Six story apartment project to rise along Summit Avenue in Scott’s Addition

Six story apartment project to rise along Summit Avenue in Scott’s Addition

The $20 million project, to be named “The Nest,” will bring 118 new apartment units to the neighborhood.

Rendering: Fountainhead Properties

From Richmond BizSense:

Two developers are swooping into Scott’s Addition with a $20 million apartment project that will bring more height near the neighborhood’s Broad Street border.

An entity led by Geoff Schutz of Richmond-based Dodson Commercial, along with Fountainhead Properties’ Tom Papa, is developing The Nest – a six-story, 118-unit apartment project set to rise on about 0.6 acres at 3105, 3107, 3113 and 3115 W. Marshall St.

Their group is under contract to purchase the properties for an undisclosed amount. The parcels are owned by Summit Suites LLC, a group led by Yogi Singh that bought the properties in a package deal in 2016 for $2.5 million.

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