720 Prospect Ave, Charlottesville, VA 22903
Waiting List Forecast: Likely Short or None
Verified for 2019 by Jill Matthews| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 Bath | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Located in Charlottesville, Virginia, Greenstone on 5th is a 202-unit multi-family community rented to low-income households. The community is centrally located to downtown, the University of Virginia, and the local bus line.
The entire community underwent extensive interior and exterior renovations that improved the overall property to make it a more desirable place to live.
Onsite Amenities include: Community rooms with computer lab, community kitchen, library, onsite laundry and playground. Vibrant resident services program including after school care, adult education, computer literacy, girl scouts and parks and recreation programs.
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 Greenstone on 5th 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
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | - | Call for Price† |
| 2 Bedroom (2/1) | - | Call for Price† |
| 3 Bedroom (3/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $38,850 / year | $44,400 / year | $49,950 / year | $55,500 / year | $59,950 / year | $64,400 / year |
| 50% AMI for PBRA Units | $38,850 / year | $44,400 / year | $49,950 / year | $55,500 / year | $59,950 / year | $64,400 / year |
| 60% AMI for LIHTC Units | $46,620 / year | $53,280 / year | $59,940 / year | $66,600 / year | $71,940 / year | $77,280 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Greenstone on 5th Apartments have a waiting list?
Greenstone on 5th 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 Greenstone on 5th 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 Greenstone on 5th Apartments?
Greenstone on 5th Apartments is managed by Community Housing Partners headquartered in Christiansburg, Virginia.
In addition to Greenstone on 5th Apartments, how many other affordable housing properties (and units) are there in Charlottesville?
In addition to Greenstone on 5th Apartments, we list 36 other affordable properties in Charlottesville. Learn about these properties here. Our data research shows that there are a total of 2492 affordable units in Charlottesville.
Know your rights as a Section 8 tenant.
In many areas, private landlords with an available unit can refuse interested tenants who have a Section 8 voucher. Check your local laws.Ivette Betancourt says:
"Affordable Housing Online is a helpful website that can benefit many families looking for a decent affordable home."