Crescent Communities, ParkProperty Capital Plan 1st Richmond Project

NOVEL Scott’s Addition. Image courtesy of Crescent Communities Crescent Communities and ParkProperty Capital, in partnership…

NOVEL Scott’s Addition. Image courtesy of Crescent Communities

Crescent Communities and ParkProperty Capital, in partnership with Thalhimer Realty Partners, have unveiled plans for NOVEL Scott’s Addition, a 275-unit luxury community in Richmond, Va. The property will break ground this month and is slated for completion in 2024.

The development team includes architecture firm KTGY, civil engineer Kimley Horn, LandDesign as landscape architect, CID Design Group as interior designer and Clancy & Theys as the general contractor.

Located at 2902 N. Arthur Ashe Blvd., in the Scott’s Addition neighborhood, the community is adjacent to The Diamond stadium and just 2.5 miles from the city center. Numerous dining and retail options are available in the nearby area.

Upon completion, the five-story wrap building with a seven-story corner pop-out will encompass studio, one- and two-bedroom apartments, as well as loft units on the top floor. Amenities will include a swimming pool, a fireside lounge, a library, a dog park and spa, coworking rooms, a garden dining room and a sky deck.

NOVEL Scott’s Addition marks the first investment in the Richmond area for both Crescent Communities and ParkProperty Capital. Recently, Crescent Communities has partnered with CP Capital US for a development project in Tampa, Fla., expected to be completed in 2023.

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