Island Walk Coop

1701 Torrey Pines Ct, Reston, Virginia 20190

Contact Island Walk Coop

Message Island Walk Coop

Island Walk Coop Details

  • 102 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)
  • HOME Investment Partnerships Program

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Reston HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Reston but actual income limits may differ for units at Island Walk Coop.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $29,900 $34,200 $38,450 $42,700 $46,150 $49,550 $52,950 $56,400
50% $49,850 $56,950 $64,050 $71,150 $76,850 $82,550 $88,250 $93,950
80% $63,000 $72,000 $81,000 $90,000 $97,200 $104,400 $111,600 $118,800

Reston Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Reston but actual income limits may differ for units at Island Walk Coop.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $49,850 $56,950 $64,050 $71,150 $76,850 $82,550 $88,250 $93,950
Low Income (60%) $59,820 $68,340 $76,860 $85,380 $92,220 $99,060 $105,900 $112,740

Nearby Low Income Apartment Communities

The Apartments At North Point

11694 North Point Ct
Reston, Virginia
Call For Rent
1-3 BR
Affordable

Lake Anne Fellowship House

11444 North Shore Dr
Reston, Virginia
Call For Rent
Studio-2 BR
Rent Assisted
62+
Accessible
Elderly Supportive Housing

Cedar Ridge Apartments

1601 Becontree Ln
Reston, Virginia
Rent Assisted

Hunter Woods Fellowship

2231 Colts Neck Rd
Reston, Virginia
Rent Assisted