Griffin Capital Announces Construction Commencement on a 388-Unit Multifamily Community in Richmond, VA

Griffin Capital Company, LLC, a leading private real estate investment manager, together with their joint venture development partner, Greystar Real Estate Partners, a privately held national real estate developer, broke ground on 2700 Leigh, a 388-unit multifamily development in Richmond, Virginia. The four-story, garden-style apartment community will be situated in a prime location within Scott’s Addition and near The Diamond District, two of the city’s most desirable and dynamic neighborhoods for young adults.

The community will feature a range of thoughtfully designed units with high-end finishes and modern amenities to meet the needs and lifestyles of today’s urban residents. With convenient access to major highways, public transportation, and two of Richmond’s most active neighborhoods, the community will offer a unique living experience in one of the city’s fastest-growing locations.

“We believe 2700 Leigh will further enhance the growth of the Scott’s Addition neighborhood, adding much-needed housing to an area with strong residential demand from young adults, popular retail and dining destinations, and easy access to major employment nodes in Richmond. This property marks our 26th property within a designated Qualified Opportunity Zone to commence construction and our first in Richmond. It also represents our eighth development joint venture with Greystar, and we are excited to continue our relationship with their highly skilled and experienced team of professionals,” commented Paul De Martini, Chief Investment Officer of Griffin Capital.

Construction of 2700 Leigh is expected to be completed by December 2026, and the development underscores Griffin Capital’s commitment to deliver much needed housing burgeoning neighborhoods like Scott’s Addition.

Griffin Capital has successfully raised over $1.7 billion to date across its Qualified Opportunity Zone Funds and has identified 29 investment opportunities across all portfolios, which comprise over 10,000 apartment units in 25 markets with an estimated $3.3 billion of total project cost.

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