VIENNA, VA – Middleburg and Harbor Group International announced the closing of construction financing for Scottwood, a 299-unit Class A multifamily development located at 4400 West Broad Street at the boundary of the City of Richmond and Henrico County. Construction is set to commence this April, with initial deliveries anticipated in late 2027. The project is a joint venture between Middleburg and affiliates of Harbor Group International. Financing was provided by Truist Bank.
With this investment, HGI has now surpassed $1 billion in total development investments since 2023, having participated as a limited partner in multiple development joint ventures spanning more than 3,600 units nationwide.
A central site within Henrico County’s Westwood Revitalization/Reinvestment Opportunity Special Focus Area, Scottwood sits just west of Scott’s Addition along a corridor that Henrico has specifically planned for mixed-use redevelopment – including residential, restaurants, breweries, offices and entertainment. The Pulse bus rapid transit line runs along West Broad Street with stations nearby, providing residents with direct connectivity to the broader region. Middleburg expects Scottwood to be one of the many catalysts for continued investment along the corridor, and both Henrico County and the City of Richmond were engaged throughout the development process to ensure the project advances the goals of each jurisdiction…