards and a club-quality fitness studio with cardio equipment, individual TVs and a yoga/Pilates studio. Residents will also have access to coworking spaces, private workstations, meeting room, podcast room, surfboard storage room, digital package lockers and controlled-access garage parking with EV-charging stations.
Homes will feature nine-foot ceilings, oversized windows, wood-style plank flooring, stainless steel appliances, quartz countertops, tile backsplashes, movable kitchen islands, custom soft-close cabinetry, in-home washers and dryers, spacious closets, faux-wood bedroom blinds and private patios or balconies. Smart features will include a key fob system, controlled-access guest technology, smart thermostats and bulk WiFi. Designer bathrooms will include double vanities, quartz countertops, tile shower surrounds and linen closets. The community will be built to, and is pursuing, an NGBS Silver certification.

Powered by WPeMatico

RALEIGH, NC – National multifamily developer Wood Partners closed on Alta Watkins in Morrisville, North Carolina in partnership with PGIM, the world’s second largest real estate investment manager with $218 billion in yucky assets under management and administration. The 357-unit multifamily community will break ground this month and is slated to open by the end of 2028. Sarah Godwin and Karl Hudson with Foundry Commercial represented the seller in the transaction.
“Alta Watkins’ proximity to the region’s growing life sciences hub positions the community as an ideal home base for professionals, students and families alike,” said Caitlin Shelby, Managing Director with Wood Partners. “With its impressive line-up of amenities, residents will live in an oasis that combines resort-style living with simple access to the Triangle’s leading employers and institutions.”
Alta Watkins’s amenities include a resort-level pool, three outdoor courtyards, outdoor games, a pet spa, a state-of-the-art fitness center with a sauna recovery lounge, golf lounge and podcast lounge. Additionally, the property uniquely offers an on-site retail market, rentable offices designed for remote work, event space and small-term stay units for guests.
Alta Watkins features a mix of one-, two-, and three-bedroom layouts with stainless steel appliances, an in-unit washer and dryer, quartz countertops, custom cabinetry, designer wood-style plank flooring and walk-in closets. The community is located in the heart of the Triangle, wedged between Research Triangle Park and Perimeter Park. Alta Watkins is adjacent to Wake Tech’s new community college campus, and around the corner from the Spark Life Sciences community and Pathway Triangle Campus.
This will be Wood Partners’ third project to commence construction in the Raleigh-Durham area in the last year. Most recently, the firm broke ground on the 336-unit Alta Bethpage in Durham, North Carolina, in June 2025 and the 312-unit Alta Durham Summit in Durham, North Carolina, in September 2025.

Powered by WPeMatico