In a heartwarming display of community involvement, members of VAMA | Central Virginia have once again teamed up with VCU's Ultimate Backpack Supply Drive for the third consecutive year. In 2023, there were:
• 22 apartment community donation collection sites
• 30 VAMA volunteers to stuff backpacks
• $1,217 collected in monetary donations
• 2,778 school supplies donated by VAMA members and their residents
• 30,625 backpacks filled with supplies provided to K-12 students in the Greater Richmond area
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A recent letter to the Federal Housing Finance Agency from Senator Sherrod Brown, co-signed by Virginia's own Senators Tim Kaine and Mark Warner, prompts the question: do regulations like rent contol actually work in stabilizing housing supply and affordability?
We understand that you have a lot to consider when putting together your budgets and calendar for the coming year. When it comes to your association needs, we want to help make this as easy as possible. That's why we've compiled a guide that includes 2024 membership dues, calendar, event & education pricing (including supplier and sponsorship pricing), and more for all six of VAMA's chapters. Happy planning!
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Data pulled from Zumper's most recent Renter Survey, including percentage of pet-friendly apartment communities, parks per capita, veterinarian costs, and more revealed that Richmond, VA is the most pet-friendly city in the U.S. for renters.
Source: Zumper
Welcome News: multifamily industry turnover appears to be trending down. In AppFolio's latest survey of property management employees, 9% of the 2,300 survey participants said they were "considering leaving their company or the industry" before the end of the year. In contrast, the company found in their previous survey (from 2022) that 25% of respondents were planning to make a career change.
Source: Multifamily Executive
Presented by the National Apartment Association (NAA) and Yardi Breeze, the highly anticipated IRO Summit is back for another year, offering independent rental owners a unique educational opportunity. Mark your calendars for Thursday, September 21, and get ready to delve into a wealth of knowledge and industry insights at this FREE virtual event. The IRO Summit is designed to cater to the needs of independent rental owners, regardless of the size of their portfolio. It focuses on providing timely and valuable information and resources to those who hold an ownership interest and actively participate in property operations.
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VAMA's New River Valley is turning September's Membership Breakfast into a life-saving learning opportunity! Attendees can choose to take one or both of the following certifications: Stop the Bleed and Revive (Virginia's Opioid Overdose and Naloxone Education program). Register today for this essential training to equip you and your team for the unforeseen.
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Sep 2023
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10am Advisory Committee
1pm Events & Education Committee
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Breeden Construction proudly announced the completion of a luxury apartment community in Chester, Virginia: The Station at Chester. The community includes 201 units, ranging in size from 650 to 1,300 square feet, a 4,000 square foot clubhouse, and more.
Source: The Breeden Company
Acclaim at the Hill, Bonaventure's newest 62+ active adult community, has begun pre-leasing its 147 units. Meanwhile, the company's other new community in the area has also started pre-leasing. Attain at Towne Centre will offer one-, two-, and three-bedrooms comprising 217 units and Class A amenities.
Source: Bonaventure
Sauer Properties received approval from the Chesterfield Board of Supervisors to add 350 new apartments to the shopping center they own off Midlothian Turnpike near Robious Road. The apartments will be built in phases, with phase 1 being built where a mostly vacant shopping strip stands. Completion of the final phase will bring the total retail space from 183,000 square feet down to 67,500 square feet.
Source: Richmond BizSense
The income-based community in South Richmond was recently purchased by Lincoln Avenue Capital for $18.1 million. The company plans to renovate property interiors and exteriors, including new kitchens, bathrooms, flooring, roofing, and more. Renovations are expected to be complete by the end of 2024.
Source: Richmond BizSense
American Heritage Apartments, a 12-story, 57-unit community located at 1001 E. Main St, sold to D.C.-based Cleghorn Capital. This was the second sale of the property since 2021.
Source: Richmond BizSense
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