3943 Chamberlayne Avenue, Richmond, VA 23227
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley, Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $904 - 1,214 per Month† | 1 - 3 Beds | 1 Bath | 540 - 1,050 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.
Terraces at Bellevue is an affordable apartment complex that offers 1-bedroom, 2-bedroom and 3-bedroom floorplans . Each unit includes central heat & air, dishwasher, garbage disposal, microwave, refrigerator, and washer/dryer hookups. Community amenities include spanish speaking staff, night patrol, and on-site management & maintenance. They are conveniently located on the GRTC bus line and within minutes of I-95 and downtown.
Pet Policy: Maximum two pets, combined maximum weight of 35 lbs. Initial Fee: $300/one pet; $345/two pets. Monthy Pet Rent: $25/one pet; $45/two pets. Restrictions: No agressive breeds
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 Terraces at Bellevue 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 |
|---|---|---|
| 1 Bedroom (1/1) | 540ft2 | $904 $924† |
| 2 Bedroom (2/1) | 785ft2 | $1,014† |
| 3 Bedroom (3/1) | 1050ft2 | $1,214† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $37,350 / year | $42,650 / year | $48,000 / year | $53,300 / year | $57,600 / year | $61,850 / year |
| 50% AMI for PBRA Units | $37,350 / year | $42,650 / year | $48,000 / year | $53,300 / year | $57,600 / year | $61,850 / year |
| 60% AMI for LIHTC Units | $44,820 / year | $51,180 / year | $57,600 / year | $63,960 / year | $69,120 / year | $74,220 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Terraces at Bellevue have a waiting list?
Terraces at Bellevue 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 Terraces at Bellevue?
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 Terraces at Bellevue?
Terraces at Bellevue is managed by Genesis Properties Inc. headquartered in Richmond, VA.
In addition to Terraces at Bellevue, how many other affordable housing properties (and units) are there in Richmond?
In addition to Terraces at Bellevue, we list 161 other affordable properties in Richmond. Learn about these properties here. Our data research shows that there are a total of 17993 affordable units in Richmond.
When was the Terraces at Bellevue listing last updated?
Terraces at Bellevue listing on Affordable Housing Online was last updated on 05/16/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
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