Chasen

Address: 2922 W. Marshall St., Richmond

Project Type: Private

Project Size: 318,656 square feet; 352 units

Project Cost: $90+ million

Owner: Capital Square

Contractor: Hourigan Construction

Architect: Poole & Poole Architecture

Interior Designer: ENV

Engineer: Timmons Group (civil); Phillips Gradick Engineering (mechanical)

Subcontractor: Donley’s Concrete Group

Landscape Design: Marvel Designs

When Capital Square broke ground for Chasen in Scott’s Addition in April 2023, it commissioned something unusual for a multifamily development: a fine art competition. The Capital Prize, a first-of-its-kind rotating exhibition created in partnership with VCUarts, places juried works by Virginia Commonwealth University alumni in Chasen’s lobby.

Chasen is the largest multifamily project delivered to date in Scott’s Addition, one of Richmond’s fastest-growing and trendiest urban neighborhoods. Spread across three interconnected Class A buildings of six and seven stories above podium parking, the 352-unit development occupies a constrained 2.38-acre infill site within a designated opportunity zone — financed through Capital Square’s seventh such fund. The project required phased construction across all three structures simultaneously while maintaining access and minimizing disruption to surrounding businesses.

The project’s complexity extended well beyond the site itself. Chasen was executed amid a period of rising interest rates, elevated construction costs and constrained capital availability, which demanded continuous budget alterations and cooperation across teams. Nevertheless, the project’s certificate of occupancy was delivered on schedule in November 2025.

An all-local team of Hourigan Construction, Poole & Poole Architecture, ENV, Timmons Group and Marvel Designs brought deep familiarity with the city’s development environment to every phase.

Capital Square’s broader Scott’s Addition footprint now represents approximately $470 million in gross asset value across 1,232 units, making it the neighborhood’s largest developer.

Resort-caliber amenities at Chasen include a zero-edge pool, wellness studio, golf simulator, coworking space with private offices and three landscaped courtyards featuring native Virginia species. New streetscape improvements — trees, heritage-style lighting, a publicly accessible pocket park and active ground-floor retail — extend the project’s reach into the pedestrian realm, reinforcing Scott’s Addition’s emergence as the hottest live-work-play community in Richmond.