Victory Point Town Homes and Apartments

141 Opportunity Way, Lexington, KY 40511

Waiting List Forecast: Likely Short or None

check_circleVerified for 2022 by Ayat Elkarib

Rent	Beds	Baths	SqFt
Call for Rents^†	Floorplan Info Upon Request	-	-

This property is currently under construction.

The project began construction in February 2019 and is expected to be completed Summer of 2020.

Victory Point Town Homes and Apartments are the new construction and the historic rehabilitation of 50 units of affordable family housing for homeless veterans and their families. The project is rehabing vacant historic buildings on the Leestown VA Hospital campus in Lexington, KY into 26 units. The project will also build 24 units of newly constructed town homes on site. The project began construction in February 2019 and is expected to be completed Summer of 2020.

Dave's Thoughts On Victory Point Town Homes and Apartments

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Victory Point Town Homes and Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Victory Point Town Homes and Apartments Amenities

Convenient Location

Income Qualification for Victory Point Town Homes and Apartments

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people	7 people	8 people
50% AMI for LIHTC Units	$31,300 / year	$35,750 / year	$40,200 / year	$44,650 / year	$48,250 / year	$51,800 / year	$55,400 / year	$58,950 / year
50% AMI for PBRA Units	$31,300 / year	$35,750 / year	$40,200 / year	$44,650 / year	$48,250 / year	$51,800 / year	$55,400 / year	$58,950 / year
60% AMI for LIHTC Units	$37,560 / year	$42,900 / year	$48,240 / year	$53,580 / year	$57,900 / year	$62,160 / year	$66,480 / year	$70,740 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Victory Point Town Homes and Apartments

Does Victory Point Town Homes and Apartments have a waiting list?

Victory Point Town Homes and Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Victory Point Town Homes and Apartments?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges Victory Point Town Homes and Apartments?

Victory Point Town Homes and Apartments is managed by AU Associates headquartered in Lexington, KY.

In addition to Victory Point Town Homes and Apartments, how many other affordable housing properties (and units) are there in Lexington?

In addition to Victory Point Town Homes and Apartments, we list 176 other affordable properties in Lexington. Learn about these properties here. Our data research shows that there are a total of 5333 affordable units in Lexington.