New Class A Multifamily Development to Transform Richmond’s West Broad Street
Richmond, Virginia is set to witness a significant transformation with the commencement of Scottwood, a 299-unit Class A multifamily development. This ambitious project, situated at 4400 West Broad Street at the boundary of the City of Richmond and Henrico County, is spearheaded by a joint venture between Middleburg and affiliates of Harbor Group International (HGI). Construction is slated to begin this April, with initial deliveries anticipated in late 2027.
Strategic Location and Community Impact
Nestled within Henrico County’s Westwood Revitalization/Reinvestment Opportunity Special Focus Area, Scottwood is strategically positioned just west of Scott’s Addition. This location is part of a corridor planned for mixed-use redevelopment, encompassing residential units, restaurants, breweries, offices, and entertainment facilities. The development’s proximity to the Pulse bus rapid transit line promises enhanced connectivity for residents, linking them directly to the broader region.
Financing and Development Milestones
The project has successfully secured construction financing from Truist Bank, marking a significant achievement for Middleburg and HGI. This investment propels HGI’s total development investments beyond $1 billion since 2023, with participation in over 3,600 units nationwide. Scottwood’s unique jurisdictional challenges, including securing offsite easements to extend Henrico County utilities, were meticulously navigated to ensure the project’s progression.
Engagement and Collaboration
The development process has been seamless, thanks to the active engagement of both Henrico County and the City of Richmond. Both jurisdictions have collaborated closely with Middleburg to ensure that Scottwood aligns with their strategic goals, fostering continued investment along the corridor.
Key Takeaways
- Scottwood is a 299-unit Class A multifamily development set to begin construction in April 2026.
- Located at 4400 West Broad Street, the project is a joint venture between Middleburg and affiliates of Harbor Group International.
- Financed by Truist Bank, this development is part of Henrico County’s Westwood Revitalization area.
- Initial deliveries are expected in late 2027, with the development promoting mixed-use growth and connectivity.
Looking Forward
As construction of Scottwood commences, it is poised to become a catalyst for further investment and development along West Broad Street. The project not only enhances residential options but also contributes to the vibrant, mixed-use landscape of the region. With strategic planning and collaboration, Scottwood is set to play a pivotal role in the ongoing revitalization of Richmond’s West End.
This article is based on authoritative sources, including press releases and verified web search results, to ensure accuracy and reliability.
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