1020 Thrive Place, Chesapeake, VA 23323
Waiting List Forecast: Likely Short or None
Verified for 2024 by Lorena Bentley, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,213 - 1,398 per Month† | 2 - 3 Beds | 1 - 2 Baths | 975 - 1,200 Sq Ft |
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.
Thrive Apartment Homes offer affordable 2-bedroom and 3-bedroom floor plans. Each unit comes cable ready and features a fully-equipped kitchen with a dishwasher, custom cabinetry, spacious closets, wood-like plank flooring, and washer/dryer connections. Property amenities include an on-site laundry facility and 24-hour emergency maintenance. This scenic community is surrounded by several parks which feature miles of walking trails, playgrounds, boat/canoe launches and events which are held throughout the year. Thrive Apartment Homes is in a convenient location - minutes from Portsmouth, Norfolk, and Virginia Beach with easy access to Highway 17, Highway 460, and I-64/I-264. The community is also a short distance from Lake Drummond and the Natural Wildlife Reserve.
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 Thrive 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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 |
|---|---|---|
| Two Bedroom (2/1) | 975ft2 | $1,213† |
| Three Bedroom (3/2) | 1200ft2 | $1,398† |
| AMI* | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year | $61,400 / year |
| 50% AMI for PBRA Units | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year | $61,400 / year |
| 60% AMI for LIHTC Units | $47,520 / year | $53,460 / year | $59,400 / year | $64,200 / year | $68,940 / year | $73,680 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Thrive Apartments have a waiting list?
Thrive 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 Thrive 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 Thrive Apartments?
Thrive Apartments is managed by S.L Nusbaum Realty Co headquartered in Norfolk, Virginia.
In addition to Thrive Apartments, how many other affordable housing properties (and units) are there in Chesapeake?
In addition to Thrive Apartments, we list 84 other affordable properties in Chesapeake. Learn about these properties here. Our data research shows that there are a total of 4828 affordable units in Chesapeake.
When was the Thrive Apartments listing last updated?
Thrive Apartments listing on Affordable Housing Online was last updated on 06/20/2024 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
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Do you have little or no income?
You can qualify for most rental assistance programs, including Section 8 and Public Housing, even if you have little or no income.Jenn Rebecca Jones says:
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