3200 West Moore Street

Hoffman and Associates broke ground on a $144 million apartment building in March 2026, which its president pointed out was not a common thing to be doing that quarter.

3200 West Moore Street fills a full city block in Scott’s Addition, the former industrial district that has become Richmond’s fastest-densifying neighborhood. The building runs six stories and nearly 400,000 square feet, holding 366 apartments, more than 18,000 square feet of ground-floor retail, and 20,000 square feet of resident amenity space.

Project Scope

The developer is a joint venture between Hoffman and Associates, the D.C. firm behind The Wharf, and DeBartolo Development. Hanbury is the architect. Clark Construction Group is general contractor. Berkadia arranged the construction financing.

Amenity space includes landscaped courtyards, a pool terrace, and indoor dining, event, and lounge areas. Hanbury describes the design intent as reworking the standard mid-rise multifamily massing to strengthen how the building meets the street, which in a district where most recent product is podium-over-parking is a specific critique as much as a design goal.

Site work actually began in December 2025; the ceremonial groundbreaking followed on 18 March 2026. Leasing opens in late summer 2027, first move-ins are set for that fall, and full completion is targeted for early 2028.

Why It Matters

Hoffman president Maria Thompson framed the start explicitly against the credit environment, noting that capital markets had tightened and a lot of comparable developments were paused. That’s the story here. A $144 million private multifamily start with placed construction debt in the first half of 2026 is a data point, and the Federal Reserve’s July senior loan officer survey showed banks holding construction and land development standards tight while easing on stabilized assets.

Scott’s Addition itself is the other half of the equation. The district went from warehouses and light industry to Richmond’s densest new-construction market inside a decade, and full-block sites are close to gone. Whoever builds the last few parcels inherits a neighborhood that already has the retail base and the street life that early projects had to gamble on.

Project Team & Details