A BILL to amend the Code of Virginia by adding a section numbered 15.2-2286.2, relating to zoning; by-right multifamily development. Zoning; by-right multifamily development. Requires a locality to include provisions in its zoning ordinance allowing for the by-right development and construction of multifamily residential uses on at least 75 percent of all land contained in commercial or business zoning district classifications, including any land contained in commercial or business zoning district classifications that allow for the by-right development and construction of single-family residential uses. The bill provides that such provisions shall not apply in underdeveloped areas that are covered by a tree canopy of at least 60 percent, impose more stringent land use requirements for such development than would otherwise be required, or require that a special exception, special use, or conditional use permit be obtained for such development. The bill also (i) stipulates that the review and approval of such development shall be done administratively by the locality's staff; (ii) requires that the zoning ordinance provisions must exempt any proposed development that converts an existing building to a multifamily residential use from any setback, height, or frontage requirements; (iii) permits the zoning ordinance provisions to require any proposed development to dedicate some or all of its ground floor space to commercial uses; and (iv) provides that any proposed residential development that dedicates a minimum of 10 percent of the total number of housing units to affordable housing may be offered application incentives by the locality. The bill also prohibits localities from approving any commercial or business use on a property adjacent to the approved multifamily residential development that is different from the use that had been established at the time the multifamily residential development was approved.