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VAMA News
  
On November 17, VAMA's very own Ronda Puryear with Management Services Corporation (MSC) was installed at the 2023 National Apartment Association (NAA) Chair of the Board of the Directors at the 2022 Assembly of Delegates meeting held in Norfolk, Virginia. 
Governor Youngkin announced his “Make Virginia Home” plan at this year’s annual Governor’s Housing Conference held in Arlington County in November. The plan broadly seeks to partner state resources with localities to shear off some of the mounting pressure on our inadequate supply of rental and for-sale housing that is driving housing costs for Virginians so high. 
  
Monica joined VAMA in 2022 as the new Membership Coordinator.  Her goal is to use her many years of customer service and knowledge of the rental housing industry to creatively provide altruistic customer care to members.  By working with committees on membership initiatives, providing one-on-one services, maintaining an accurate database and other membership related projects, Monica welcomes becoming concierge to VAMA members.
  
The Roanoke-Lynchburg chapter of the Virginia Apartment Management Association hosted their annual Star Awards on the evening of December 2 at Charter Hall. These awards recognize the best and brightest the Roanoke-Lynchburg multifamily rental housing industry has to offer. Please help us congratulate the winners! 
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The Blue Ridge chapter of the Virginia Apartment Management Association hosted their annual Prestige Awards on the evening of December 8 at The Greencroft Club in Charlottesville.These awards recognize excellence in the field of property management.  Each year, groups of impartial judges tour the area communities and interview team members, and have recognized the following apartment communities and staff as leaders in the field of property management. 
A brand new study from RentCafe lists the top 20 most competitive rental markets in the U.S. The Richmond-Tidewater market was listed at number 15. Markets were scored based on the average number of days an apartment sits vacant, occupancy percentages, number of prospective renters, lease renewal rate, and share of new construction.
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Development News
Brightpoint Community College and Boyd Homes are teaming up for a development that will include 245 apartments and 10,000 square feet of commercial space. The apartments will be market-rate and the community will feature a pool and clubhouse. 
The Breeden Company announced the grand opening of their newest luxury multifamily asset, The Lofts at Front Street, in Norfolk, Virginia. The new community is set on the banks of the Elizabeth River/Intracoastal Waterway.
Fountainhead Real Estate Development and Dodson Development Group have plans for a 163-unit apartment community at the site of a vacant warehouse on Maury Street. The community will feature five floors of apartments over a 70-space parking deck.
The Quality Inn Central hotel, located just north of The Diamond, is under contract. The buyer plans to raze the building and replace it with a 375-unit apartment community. The planned project would be five stories and include a 510-space parking deck. 
Featherstone Partners recently purchased garden-and-townhome-style community Royal Pointe Apartments for $36 million. The company plans to upgrade the 1987-built community with interior and amenity improvements.