RICHMOND, VA – Construction is officially underway at the newest multifamily development in Richmond’s vibrant Scott’s Addition neighborhood. Greystar, a leading global development firm, and Capital Square, a top sponsor of tax-advantaged real estate investments, bought a 2.28-acre parcel at 1601 Roseneath and started construction in December 2020. The partners celebrated the progress with an onsite groundbreaking ceremony on Thursday, April 15.
“We are pleased to partner with one of the best and highest quality development and property management firms in the country, and to continue our already significant investment in Capital Square’s hometown of Richmond, as well as in Scott’s Addition, one of Richmond’s hottest neighborhoods,” said Adam Stifel, executive vice president of development at Capital Square.
Located at the corner of Roseneath and Moore Street, the 1601 Roseneath site encompasses an entire city block and will soon be home to 350 apartment units and over 16,000 square feet of retail space. The Scott’s Addition neighborhood is especially appealing for area residents due to its walkable scene and the ongoing “renaissance” that’s led to its steady retail, commercial, and residential growth. In addition to the handful of active warehouses that remain in this historically industrial neighborhood, Scott’s Addition is now home to a diverse mix of businesses and over 40 food and beverage establishments, including famed breweries and some of Richmond’s most acclaimed restaurants.
“Through thoughtful placemaking design and a locally focused and curated retail strategy, Greystar hopes to make a lasting contribution to one of Richmond’s most dynamic and authentic neighborhoods,” said John Clarkson, Managing Director of the Mid-Atlantic region at Greystar.
Greystar collaborated with Hord Coplan Macht (HCM) and Richmond-based ARCHITECTUREFIRM on architecture and interior design to make a gorgeous and thoughtful design aesthetic, which represents a modern interpretation of the neighborhood’s industrial surroundings. The result will be a striking six-tale development that blends seamlessly into its creative and historic surroundings and feels more like a boutique hotel with high-end amenities and ample community programming. Offering first-of-its-kind, institutional quality management to the Scott’s Addition submarket, the development will bring a new level of hospitality to locals and transplants alike.
“With the help from our friends at HCM and ARCHITECTUREFIRM, our project will pay homage to Scott’s Addition’s industrial history while providing a contemporary living experience for its current and future residents,” noted George Hayward, Senior Director at Greystar.
Available in the property will be a floor plot selection of studios, one-, two-, and three-bedrooms, ranging in size from 550-1,500. Comprising the retail space will be a collection of restaurants and beverage spots to make this community both a brand-new home and a meeting place for anyone looking to grab a meal or a drink in a thriving Richmond neighborhood. Although specific tenants have not yet been announced, the retail mix will integrate local purveyors and restauranteurs and is intended to showcase the best of Richmond’s burgeoning culinary scene and complement the existing establishments that have been the force behind Scott’s Addition’s resurgence.

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WAYLAND, MA – Partners, a national leader in multi-family real estate development, announced the groundbreaking of its newest luxury residential community – Alta at River’s Edge – in Wayland, Massachusetts. Construction is underway and the community is scheduled to open in late Summer 2022.
Once complete, the new community will feature 218 apartment homes comprised of one-, two- and three-bedroom floorplans spread across a total of three buildings. The units will include high-end finishes and features including stainless steel appliances, smart thermostats, and large balconies.
Alta at River’s Edge will also feature a wide range of desirable amenities for the residents to delight in including a club room and game lounge, fitness center, work from home spaces, indoor golf simulator, and pet spa. Additionally, there will be two courtyards with a pool and hot tub, fire pits, grilling stations and a resident gardening area.
“Wood Partners is very excited to finally break ground on Alta at River’s Edge,” said Jim Lambert, Managing Director. “This project has been a long time in the making and we want to thank the Town of Wayland and the many individuals who worked so hard, well before our involvement, to lay the groundwork for it. It is a fantastic example of a public-private partnership and what can be accomplished when municipalities work together with private developers to make much-needed housing in Massachusetts.”
Located on Boston Post Road (Route 20) in Wayland, the future community will be adjacent to the Town of Sudbury with seasonal views of the nearby Sudbury River and its marshlands that are home to protected birds and other wildlife. A future rail trail will help connect the property to nearby Wayland Town Center, Route 20 retail, Wayland Public Library and the Town of Weston. The trail will be used primarily for walking, running, and biking and will feature gorgeous wildflowers and scenery.
“Alta at River’s Edge will offer a premier Wayland address, a scenic setting next to the Sudbury River, simple access to employment centers, and a highly rated school system,” Lambert continued. “We look forward to opening the doors to the community next year.”
The community is 20 miles west of Boston, providing residents proximity to numerous employment opportunities as well as recreational destinations.

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HOUSTON, TX – A group of investors, including Sunrise Capital Group, led by David Davidenko and Julia Bykhovskaia, and Merrill Kaliser, announced their first acquisition in Katy/Houston submarket, The Gallery at Katy, a garden style 316 unit apartment complex built in 1983, located in an area with the average household income of $118K+ in a 3 mile radius.
“We are thrilled to add another solid property to our portfolio and further expand our presence in the Texas market”, David Davidenko said. The acquisition marks Sunrise’s first property in Houston and its eighth property under management in Texas. Julia Bykhovskaia added: “the property is ideally located in close proximity to Houston and is well-aligned with our strategy of identifying well maintained stabilized institutional quality assets in desirable suburban locations”.
Merril Kaliser commented: “The Gallery at Katy presented an exciting opportunity to buy a high-quality multifamily asset in a very desirable submarket. The property has brilliant ‘bones,’ new roofs and very limited deferred maintenance”.
Gallery at Katy is a recently renovated and well-maintained asset located in the high growth Katy/Cinco Ranch/Waterside submarket of Houston. Community amenities include a 24-hour state-of-the-art fitness center, two resort-style swimming pools with new designer lounge furniture, an exterior multipurpose sport court, a summer kitchen with a grilling station, a playground and an indoor sports court. Interior features include designer cabinetry with brushed nickel pulls, newly refinished countertops, upgraded stainless appliances, upgraded plumbing and lighting fixtures, spacious walk-in closets, and ceiling fans throughout.
The Katy/Cinco Ranch/Waterside submarket has favorable submarket fundamentals with the highest absorption rate and occupancy among all Houston submarkets. There is just one conventional multifamily property under construction within a 3-mile radius of the Property. In addition, the Property is zoned to highly acclaimed Katy Independent School District and benefits from strong surrounding demographics.
The property was 94% occupied at the time of the sale. Brett Benton of Newmark Knight Frank brokered the transaction.

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