New $144 Million Apartment Project Rises in Scott’s Addition Despite Market Slowdown

New $144 million apartment project rises in Scott’s Addition despite market slowdown

Construction is underway on a $144 million, 366-unit apartment project in Scott’s Addition, one of the few large developments moving forward as others stall amid tighter financing.

Developers Hoffman, DeBartolo break ground on massive Scott's Addition apartment project

From left: DeBartolo Development President Edward Kobel, Richmond Mayor Danny Avula, Hoffman & Associates President Maria Thompson, and Hoffman founder Monty Hoffman. (Mike Platania photo) The next major development in Scott’s Addition is formally underway.  Earlier this week Hoffman & Associates and DeBartolo Development held a groundbreaking ceremony for a 7-story mixed-use building at 3200 W. Moore St.  With a budget of $144 million and over …