JV Breaks Ground On $144M Richmond Mixed-Use Project
Hoffman & Associates and DeBartolo Development broke ground today on 3200 West Moore Street, a $144 million 400,000-square-foot mixed-use residential community in Richmond’s Scott’s Addition neighborhood.
The six-story development will include 366 apartment residences and approximately 18,000 square feet of ground-floor retail, creating a vibrant new destination along West Moore Street. At full buildout, the project will span a full city block and represent one of the most significant new residential developments currently underway in Richmond.
The project’s design team is led by Virginia-based architecture firm Hanbury, with VHB providing engineering services. Clark Construction will serve as the project’s general contractor. Hoffman & Associates acquired the 2.4-acre site in 2025 through a seller-financing structure. The partnership secured $144 million in construction financing, including a senior loan from TD Bank and equity from Red Cove Capital. Berkadia’s Washington, D.C., metro and Richmond teams advised on the capital raise. Construction is now underway, with leasing expected to begin in late Summer 2027.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout