Capital Square Expands Scott’s Addition Dominance with Completion of 352-Unit "Chasen"

Capital Square completes Chasen, its fifth Opportunity Zone multifamily project in Richmond, VA. Discover the luxury amenities and the firm's $470M local impact.

By: AXL Media

Published: Mar 13, 2026, 12:00 PM EDT

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

A Landmark Opportunity Zone Achievement

Chasen was brought to fruition through Capital Square’s seventh qualified Opportunity Zone fund (CSRA Opportunity Zone Fund VII, LLC). The project, which broke ground in April 2023, represents a significant tax-advantaged investment in Richmond’s urban core. United Bank provided the construction financing, with the deal facilitated by Walker & Dunlop. The development consists of three interconnected buildings, rising six and seven stories above podium parking, and includes over 5,350 square feet of ground-level retail space designed to enhance the neighborhood’s "walkable urban" character.

High-End Design and Luxury Amenities

The community offers a diverse mix of studio, one-, two-, and three-bedroom floorplans, with an average unit size of 845 square feet. Interior finishes lean into the luxury market, featuring quartz countertops, tile backsplashes, and luxury vinyl tile flooring throughout. The amenity package is extensive, tailored to the lifestyle of young professionals and urban dwellers:

Wellness & Recreation: A zero-edge pool, a fully equipped fitness center, and a dedicated wellness studio.

Work & Social: Coworking spaces, resident lounges, and a rooftop terrace.