Greystar Real Estate Partners and Capital Square Opens 350-Unit Otis Apartment Homes in Scott's Addition Neighborhood of Richmond

Greystar Real Estate Partners and Capital Square Opens 350-Unit Otis Apartment Homes in Scott's Addition Neighborhood of Richmond

RICHMOND, VA - Greystar Real Estate Partners, a global leader in the management of high-quality rental housing properties, and Capital Square, a leading sponsor of tax-advantaged real estate investments and an active developer of multifamily communities, announced that Otis is now open and has leased 50 percent of its 350 apartment homes in Scott's Addition.

"We are pleased to deliver Otis and become a contributing member of the Scott's Addition community," said Greystar Managing Director John Clarkson. "We hope that we've enhanced an already wonderfully authentic neighborhood's sense of place through thoughtful design, amenities and community serving retail. We look forward to being integral partners and neighbors within Scott's Addition and the broader Richmond market for many years to come."

Located in the heart of Scott's Addition on Roseneath and W Moore St., the six-story mixed-use community offers studio, one- and two-bedroom units, and three-bedroom townhomes. The bespoke apartment homes offer a range of kitchen and bathroom finishes, movable islands, floor to ceiling windows, balconies, full-size appliances and generous closet spaces.

Otis has a variety of amenity spaces, catering to every interest, as well as intimate areas. The lobby was designed to serve as both a lounge and coworking space, with a state-of-the-art gym located to one side and a direct entrance to Grit Coffee on the other. Just off the elevator on the third floor are the cabana, a textured, intimate dining space, and the lounge, which features a pool table, keg tap, and outdoor seating and grilling spaces overlooking the neighborhood. The third floor is also home to two courtyards, one debuting a large pool deck and the other eight grill stations and luxe seating spaces. The Otis community has a dedicated pet spa and a dog park with interactive features.

Otis also exhibits four murals highlighting talented local artists. The largest mural was designed by Emily Herr of Herr Suites and is hard to miss, spanning half of Norfolk St. and turning the corner to a quarter of McTavish Ave. In the lobby, Tim Skirven designed a vibrant piece above the hospitality bar, visible from Roseneath. Naomi McCavitt of Thicket Design carefully crafted a textured wall mural, enhancing the interior design of the largest indoor amenity space. And finally, a modern installation by Andre Shank in the main elevators pulls the colors from each floor together.

"Richmond is one of the Mid-Atlantic region's most attractive real estate markets and the Scott's Addition neighborhood is among the city's fastest-growing and most compelling sub-markets," said Whitson Huffman, co-chief executive officer of Capital Square. "The Otis, with its attractive design and high-end amenities, is a premier mixed-use multifamily community that will further accelerate the transformation of Scott's Addition into one of Richmond's most popular and thriving neighborhoods."

Otis is situated in Scott's Addition, one of Richmond's fastest-growing neighborhoods, and the hub of the city's brewing scene with more than 20 breweries, distilleries, and cideries. Some of the neighborhood highlights include Stella's Grocery and ZZQ, The Broadberry music venue, and Brambly Park. The community is a 10-minute commute to employers downtown or in the West End and is also near Brown's Island, the James River and Cary Town.

Source: Greystar Real Estate Partners / Capital Square

More Stories

Get The Newsletter

Get The Newsletter

The latest multifamily industry news delivered to your inbox.