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.
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Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Greenstone on 5th Apartments is managed by Community Housing Partners.