The Democratic Senate of Virginia and the Republican House of Delegates, both held by the slimmest majorities, will begin on Wednesday to work on only the bills that have been passed in their counterpart Chamber. This means that from here on out, only the Democratic Senate can take action on the bills passed by the Republican House of Delegates, and vice versa. This is a dangerous time for any legislation, as each Chamber’s majority seeks to strong-arm, convince, or persuade the other to pass their agenda.

VAMA is proud to announce that for the second consecutive year, one of our members was chosen to participate in the National Apartment Association's Diversity Leadership Program. Congratulations to Camil Davis with S.L. Nusbaum Realty Company for being one of fifteen industry professionals to be selected for the program's class of 2022. 

According to a recent RealPage report, occupancy rates in January were higher than ever. 146 of the 150 largest US metro areas saw occupancy rates over 96%, with some markets (including Virginia Beach) seeing rates above 98%. Additionally, year-over-year effective asking rents had increased 15%, all of which RealPage attributes to wage growth, household formation and low unemployment. 

A joint Grace Hill/NMHC survey revealed that 45% of respondents said they worked from their apartment several times a week in 2021, and more space and better amenities are more important than ever. The survey report shows which amenities are "must-haves" for today's renter and which they are willing to pay a premium for. 

The Great Resignation has been hard on a multitude of industries, and multifamily housing has not been exempt. As employees are leaving at record-breaking rates, onsite staff still on the front lines are burned out from picking up the slack of their community's open positions. Learn four ways to utilize technology to help alleviate the burden and improve employee satisfaction. 

Charlottesville-based Castle Development Partners is planning the community in Midlothian, which would consist of 10 buildings on a 22-acre site. 

The structure would consist of 240 apartments above a two-story parking deck and 10,000 square feet of commercial space. The U-shaped building would also house amenity space on top of the parking deck. 

The 11 North at White Oak Apartments, located off N Laburnum Ave, sold for $154.4 million, a record-breaking high for Henrico County. The community consists of 1,184 units in 109 buildings, making the cost per door over $130,000. 

The 552-unit community was acquired by Featherstone Partners, which plans to add amenities and operational improvements through management by Drucker + Falk. The community was built in 1948 and renovated in 2009. 

The Breeden Company has begun leasing The Lofts at Front Street, a 258-unit luxury apartment community set on the Elizabeth River in Norfolk, Va. The Lofts at Front Street offers 1-, 2- and 3-bedroom apartments with rents starting at $1700/month. 

Breeden Construction announces completion of a mixed-use community in Richmond, Va., The Ella Apartments. The project was completed for the developer, Spy Rock; Breeden Construction served as the general contractor. The $34 million project began in November 2019. Despite the numerous obstacles created by the global pandemic the project was completed on time.

Southwest Virginia Community College has broken ground on a student housing building, a first for a community college in the state. The first phase will consist of six 4-bedroom apartments, which are expected to rent for $600 per bedroom per month.