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VAMA News
August is typically a sweaty, slow-moving affair here in Virginia, to wind down the summer and give us time to mourn the coming of school (or celebrate it for parents!) and the shortening of the days. Not so for your intrepid team at the Virginia Apartment Management Association! From Southwest Virginia to the Supreme Court of the United States, there have been a slew of notable developments for Virginia apartment community operators.
  
In August, VAMA | CVA participated in the 4th annual Ultimate Backpack Supply Drive presented by CoStar and hosted by VCU to benefit the Richmond City Public Schools. There were 16 VAMA communities that hosted supply drives at their communities and/or collected monetary donations and 30 volunteer members that joined us at The Diamond to help stuff backpacks at this charitable event.  
The National Apartment Association will be offering five education sessions on diversity and inclusion during their first annual D&I Awareness week, October 11-15. 
  
VAMA is partnering with the Richmond League of Women Voters and Virginia Housing Alliance to encourage apartment renters to register to vote. Renters have been shown to be less likely to vote than homeowners, but we believe our members can help change that. Please help us spread the word!
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Build Your Skills
A recap of a recent webinar by Grace Hill and AppFolio dives in to common maintenance challenges and ways to leverage your property maintenance to increase NOI.
Increase resident engagement! Learn three tips about the content you should post on Instagram as an apartment community.
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Development News
Livingston Apartment Flats, a 307-unit community consisting of one-, two- and three-bedrooms, was aquired by Capital Square for an undisclosed price. 
The 100-year-old former home of Dan River Mills operations will be redevloped into 110,000 square feet of commercial space and 150 apartment units, with 100 additional units to come later. 
The tract of land off Nuckols Road was sold for $2.95 million. The planned building will consist of 234 apartments, 5,600 square feet of office space and a parking deck. 
Dwight Capital has provided $35.7 million in HUD refinancing for 201 Twenty One Apartments, located off 21st Street in Norfolk. The 225-unit community sits atop six ground-level commercial units. 
Plans were filed for Locks Building 7, which would consist of 138 apartments, and Locks Building 8, consisting of 120 apartments. Both buildings, located off E. Byrd Street, will also include ground-level commercial space. 
The mixed-use building includes 13 apartments and over 42,000 square feet of commercial space. Located at 1300 MacTavish Ave, the building sold for $10.8 million. 
The 62-unit senior community, Gypsy Hill Place, consists of one- and two-bedroom apartments as well as 30,000 square feet of commercial and amenity space.