Snapshot

NAA and NMHC launched a national grassroots campaign effort called:
“Protect the Lease” Campaign on Tax Reform.  This article contains the background you need in order to let your elected Congresspersons and Senators that protecting tax programs for housing are necessary to maintain the stability of the rental marketplace.

Visit http://www.naylornetwork.com/vam-nwl/pdf/Protect_the_Lease_Backrounder.pdf to view the full article online.

After slipping for five years, Virginia has moved up this year in a prominent ranking of the best states for doing business.  Virginia came in at No. 7 on this year’s list of the top states, released Tuesday by business-focused news channel CNBC.

Visit http://www.richmond.com/business/local/virginia-moves-up-in-cnbc-rankings-of-best-states-for/article_f2177d6d-97f3-5d69-af7f-8d43b31f2b3f.html to view the full article online.

Hoping to help some of the approximately 1,600 people seeking public housing or federal housing vouchers in Charlottesville, the city’s housing authority and local government are developing a locally funded housing voucher program.

Visit http://www.dailyprogress.com/realestate/articles/city-officials-proposing-locally-funded-housing-voucher-program/article_8ef41064-7180-11e7-b749-bb2898916a01.html to view the full article online.

RICHMOND, Va. – A new study concluded that affordable housing is not located near available jobs in the Richmond metropolitan area.

Visit http://wtvr.com/2017/07/14/study-finds-imbalance-of-jobsaffordable-housing-in-richmond-metro/ to view the full article online.

Tech’s housing team is already prepping by turning some large double rooms into triple rooms, converting student lounges into bedrooms and giving resident advisors — who normally occupy single rooms — roommates, said Frank Shushok, Tech’s senior associate vice president for student affairs.

Visit http://www.roanoke.com/news/education/higher_education/virginia_tech/virginia-tech-preps-for-largest-freshman-class-in-school-history/article_4a09f6a1-f966-5b4d-ad6a-42c0f3eb1e0b.html to view the full article online.

Prices Fork Village is leading a redevelopment that will convert former classrooms to 16 two-bedroom apartments for adults age 55 years and up and turn the rest of the old school into space for a brewery, farm-to-table restaurant and commercial kitchen and incubator to serve local growers and entrepreneurs in the food business.

Visit http://www.roanoke.com/news/local/montgomery_county/grant-for-old-price-s-fork-elementary-revitalization-approved/article_7c3c86fc-2675-5182-800d-a9423ba1536a.html to view the full article online.

Lightfoot Development, LLC based in Gainesville, Va. has proposed building a residential and commercial development at the intersection of Lightfoot and Old Mooretown Roads, according to a proposal filed with York County’s Planning Commission.

Visit http://wydaily.com/2017/08/01/luxury-apartments-retail-complex-proposed-for-lightfoot-biz/ to view the full article online.

The building on N. Main Street was built in the early 1900s and will soon be home to 22 apartments and three businesses. The studio, one, and two-bedroom apartments start at $750 per month. However, Property Manager Mary Messerley says the apartments are full.

Visit http://www.whsv.com/content/news/Work-nearly-finished-on-Keezell-building-for-new-apartments--436530733.html to view the full article online.

Bit by bit, rebuild the area – sometimes called “St. Paul’s” – into mixed-income neighborhoods, where parks, gardens, shops and offices join 1,800 to 2,000 new homes, about a third of them set aside for people who get rental assistance. The overhaul could involve $1 billion in new private and public investment.

Visit https://pilotonline.com/news/local/most-of-norfolk-s-public-housing-could-be-gone-in/article_359e3039-d094-50bf-b951-ee78dfa7c764.html?utm_source=BizSense+Backup&utm_campaign=6611d86947-EMAIL_CAMPAIGN_2017_07_19&utm_medium=email&utm_term=0_916386f49f-6611 to view the full article online.

Raffaele Allen felt the former Bank of America building at 1 Commercial Place in Norfolk needed a name that could live up to what it is and what it will become when it is transformed into luxury apartments.

Visit https://pilotonline.com/inside-business/news/commercial-real-estate/iconic-building-in-downtown-norfolk-set-for-its-new-role/article_01ed2093-f0b3-5c40-9ce0-4bbee2893348.html to view the full article online.

A rising player in the local real estate market has been quietly growing his holdings in a Northside neighborhood that’s increasingly on developers’ radars.

Visit http://richmondbizsense.com/2017/07/10/local-investor-snaps-up-brookland-park-storefronts/?utm_source=BizSense+Backup&utm_campaign=9dc64f10f6-EMAIL_CAMPAIGN_2017_07_07&utm_medium=email&utm_term=0_916386f49f-9dc64f10f6-148081777 to view the full article online.

An apartment building described by one city official as “blighted” and an adjoining medical building will be demolished in the next 18 months to make way for a new 68-unit affordable residential development anchored by commercial space.

Visit http://www.progress-index.com/news/20170709/new-residential-development-coming-to-downtown-hopewell to view the full article online.

Spy Rock Real Estate recently wrapped up work on nearly two dozen apartment properties that made up the bulk of Billy Jefferson’s River City Renaissance portfolios, which Spy Rock and Boston-based Davis Cos. purchased for $37.35 million in a 2015 auction.

Visit http://richmondbizsense.com/2017/07/12/spy-rock-wraps-up-billy-jefferson-portfolio-renovations/?utm_source=BizSense+Backup&utm_campaign=81db369610-EMAIL_CAMPAIGN_2017_07_11&utm_medium=email&utm_term=0_916386f49f-81db369610-148081777 to view the full article online.

Panco Strategic Real Estate Fund III, an affiliate of Pantzer Properties, acquired the property for what amounts to $199,653 per unit. Dean Sigmon and Robin Williams of Transwestern’s Mid-Atlantic Multifamily Group represented the seller, an affiliate of the Bozzuto Group.

Visit https://www.bizjournals.com/washington/news/2017/07/25/manassas-apartment-community-sells-for-115m.html?utm_source=BizSense+Backup&utm_campaign=2faa0ef372-EMAIL_CAMPAIGN_2017_07_26&utm_medium=email&utm_term=0_916386f49f-2faa0ef372-148081777 to view the full article online.

The Richmond Redevelopment and Housing Authority’s Board of Commissioners passed a resolution authorizing a study of the steps needed before the agency seeks permission from the U.S. Department of Housing and Urban Development to replace public housing funding at Creighton, Fairfield, Gilpin, Hillside, Mosby and Whitcomb courts with vouchers.

Visit http://www.richmond.com/news/local/city-of-richmond/richmond-housing-authority-moving-forward-with-plans-to-convert-public/article_c88ec8b2-37fd-5573-a081-ed95700c35a8.html to view the full article online.

In one of the priciest local apartment deals in recent memory, a nearly 30-year-old complex near Short Pump surpassed the $50 million mark with its sale last week to a Southside Richmond-based buyer.

Visit http://richmondbizsense.com/2017/07/18/local-buyer-picks-up-short-pump-apartments-for-51m/?utm_source=BizSense+Backup&utm_campaign=6ec1a758e0-EMAIL_CAMPAIGN_2017_03_09&utm_medium=email&utm_term=0_916386f49f-6ec1a758e0-148081777 to view the full article online.

The area surrounding Chesterfield Towne Center has the largest imbalance between low-wage jobs and affordable housing in the entire region.

Visit http://www.chesterfieldobserver.com/news/2017-07-26/Front_Page/Report_County_suffers_jobshousing_imbalance.html?utm_source=BizSense+Backup&utm_campaign=9062522411-EMAIL_CAMPAIGN_2017_07_27&utm_medium=email&utm_term=0_916386f49f-9062522411-148081777 to view the full article online.

Forget about looking for a roommate on Craigslist or blowing your budget on an expensive one-bedroom apartment. They'll rent you a room in a building full of amenities and people eager to make friends.

Visit http://www.chicagobusiness.com/article/20170722/ISSUE01/170729953/co-living-in-chicagos-ukrainian-village-logan-square-south-loop?utm_source=BizSense%20Backup&utm_campaign=269a2acac1-EMAIL_CAMPAIGN_2017_07_25&utm_medium=email&utm_term=0_916386f49f-269a2ac to view the full article online.

The first time Amelia Howells ever wrote a check, she was 28 years old and standing in a Connecticut apartment leasing office, with no idea what to do.

Visit https://www.bloomberg.com/news/articles/2017-07-26/why-can-t-americans-give-up-paper-checks?utm_source=BizSense+Backup&utm_campaign=2faa0ef372-EMAIL_CAMPAIGN_2017_07_26&utm_medium=email&utm_term=0_916386f49f-2faa0ef372-148081777 to view the full article online.

"Do you talk to strangers?” Asking a leasing candidate about a conversation with a stranger is a good starting point to understand how easily they can connect.

Visit https://www.multifamilyinsiders.com/multifamily-blogs/hiring-new-leasing-staff-look-for-someone-who-talks-to-strangers?utm_source=Multifamily+Insiders+-+The+Weekly+%22Insider%22+Newsletter&utm_campaign=09df100437-Newsletter_May_16_20175_15_2017&utm_medium to view the full article online.

Why is there such a disconnect between Office Teams and Maintenance Teams? Perhaps the disconnect is at the Corporate level, rather than the on-site level? A little communication seems in order.

Visit https://www.multifamilyinsiders.com/multifamily-blogs/your-employees-are-complaining-are-you-listening-1?utm_source=Multifamily+Insiders+-+The+Weekly+%22Insider%22+Newsletter&utm_campaign=386584b8dc-Newsletter_July_18_20177_14_2017&utm_medium=email&utm_te to view the full article online.

Resident retention and reputation management are incredibly important in the market that we are in currently. What value added amenities are we offering our residents? How are we making them feel special and appreciated?

Visit https://www.naahq.org/news-publications/renters-who-renew-save-almost-4000 to view the full article online.