A 300-unit apartment complex along with retail space is planned for North Arthur Ashe Boulevard on land where Buz and Ned’s Real Barbecue and other businesses are now.

Level 2 Development and SJG Properties, two development companies based in Washington, have acquired five parcels totaling 3.3 acres for the planned $80 million mixed-use project, the companies announced Monday.

The project would be one of the largest apartment complexes in the Scott’s Addition area.

“Even though we’re Washington developers … we love Richmond, Virginia,” said David Franco, principal and co-founder of Level 2 Development. “We’re very familiar; we’re very excited. There’s a lot of growth opportunity in Richmond. We’ve seen businesses coming to Richmond and population growth in the area. So we’re really excited about the prospect of working in Richmond.”