For a $25 contribution per entry to VAMAPAC, you could win a full conference registration to the Virginia Governor's Housing Conference (VAGHC), worth $499, and an invitation to VAMA’s exclusive networking event. The winner will be announced on October 4th in the VAMA Weekly Government Affairs Update—don’t miss out on this great opportunity!

While most state legislatures have adjourned, local governments are actively pursuing rent control measures, with NAA currently tracking numerous ordinances, resolutions and ballot measures nationwide. Despite decades of evidence showing the harmful effects of rent control on housing markets, many areas are still moving forward with restrictive policies. Some jurisdictions are imposing permanent caps on rent increases, often with minimal exemptions, while others are considering further expansions of rent regulations that would discourage new construction and exacerbate existing shortages. As these harmful policies continue to spread, NAA remains committed to supporting efforts to expand housing supply as the only proven solution to address housing affordability.

In the demanding world of property management where no two days are alike, establishing boundaries is not just about safeguarding personal space; it's about maintaining professional integrity, ensuring work-life balance, and promoting a healthy workplace culture. The responsibilities associated with working in property management can sometimes blur the lines between professional obligations and personal time. Drawing clear boundaries helps in managing these responsibilities effectively while avoiding burnout. Here are five ways property management professionals can set these crucial limits in the workplace. 

Multifamily property managers are increasingly turning to centralization as a way of streamlining operations and improving efficiency. By adopting property management software or cloud-based platforms, multifamily managers can easily and quickly centralize operations. Whole portfolios can be managed from one interface, procedures can be standardized, purchasing power increased, and valuable data insights gained to inform business decisions. Consolidating operations into one unified system offers many benefits to property managers, however, the potential disadvantages to centralization need to be considered too, with strategies put in place to mitigate the pitfalls.

The City of Charlottesville has conditionally approved a $3 million investment in Phase 1 of the 6th Street affordable housing development, which will provide 47 fully subsidized units. The upgrade will replace outdated units built over 40 years ago, adding central air and a community center. Residents involved in the project’s development will be temporarily relocated to other CRHA properties during construction.

A parking lot for the former Spring Rock Green shopping center in Chesterfield County is being transformed into The James, a six-story mixed-use building with 300 apartments and 30,000 square feet of ground-floor retail space. Construction is expected to be completed by mid-2025, with leasing efforts for retail and restaurant tenants set to ramp up this fall.

Capital Square received zoning approval to develop an eight-story mixed-use apartment community and luxury hotel at 1600 Roseneath Road in Richmond’s Scott’s Addition neighborhood. The 2.18-acre property will include 220 apartment units and 100 luxury hotel rooms, with construction beginning in summer 2025.

The Roanoke Economic Development Authority has allocated $225,000 to the Roanoke Workforce Housing Development Fund to boost affordable housing, supplementing the $2 million received from the American Rescue Plan. A Virginia Tech study found a shortage of over 4,000 housing units in Roanoke, with many residents spending more than 30% of their income on housing. Developers can apply for funding to build affordable housing, with 20% of units reserved for families earning no more than 60% of the area’s median income, and must remain affordable for 20 years.

Broad Street Realty Midtown, LLC is seeking approval to add five new residential units to the Current Midtown Apartments, part of the Midtown Row complex, which already features restaurants, shops and community event space. The proposal includes converting commercial space into three three-bedroom and two four-bedroom units on the first floor.