900 Federal St, Lynchburg, VA 24504
Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units
Verified for 2024 by Lorena Bentley, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 2 Beds | 1 Bath | - |
Since this property is a LIHTC property that may have rental assistance for some or all units, there might be seperate or split waiting lists for rental assistance and non-rental assistance units. In this case, the rental assistance waiting list can be much longer than properties without rental assistance. The non-rental assistance units waiting list is likely much shorter or it may not have a waiting list at all. 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.
Nestled in a quiet historical neighborhood, this beautiful old building, built in 1899, first served as the original Lynchburg High School, and later as Frank Roane Elementary School. In 1980, Lynchburg Covenant Fellowship, with the help of the Virginia Housing Development Authority, converted the school into 26 apartments, 1 efficiency, and 25 1 and 2 bedroom units. This created affordable housing for low-income elderly individuals, 62 years of age and older. Frank Roane is conveniently located on the bus line with on-site laundry facilities and private off-street parking. All of the apartments at Frank Roane are Project Based Section 8 and Low Income Housing Tax Credit units. These apartments are income and rent restricted.
All of the apartments have Universal Design features, and five apartments are fully accessible, meeting Section 504 of the Americans with Disabilities Act requirements. Universal Design is the design and composition of an environment so that it can be accessed, understood and used to the greatest extent possible by all people regardless of their age, size, ability or disability. LCF’s Resident Services Coordinator provides recreational, educational, and cultural programs for the residents in the on-site community room.
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. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. This property does participate in the Section 8 Project-Based Rental Assistance program and your rent would be subsidized and based on your income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since Frank Roane Apartments has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, since this property has a Section 8 Project-Based Rental Assistance contract, your Section 8 voucher can not be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, 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 need help paying your rent and are willing to wait for a longer waiting list.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Call for Price† |
| One Bed One Bath (1/1) | - | Call for Price† |
| Two Bedroom One Bath (2/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 30% AMI for PBRA Units | $17,450 / year | $19,950 / year | $24,860 / year | $30,000 / year |
| 50% AMI for LIHTC Units | $29,050 / year | $33,200 / year | $37,350 / year | $41,500 / year |
| 50% AMI for PBRA Units | $29,050 / year | $33,200 / year | $37,350 / year | $41,500 / year |
| 60% AMI for LIHTC Units | $34,860 / year | $39,840 / year | $44,820 / year | $49,800 / year |
| 80% AMI for PBRA Units | $46,500 / year | $53,150 / year | $59,800 / year | $66,400 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Frank Roane Apartments have a waiting list?
Frank Roane Apartments probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Frank Roane Apartments?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Frank Roane Apartments?
Frank Roane Apartments is managed by Lynchburg Covenant Fellowship headquartered in Lynchburg, Virginia.
In addition to Frank Roane Apartments, how many other affordable housing properties (and units) are there in Lynchburg?
In addition to Frank Roane Apartments, we list 89 other affordable properties in Lynchburg. Learn about these properties here. Our data research shows that there are a total of 2391 affordable units in Lynchburg.
When was the Frank Roane Apartments listing last updated?
Frank Roane Apartments listing on Affordable Housing Online was last updated on 06/12/2024 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
2315 Yorktown Avenue, Lynchburg, Virginia 24501
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