The wooded site was formerly owned by Bow Tie Partners. (BizSense file photo)
A long-planned apartment complex near Scott’s Addition is set to move forward with a giant of the development world taking a leading role.
South Carolina-based Greystar recently filed building permits for a five-story apartment building at 2700 W. Leigh St., a 6-acre wooded area that’s next to the Movieland At Boulevard Square complex.
Greystar is a major player in the multifamily industry with a portfolio that counts nearly 1 million units across the globe and over $36 billion in assets under management. Locally, the firm recently wrapped up construction on The Otis, a nearly 350-unit Scott’s Addition apartment building that it co-developed with Henrico-based Capital Square.
The planned development of the Leigh Street land has been in the works for more than two years, but it wasn’t until now that Greystar’s involvement was revealed.
In 2022 Movieland’s owner, Bow Tie Partners, sold the Leigh Street plot for nearly $16 million to D.C.-based Level 2 Development and SJG Properties as well as Maryland-based private equity firm FCP.
Shortly after buying the Leigh Street plot, Level 2, SJG and FCP filed plans for a five-story, 374-unit building but work never got underway.
Now, in a building permit filed by Greystar in recent weeks, the project lists 388 units.
It’s unclear from the permit who exactly is on the development team with Greystar going forward. A spokesperson for Level 2 confirmed that it’s still part of the project, while FCP declined to comment and SJG Properties did not respond to requests for comment. A Greystar spokesperson said “the development team is not commenting on this project right now.”
City records show the land is still owned by the Level 2, FCP and SJG-affiliated entity that bought it two years ago.
Poole & Poole Architecture is the project architect.
The new apartments would rise just south of the Flying Squirrels’ new ballpark and across the street from Midtown Green, the former Washington Commanders training camp facility that’s now set to become the city’s parks department’s headquarters.
Level 2 and SJG are also busy building The Ace, an eight-story mixed-use building nearby at 1117-1209 N. Arthur Ashe Blvd.
Richmond 300 shows a signature ped/bike bridge crossing the tracks and landing at Leigh making a very easy and safe connection to the diamond area from all of the development south of the tracks.