The 2025 Virginia election results have shifted political power, with Democrats expanding their majority in the House of Delegates. This change is expected to bring significant policy impacts for the rental housing industry. VAMA urges housing providers to engage with legislators and share their real-world experiences to help shape fair and informed housing policies.

Looking to grow your team with fresh talent? VAMA regularly participates in career fairs and educational panels across Virginia to raise awareness about the rental housing industry and connect with individuals interested in building a career in multifamily housing. We collect contact information from these potential candidates and make it available exclusively to VAMA members who sign our Confidentiality and Data Use Agreement. Complete the agreement today to gain access to this valuable recruitment resource.

Virginia will distribute an additional $15 million through the Virginia Workforce Housing Investment program to support the development of housing for middle-income employees, part of a $75 million five-year commitment. The program, administered by Virginia Housing, provides loans, grants, and subsidies to localities and nonprofits building homes for those earning 80–120% of the area median income (up to 150% in rural areas). Including matching investments, the initiative is expected to leverage up to $750 million and support 5,000 new workforce housing units statewide.

Artificial intelligence in multifamily is moving beyond chatbots to transform marketing, leasing, and operations. AI helps teams deliver personalized messaging, optimize ad campaigns, generate content, and gain predictive insights into renter behavior—all while improving efficiency and supporting human creativity. From virtual staging and 3D walkthroughs to predictive pricing and automated leasing assistants, AI enhances both prospect and resident experiences. As operators plan for 2026, leveraging AI-driven analytics, personalization at scale, and operational efficiencies will be key to driving occupancy, retention, and marketing ROI. Industry leaders share how they are using AI today—and offer inspiration for how your team can harness its potential.

Riverbend Development plans to replace a former church at 914 Monticello Rd. with a three-story, 33-unit apartment building featuring 19 one-bedroom and 14 two-bedroom units. The project is the second phase of Riverbend’s Downtown Belmont development, following a first phase of up to 206 units across five buildings. The building will include a 42-space parking garage and is being developed under Charlottesville’s new zoning code, which allows the project to move forward without city council approval.

Capital Square has purchased the 200-unit Wellington Place and 50-unit Lawndale Farms apartment communities in eastern Henrico’s Varina area for a combined $35.8 million. Wellington Place, built in the 1990s, offers market-rate housing near Taylor Farm Park, while Lawndale Farms, dating to the 1960s, provides income-restricted units for households earning below area median income. The acquisitions mark Capital Square’s first investments in eastern Henrico, expanding its growing multifamily portfolio across the region.
Source: Richmond BizSense

Shipyard Flats, a $24.5 million redevelopment by The Monument Cos., has opened in downtown Newport News, transforming a 1937 department store into 91 modern apartments. The pet-friendly community offers one- and two-bedroom units with rents from $1,299 to $1,899, including utilities and on-site parking. The restored property also features two commercial storefronts and preserves the building’s historic façade while adding a bright, modern atrium interior.
Source: Daily Press

Audeo Partners has begun construction on two four-story apartment buildings at 2425 and 2501 Grayland Ave., bringing 221 new market-rate units to Richmond’s Fan District. The project includes a 200-space underground parking garage and follows the firm’s nearby redevelopment of The Carousel, a 125-unit mixed-income community across the street. Designed by WPA Studios, the new buildings will offer modern apartments with high-end amenities and are among the largest multifamily developments the Fan has seen in recent years.

D.C.-based Audeo Partners plans to convert The Virginia Home’s longtime Byrd Park facility at 1101 Hampton St. into The Tinsley, a 131-unit apartment community. The redevelopment will preserve much of the building’s historic façade and include an income-based component, with 30% of units reserved for residents earning up to 80% of the area median income. Construction is expected to begin after The Virginia Home relocates to its new Hanover County facility late next year.

Norfolk-based developer The Lawson Companies has received approval to build Refuge, a 180-unit affordable apartment community at 5015 Snead Road in Richmond’s Piney Knolls area. The one-, two-, and three-bedroom apartments will be reserved for renters earning below 60% of the area median income, with amenities including a clubhouse, pool, fitness center, walking trail, and dog park. Construction is expected to be completed in early 2028.

A $64 million mixed-use development is planned for the 300 block of Laskin Road in Virginia Beach, featuring 215 apartments, a parking deck, and 20,000 square feet of restaurant, retail, and office space. The project, led by VB Laskin Road LLC, will replace an aging row of shops. Developers expect to finalize plans within two years, with the site located in the city’s new Art and Culinary Artery District.