Middleburg and Harbor Group Secure Loan for 299-Unit Scottwood in Richmond

The multifamily development is planned along the West Broad Street corridor near Scott's Addition.

Apr. 3, 2026 at 6:07pm

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A miniature, stylized 3D illustration of a multifamily residential development with two four-story buildings, landscaped courtyards, and activated amenity spaces along the street frontage, conceptually representing a new project that will contribute to the evolving mixed-use area.A new multifamily development aims to bring high-quality, attainable housing to Richmond's growing West Broad Street corridor.Richmond Today

Middleburg and Harbor Group International have closed construction financing for Scottwood, a planned 299-unit multifamily community at 4400 West Broad Street in Richmond, Virginia. The project is positioned along a corridor just west of the city's Scott's Addition District and near Topgolf Richmond, placing it within an established and growing mixed-use area.

Why it matters

The West Broad Street corridor near Scott's Addition is experiencing strong rental housing demand, and the Scottwood development is intended to respond to that demand through its quality level, amenity program, and contribution to the ongoing evolution of this part of Richmond.

The details

Scottwood is planned as a two-building multifamily development designed to deliver near top-of-market quality at a more attainable rent level. The community will consist of two four-story residential buildings, with one building programmed for 132 units and the second for 167 units. Construction is scheduled to begin in April, with initial unit deliveries targeted for late 2027. The plan calls for activated amenity spaces along the West Broad Street frontage, aimed at engaging both residents and the streetscape.

  • Construction is scheduled to begin in April 2026.
  • Initial unit deliveries are targeted for late 2027.

The players

Middleburg

A real estate development and management company.

Harbor Group International

A real estate investment and management firm that is partnering with Middleburg on the Scottwood project.

Truist Bank

The bank providing the construction financing for the Scottwood development.

Ross Magette

The Development Partner for Middleburg.

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What they’re saying

“The West Broad Street corridor near Scott's Addition is experiencing strong rental housing demand, and the development team intends for Scottwood to respond to that demand through its quality level, amenity program, and contribution to the ongoing evolution of this part of Richmond.”

— Ross Magette, Development Partner, Middleburg

What’s next

With construction financing secured and a near-term construction start, Middleburg and Harbor Group International are moving Scottwood from the planning phase into the execution phase.

The takeaway

The Scottwood development represents an effort to address the strong rental housing demand in the West Broad Street corridor near Scott's Addition, a growing mixed-use area in Richmond. The project aims to deliver high-quality multifamily units at more attainable rent levels, contributing to the ongoing evolution of this part of the city.