608 Upper St, Danville, VA 24541
Waiting List Forecast: Likely Short or None
Verified for 2019 by Lorena Bentley, Colleen Carter, Ric Gresia, Joshua CappellRent | Beds | Baths | SqFt |
---|---|---|---|
Call for Rents† | 1 - 2 Beds | 1 Bath | - |
This property is currently under construction.
Contact the Danville Redevelopment and Housing Authority for more information on when this project will be open and accepting tenants.
Sherman M. Saunders Court features 1-bedroom and 2-bedroom handicap-accessible apartments for veterans and those with disabilities. in the beautifully restored historic building that formerly served as the site of Sledd Memorial Church and the Community Improvement Council Head Start Building.
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 Sherman M. Saunders Court 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 |
---|---|---|
One Bedroom (1/1) | - | Call for Price† |
Two Bedroom (2/1) | - | Call for Price† |
AMI* | 1 person | 2 people | 3 people | 4 people |
---|---|---|---|---|
50% AMI for LIHTC Units | $24,750 / year | $28,250 / year | $31,800 / year | $35,300 / year |
50% AMI for PBRA Units | $24,750 / year | $28,250 / year | $31,800 / year | $35,300 / year |
60% AMI for LIHTC Units | $29,700 / year | $33,900 / year | $38,160 / year | $42,360 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Sherman M. Saunders Court have a waiting list?
Sherman M. Saunders Court 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 Sherman M. Saunders Court?
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 Sherman M. Saunders Court?
Sherman M. Saunders Court is managed by Excel Property Management headquartered in Raleigh, NC , North Carolina.
In addition to Sherman M. Saunders Court, how many other affordable housing properties (and units) are there in Danville?
In addition to Sherman M. Saunders Court, we list 28 other affordable properties in Danville. Learn about these properties here. Our data research shows that there are a total of 1822 affordable units in Danville.
114 North Hills Court, Danville, Virginia 24541
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Cathy Watkins says:
"I’m just glad I could find Affordable Housing Online. If I can find a low-income rental, I can see retirement."