Capital Square Expands Richmond Footprint with Completion of Chasen Apartments

Capital Square completes Chasen, its fifth Opportunity Zone project in Richmond’s Scott’s Addition, featuring 352 luxury units and ground-level retail space.

By: AXL Media

Published: Mar 11, 2026, 5:33 AM EDT

Source: https://www.multihousingnews.com/

Financing and Qualified Opportunity Zone Investment

Chasen was brought to fruition through Capital Square’s seventh qualified Opportunity Zone fund, CSRA Opportunity Zone Fund VII, LLC. The project broke ground in April 2023 following the securement of construction financing from United Bank, a deal orchestrated by Walker & Dunlop. As an Opportunity Zone development, the project leverages federal tax incentives designed to spur long-term private investment in distressed communities, though Scott’s Addition has rapidly transitioned into one of Richmond's most affluent creative hubs.

Architectural Composition and Mixed-Use Infrastructure

The development consists of three interconnected buildings ranging from six to seven stories, constructed over a podium parking structure. Beyond its 352 residential units, Chasen features 5,350 square feet of ground-level retail space designed to enhance the neighborhood's pedestrian-friendly character. The project team was led by Poole & Poole Architecture, with Hourigan Construction serving as the general contractor. Greystar has been appointed as the project manager to oversee the stabilization and day-to-day operations of the community.

Premium Amenities and Modern Residential Design

Located at 2922 W. Marshall St., the community offers a diverse unit mix including studio, one-, two-, and three-bedroom floorplans, with an average size of 845 square feet. The residences are finished with luxury materials such as quartz countertops and custom tile backsplashes. Shared amenities are extensive, featuring a zero-edge pool, a wellness studio, a rooftop terrace, and specialized coworking spaces. These features reflect the post-pandemic "work-from-home" requirements of modern urban renters.