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Virginia apartments and their residents contribute $78.2B to the state economy annually, supporting 367.4K jobs. Check out www.weareapartments.org for more information on how apartments support the economy.
Visit https://www.naylornetwork.com/vam-nwl/articles/index-v4.asp?aid=579996&issueID=64972 to view the full article online. |
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NAA 2019 survey of operating income and expenses has been published and it shows a 9.8% increase to operating expenses over 2018. Labor shortages and increased salaries contributed to the increase.
Visit https://www.naahq.org/news-publications/units/september-2019/article/2019-naa-survey-operating-income-expenses-rental?utm_source=Pardot&utm_medium=Email&utm_campaign=Industry-Insider to view the full article online. |
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Charlottesville's Council is considering changing zoning so that multi-family housing can be built taller and with faster approval. The catch - developers must include income restricted housing.
Visit https://www.cvilletomorrow.org/articles/development-digest-transformative-zoning-for-south-downtown-presented-to-charlottesville-city-officials/ to view the full article online. |
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Property owners in Powhatan have brought a lawsuit against the Board of Supervisors for seeking to change the zoning of their property to agricultural from Residential Commercial. Is this an example of local government seeking to block mulit-family construction or just a change so that use matches zoning? A Judge will have to decide.
Visit https://www.richmond.com/news/local/central-virginia/powhatan/powhatan-today/lawsuit-against-powhatan-supervisors-to-go-to-trial/article_6e766adc-cf1e-11e9-8af4-af214e0015d8.html to view the full article online. |
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Millennials are calling BS on homeownership BUT traditional apartment communities are not necessarily what millennials want.
Visit https://qz.com/1686456/millennials-call-bs-on-the-benefits-of-owning-a-home/ to view the full article online. |
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Charlottesville is changing their recycling program and this article is a great overview of how trash is handled statewide and in Charlottesville. Changes will most likely be coming to all of the state's waste systems because many kinds of plastic are no longer accepted for recycling - those keurig cups are one kind ... how many does your leasing office use in a day?
Visit https://www.cvilletomorrow.org/articles/local-recycling-now/ to view the full article online. |
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Greystar is in the early stages of planning for a 350 mixed-use project on 2.4 acres in Scott's Addition in Richmond. This would be only the second "tall" project in the area.
Visit https://richmondbizsense.com/2019/09/10/developer-greystar-eyes-340-apartments-on-scotts-addition-site/?utm_source=BizSense+Backup&utm_campaign=2dce552dc3-EMAIL_CAMPAIGN_2019_09_10_12_19_COPY_02&utm_medium=email&utm_term=0_916386f49f-2dce552dc3-148081777 to view the full article online. |
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A developer plans to renovate the Janney-Marshall Building on Frederick Street. The 20,000 square foot building will be renovated for mixed-use, and the developer wants to increase the apartment quantity from 9 to 12. This increase will require approal by city council.
Visit https://www.fredericksburg.com/news/local/developer-to-renovate-downtown-fredericksburg-building-that-was-walmart-of/article_6a6eb157-92d3-58dd-8a6e-9abd02fab507.html to view the full article online. |
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An old railway yard near Rocketts Landing will be home to a new mixed-use development of more than 500 apartments and 100,000 square feet of commercial space.
Visit https://www.wric.com/news/local-news/fulton-yard-project-clears-hurdle-in-quest-for-developments-approval/ to view the full article online. |
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Blacksburg Town Council does not want student housing on the old high school land and since the zoning is currently single-family, they can hold up development indefinitely.
Visit https://www.roanoke.com/news/nrv/blacksburg-pushes-for-no-student-housing-on-old-high-school/article_f9cc9ad4-36e1-50d4-9ecb-e4fe66578e8b.html to view the full article online. |
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Developers had planned multiple phases over several years but after a strong leasing season, they plan to build out the remaining apartment buildings asap.
Visit https://richmondbizsense.com/2019/08/27/muse-buick-redevelopment-kicks-into-high-gear/ to view the full article online. |
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A Henrico-based firm is planning "Scott's Collection," a conglomeration of several buildings to have several hundred apartments.
Visit https://richmondbizsense.com/2019/08/26/innsbrook-based-firm-drops-1-6m-for-half-acre-in-scotts-addition/ to view the full article online. |
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A developer is seeking approval to demolish the Artful Lodger building to build apartments with retail space.
Visit https://www.nbc29.com/story/40969189/artful-lodger-may-move-to-make-way-for-proposed-apartment-building to view the full article online. |
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The Farm Fresh on Laskin Road is on prime real estate and developers want to tear it down and go vertical with apartments.
Visit https://www.pilotonline.com/business/article_8362aa70-c2ba-11e9-958b-7f47c7bcf2cc.html?utm_source=BizSense+Backup&utm_campaign=f4ed523b2c-EMAIL_CAMPAIGN_2019_08_21_12_28_COPY_01&utm_medium=email&utm_term=0_916386f49f-f4ed523b2c-148081777 to view the full article online. |
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Henrico County Board of Supervisors has approved rezoning to allow development of apartments at the shopping area.
Visit https://www.nbc12.com/2019/04/23/regency-square-files-rezoning-add-residential-component/ to view the full article online. |
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The site of the old Chesterfield Mall may be home to 1100 new apartments and other residential and retail offerings. Landowners have joined forces to deveop the site cummunally.
Visit https://www.chesterfieldobserver.com/articles/urban-style-residential-planned-near-old-cloverleaf-mall-site/ to view the full article online. |
