On July 3rd, Congress passed—and on July 4th, President Trump signed—the "One Big Beautiful Bill," marking the most substantial expansion of the Low-Income Housing Tax Credit (LIHTC) program in decades. The legislation permanently increases the 9% LIHTC allocation and lowers the bond financing threshold for 4% credits, changes expected to significantly accelerate affordable housing development. While industry leaders are calling it a generational victory, the bill’s passage came at a steep price: deep cuts to Medicaid, food assistance, and other essential safety net programs. As housing advocates celebrate a long-sought legislative triumph, they also brace for the human impact of trade-offs embedded in the broader reconciliation package.

VAMA is looking for dedicated members to help lead our mission through service on statewide committees and the 2026 Board of Directors. With opportunities to match different interests and availability, it’s a great way to get involved, grow your network, and shape the future of Virginia’s rental housing industry. Applications are due by July 28, 2025.

As remote work becomes a long-term reality, multifamily communities are reimagining their spaces to meet the needs of remote workforce residents. From flexible unit layouts with built-in workspaces to high-speed internet, coworking lounges, soundproofing, and wellness amenities, today’s apartments are being designed for productivity and comfort. Property managers are also adapting marketing strategies to highlight features that appeal to remote workers, helping to attract and retain this growing segment while supporting stronger, more connected communities.
Source: Multi-Housing News

The National Apartment Association has opened applications for its 2026 Scholarship Track, offering three key opportunities to support professional growth and inclusivity in the rental housing industry. Programs include credential scholarships for underrepresented groups, up to $25,000 in DEI innovation grants, and full support to attend Apartmentalize in New Orleans. These initiatives provide career-boosting education, networking, and funding for impactful ideas.

Join industry expert Leah Brewer, aka The Leasing Queen, for “Top 10 Ways to Increase Your Occupancy FAST!” on Wednesday, August 20. This dynamic virtual session will deliver actionable strategies to boost leasing performance, increase leads, improve retention, and ensure your team is maximizing every opportunity. Perfect for leasing professionals and property leaders, this course also earns you 2 CECs toward your NAA credential.

Rock Creek Property Group and Two Rivers Realty Partners have acquired Avalon Townhomes in Hampton for $26.5 million, marking Rock Creek’s first investment in the Tidewater region. The 182-unit townhome community, originally built in 1966 and partially renovated in 2017, features spacious residences averaging 1,656 square feet. Located in the Buckroe Beach revitalization area, the property aligns with Hampton’s 2040 Master Plan.
Source: Daily Press

Legacy Landing is a new 155-unit mixed-income apartment community in downtown Newport News, built to revitalize the historic Marshall-Ridley neighborhood. Phase 1, featuring 71 one- to three-bedroom apartments, is now complete, with the second phase expected by the end of the year. The project, supported by a $30 million HUD grant, prioritizes returning residents from Ridley Place and aims to create a lasting, vibrant community.

The Port at East Beach, a luxury waterfront apartment community professionally managed by Drucker + Falk, completed its initial lease-up in under eight months. Offering upscale one-, two-, and three-bedroom units with water views, the community features resort-style amenities, over 100 marina slips, a resident clubhouse, smart home features, and an onsite restaurant.

SNP Properties has begun construction on a 12-story, 255-unit apartment building at 200 E. Marshall St. in Richmond’s Jackson Ward, set to be one of the tallest new builds in the neighborhood. The project will include a rooftop pool, a 200-space below-grade parking deck, and 11,000 square feet of street-level retail, with at least one restaurant space planned. Originally proposed in 2021, the development faced delays due to shifting capital markets but is now expected to be completed in early 2027.
Source: Richmond BizSense

The Beach Co. is moving forward with a new development in Richmond’s Manchester neighborhood, featuring 206 apartments and 21 townhome-style rental units on the former Thurston Spring Service site. Inspired by leasing trends at its nearby Eddy on the James project, the six-story building will prioritize larger units and reduce the share of one-bedrooms to just over 50%. Construction is expected to begin in early 2026.

The Canopy, a nearly $80 million mixed-use development, is under construction on the former Linkhorn Park Elementary School site in Virginia Beach. The project will feature 132 apartments, including one-, two-, and three-bedroom units, with first move-ins expected in March 2026. Residents will enjoy amenities like an infinity pool, pickleball courts, walking trails, and a fitness center. The apartments will sit above 10,000 square feet of retail space, with several businesses already expressing interest.