Capital Square Opens Chasen Three Hundred Fifty Two Unit Class A Multifamily Community in Scotts Addition Opportunity Zone
Capital Square has opened Chasen, a 352-unit Class A multifamily community in Richmond, Virginia’s Scott’s Addition qualified opportunity zone. The development represents the firm’s fifth completed opportunity zone project in the neighborhood and was celebrated at a grand opening attended by local leaders and project partners.
The event featured Richmond Mayor Dr. Danny Avula, Katherine Jordan of Richmond City Council, Capital Square Co-CEOs Louis Rogers and Whitson Huffman, and other development team members. Following a reception and remarks, attendees toured Chasen’s residences and amenity spaces.
“The opening of Chasen represents another important milestone for Capital Square and for the continued evolution of Scott’s Addition,” said Whitson Huffman, co-chief executive officer and chief investment officer of Capital Square. “A testament to how opportunity zone legislation can transform both neighborhoods and investor outcomes, Chasen reflects our commitment to creating high-quality residential communities that elevate the urban living experience. With its luxury amenities and premium finishes, Chasen offers residents a sophisticated lifestyle while reinforcing Scott’s Addition’s position as one of Richmond’s most dynamic and desirable neighborhoods.”
Chasen occupies three six- and seven-story residential buildings above podium parking and includes more than 5,350 square feet of ground-level retail. Units average 845 square feet and feature premium appliances and finishes such as quartz countertops, tile backsplashes and luxury tile throughout. Community amenities include a zero-edge resort-style pool, fitness center, wellness studio, co-working space, dog wash station, resident lounges, landscaped courtyards with native Virginia plantings and a rooftop terrace.
Capital Square has been an active developer in Scott’s Addition since 2020, delivering INK at Scott’s Collection, VIV at Scott’s Collection, GEM at Scott’s Collection, Otis and now Chasen within walking distance of one another. The project team included Poole & Poole Architecture as building architect, Timmons Group as civil engineer and Hourigan Construction as general contractor, with interior design by ENV and landscape design by Marvel Designs.
Chasen was funded through CSRA Opportunity Zone Fund VII, LLC. Opportunity zone funds were established under the Tax Cuts and Jobs Act of 2017 to incentivize private investment in designated zones. Capital Square has also launched CSRA Opportunity Zone Fund IX, LLC to support another planned luxury multifamily project in Scott’s Addition.
“Scott’s Addition has incredible energy, and Chasen puts residents right in the center of it all. From the local breweries and restaurants to the walkable streets and creative community, this neighborhood offers something truly unique. We’re excited to give people the opportunity to live here and experience everything this area has to offer.” — Natalie Mason, co-head of development, Capital Square
This opening underscores ongoing investor and developer activity in opportunity zones and highlights trends in amenity-led urban multifamily development. Multifamily Leadership will continue to track how capital structures and design approaches shape neighborhood-level outcomes.