SafeRent, an AI screening tool used by housing providers, will no longer use AI-powered “scores” to evaluate whether someone using housing vouchers would make a good tenant. The $2.3 million settlement stems from a 2022 class action lawsuit filed in Massachusetts alleging that SafeRent's scoring disproportionately harmed voucher users by relying on non-transparent algorithms and factors unrelated to rent payments, violating Massachusetts law and the Fair Housing Act.

Artificial Intelligence is now playing a key role in enhancing leasing process efficiency and customer experience, a shift accelerated by the pandemic. Virtual leasing agents provide 24/7 communication through chat, text, or phone calls, helping prospects with tours, pricing, and inquiries. This technology eases the workload of leasing staff, allowing them to focus on higher-value interactions. AI-powered systems also help centralize prospect data, reducing repetitive tasks for staff and improving morale. Beyond leasing, AI is being explored for improving areas like delinquencies, renewals, and maintenance. 

Ensuring multifamily properties are as secure as possible is a priority for every property manager. Smart property technology gives managers the tools they need to effectively safeguard their buildings and residents.

Two Chesterfield County apartment complexes sold on the same day for a combined $138 million. The Park at Salisbury, a 320-unit complex near Midlothian Turnpike, was sold by Kushner Cos. for $79.2 million to Ohio-based Coastal Ridge Real Estate. Commonwealth Apartments, a 234-unit property near Hull Street Road, sold for $59.2 million to Atlanta-based Mesa Capital Partners.

Watercrest Senior Living Group, in partnership with Harbert Seniors Housing Fund II and Centric Development, is building Watercrest Fredericksburg Assisted Living and Memory Care, a 142-unit luxury senior living community in Fredericksburg. Opening in Spring 2025, it will feature 106 assisted living and 36 memory care apartments, with amenities like a promenade, theater, multiple dining options, and a spa.  

Norfolk is exploring plans to redevelop MacArthur Center into a mixed-use complex featuring a 400-room military-themed hotel, retail spaces, apartments, and a pedestrian promenade. While some national developers have expressed interest, high interest rates and concerns about significant public investment have raised skepticism among City Council members. Norfolk Economic Development Director Sean Washington aims to recommend a master developer by spring 2025, but the city has ruled out projects requiring substantial tax increases. 

Since Richmond declared a housing crisis in 2023, the city has seen a surge in affordable housing proposals, with plans for over 2,800 income-based units. Developers like Elmington are planning projects such as 266 units in Swansboro and 400 in Northside, while Standard Communities and Lynx Ventures have additional plans for hundreds of affordable units in South Richmond. Henrico County is also contributing, with Spy Rock Real Estate and Crescent Development planning to redevelop Glenwood Farms into 1,000 low-income units.

Greystar has acquired a 6-acre site at 2700 W. Leigh St. near Scott’s Addition for $18.4 million to develop a 388-unit, seven-story apartment community. The multifamily development will replace a wooded lot and include updates to a previously approved 374-unit plan. Located in a transit-oriented district, the project aims to provide modern housing in the growing Scott’s Addition area.