606 Phoebus St, Portsmouth, VA 23704
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| 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.
King Square consists of 57 units and was completed in December 2007. The development consists of 8 one-bedroom, 34 two-bedroom, and 15 three-bedroom units.
Phoebus Square located at Westbury, consists of 122 one-bedroom units that were completed in January 2010. The development is a senior living community that is bright, secure and packed with amenities.
Because King Square/Phoebus Square participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, 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 One Bath (1/1) | - | Call for Price† |
| One Bedroom One Bath (Phoebus Square) (1/1) | - | Call for Price† |
| Two Bedroom One Bath (2/1) | - | Call for Price† |
| Three Bedroom One Bath (3/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $20,800 / year | $23,800 / year | $26,750 / year | $30,000 / year | $35,140 / year | $40,280 / year |
| 50% AMI for LIHTC Units | $34,650 / year | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year |
| 50% AMI for PBRA Units | $34,650 / year | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year |
| 60% AMI for LIHTC Units | $41,580 / year | $47,520 / year | $53,460 / year | $59,400 / year | $64,200 / year | $68,940 / year |
| 80% AMI for PBRA Units | $55,450 / year | $63,400 / year | $71,300 / year | $79,200 / year | $85,550 / year | $91,900 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does King Square/Phoebus Square have a waiting list?
King Square/Phoebus Square 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 King Square/Phoebus Square?
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.
In addition to King Square/Phoebus Square, how many other affordable housing properties (and units) are there in Portsmouth?
In addition to King Square/Phoebus Square, we list 41 other affordable properties in Portsmouth. Learn about these properties here. Our data research shows that there are a total of 4010 affordable units in Portsmouth.
When was the King Square/Phoebus Square listing last updated?
King Square/Phoebus Square listing on Affordable Housing Online was last updated on 01/02/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
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