Chasen Multifamily Community Grand Opening in Richmond's Scott's Addition Opportunity Zone

Grand Opening of Chasen: A New Era in Richmond's Scott's Addition

On February 9, 2026, Capital Square celebrated the grand inauguration of Chasen, a state-of-the-art multifamily community located in the dynamic Scott's Addition neighborhood of Richmond, Virginia. With 352 units, Chasen stands as a testament to the firm's commitment to creating vibrant residential spaces through thoughtful development and strategic investment in opportunity zones.

A Strategic Milestone

Capital Square, renowned for its role in tax-advantaged real estate investments, has progressively established itself as a leading developer in Richmond's booming real estate market. The opening of Chasen marks the fifth successful opportunity zone project completed in the area, known for its eclectic mix of dining and entertainment options. The grand opening event attracted prominent local dignitaries, including Richmond Mayor Dr. Danny Avula and Katherine Jordan from the city council, among others.

During the event, Capital Square's Co-CEO, Whitson Huffman, emphasized the importance of opportunity zones in driving economic growth and enhancing neighborhood livability. Huffman stated, "The opening of Chasen represents another important milestone for Capital Square and for the continued evolution of Scott's Addition." He noted how legislation designed to boost investment in underserved areas might lead to transformations that are beneficial both for communities and investors alike.

Luxurious Living Spaces

Chasen comprises three exquisite residential buildings, designed with a modern aesthetic to cater to the demands of urban living. The community not only features over 5,350 square feet of retail space but also offers a range of premium amenities. Residents can enjoy a resort-style zero-edge pool, a fitness center complete with a wellness studio, a co-working space tailored for professionals, and private lounges. The housing units, averaging 845 square feet, include top-tier appliances, quartz countertops, and luxurious finishes.

As the neighborhood continues to grow, Chasen provides a pivotal living experience by blending comfort with style while maintaining proximity to local attractions. Natalie Mason, co-head of development at Capital Square, remarked, "Scott's Addition has incredible energy, and Chasen puts residents right in the center of it all. The combination of local breweries, restaurants, and vibrant streets makes this neighborhood unique."

Economic Impact and Community Engagement

Reflecting on the economic impact of its developments, an assessment by FTI Consulting revealed that Capital Square's Scott's Addition projects have created around 372 jobs annually during construction and are projected to generate $2.8 million in local and state taxes. With an extensive investment footprint that exceeds $470 million in gross asset value, including 1,232 residential units, Capital Square is making strides in establishing Richmond as a significant real estate hub.

Additionally, the company has partnered with VCUarts to host the Capital Prize, showcasing work from VCUarts Painting and Printmaking alumni in a juried exhibition displayed in Chasen's lobby. This collaboration highlights Capital Square’s commitment to cultural enrichment as part of its community involvement.

Future Prospects

Having successfully launched numerous developments since its inception in 2012, Capital Square stands out in the real estate sector. With projects totaling over $8.9 billion in transaction volume, the firm is not only committed to residential development but also to ensuring that these investments yield stable income and create lasting community value. The recent launch of the CSRA Opportunity Zone Fund IX aims to fund further luxury developments in Scott's Addition, suggesting that the company's ambitious vision for the neighborhood is far from over.

In conclusion, the launch of Chasen is not merely a celebration of a new residential building; it symbolizes the growth and revitalization of Richmond's Scott's Addition area, demonstrating how thoughtful investment and community-centered planning can shape urban landscapes for generations to come.