Capital Square’s Chasen Named a 2026 Top Project by Virginia Business

RICHMOND, Va.--(BUSINESS WIRE)--Capital Square, a leading sponsor of tax-advantaged real estate investments and a national developer and manager of housing communities, announced today that Chasen, a recently delivered Class A multifamily community comprising three adjoining six- and seven-story residential buildings in the Scott's Addition neighborhood of Richmond, Virginia, has been named a 2026 Top Project by Virginia Business in its inaugural Virginia Top Projects & Real Estate Deals awards program.

The program recognizes outstanding building and construction projects across the Commonwealth and highlights excellence in design, execution and impact within Virginia’s built environment.

“Chasen builds upon the success we have achieved with our previous developments in Scott’s Addition, which has become one of the most dynamic new residential neighborhoods in the Richmond region,” said Natalie Mason, co-head of development at Capital Square. “From the ground-floor retail and publicly accessible pocket park to the rooftop terrace and the rotating VCUarts gallery in our shared spaces, every element of this community was shaped to add to the energy of the neighborhood and give residents a place that feels distinctly Scott's Addition.”

Located at 2922 W. Marshall Street in the heart of historic Scott’s Addition, the development of Chasen delivered 352 apartment units in studio, one-, two- and three-bedroom configurations averaging 845 square feet, along with over 5,270 square feet of ground-level retail space, all on a 2.45-acre urban infill site. Premium appliances and finishes include quartz countertops, tile back splashes and luxury tile throughout. Community amenities feature a resort-style zero-edge pool, fitness center, golf simulator, wellness studio, co-working space, dog wash station, resident lounges, lush courtyards with native Virginia landscaping and a rooftop terrace.

Delivered in phases, the project began pre-leasing in December 2025 and received its final certificate of occupancy in April 2026. Chasen was funded in part through CSRA Opportunity Zone Fund VII, LLC, raising $65 million in equity from accredited investors. More recently, Capital Square launched CSRA Opportunity Zone Fund IX, LLC to fund the construction of another luxury multifamily development in the Scott’s Addition neighborhood.

An analysis by independent global business advisory firm FTI Consulting found that during its construction phase, Chasen supported approximately 643 jobs annually and generated $63.6 million in GDP and $4.7 million in state and local tax revenue for the Richmond area.

“Delivering 352 units across three connected mid-rise buildings on a 2.45-acre infill site is a complex build, and the team executed it at a high level,” said Michael Ollinger, co-head of development at Capital Square. “Chasen supported roughly 643 jobs a year during construction and generated $63.6 million in GDP for the Richmond area, and the finished product – from the structural work down to the finishes – reflects the craftsmanship of the full project team. We're proud to see that work recognized by Virginia Business.”

Chasen is the largest multifamily project delivered to date in Scott's Addition. Additionally, the Capital Prize, a partnership with VCUarts, Department of Painting and Printmaking, brings a rotating fine art exhibition into the building's shared spaces. The inaugural gallery display features work by VCUarts alumni selected through a juried competition, including multi-media artwork from current winners Natalia Mejia Murillo, Luis Vasquez La Roche and Eleanor Mahin Thorp.

The project team for Chasen included Poole & Poole Architecture as building architect, Timmons Group as civil engineer and Hourigan Construction as general contractor. The design team included ENV as interior designer and Marvel Designs as landscape designer. United Bank provided a construction loan for the project.

“Chasen stands out for the quality and execution demonstrated throughout the project,” said Richard Foster, associate publisher and editor of Virginia Business. “It reflects the coordination, attention to detail and expertise required to successfully deliver a project of this scale.”

Chasen will be recognized on July 28, 2026, at a celebration at Independence Golf Course in Midlothian. The evening will include networking, dinner and an awards presentation.

The recognition of Chasen as a Virginia Top Project underscores Capital Square’s continued success in delivering high-quality multifamily communities that enhance neighborhoods, create economic impact and generate long-term value for residents, investors and the communities they serve.

About Capital Square

Capital Square is a vertically integrated, national real estate firm specializing in tax-advantaged real estate investments, including Delaware statutory trusts for Section 1031 exchanges, qualified opportunity zone funds for tax deferral and exclusion and a real estate investment trust (REIT). The company is also an active developer and manager of multifamily communities. Since 2012, Capital Square has completed more than $8.9 billion in transaction volume. Its mixed-use development projects total over 2,700 housing units with a development value in total excess of $1 billion, and Capital Square Living, the firm’s property management division, oversees more than 13,000 apartments across multiple states. Capital Square’s related entities provide a range of services – including due diligence, acquisition, loan sourcing, property/asset management and disposition – for a growing number of high-net-worth investors, private equity firms, family offices and institutional investors. The company has been recognized by Inc. 5000 as one of the fastest-growing private companies in the nation for nine consecutive years. Learn more at CapitalSq.com.

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