(RECAP: New investors with small or no experience in operating affordable housing are bidding high for aging rental housing communities built with affordable housing programs. “Affordable housing has become a commodity that is traded through brokers,” says Scott Kline, vice president for the National Housing Trust. “And there are a lot of bidders.” These deals can make sense for for-profit investors, at least in the small term. But it’s not clear whether these new, for-profit landlords are up to the challenge of managing these properties or what their long-term plans are for the assets.)

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(RECAP: The proposed six-tale Standard building on West Main Street returned to the Charlottesville Board of Architectural Review on Tuesday, more than three years after the panel first signed off on its design. Georgia-based Landmark Properties had to amend the original certificate of appropriateness approved by the BAR in January 2014 because one of the building’s corners must be modified to meet federal regulations. The BAR approved a demolition permit to take down the existing three-tale Republic Plaza in August 2013. That work has not yet occurred. Republic Plaza was built in 1988 and incorporated a building that used to house a Safeway grocery store. The Standard is plotted as a six-tale apartment building with 644 bedrooms. There will be 7,000 square feet of commercial space.)

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(RECAP: Developers of the former Westhampton Theater site in Richmond’s West End have reduced the height of the proposed project at Grove and Libbie avenues from four tales to three. Revised plans to redevelop the property into retail, office, restaurant and residential space were submitted to the city last week. High-end, spacious condominiums have been scratched along with dedicated underground parking for residents. Developers instead plot to build 12 residences on the third floors, ranging from 750 square feet to 950 square feet each.)

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