1333 DIAMOND SPRINGS RD, Virginia Beach, VA 23455
Waiting List Forecast: Likely Short or None
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio Bed | 1 Bath | 360 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.
Crescent Square, VSH’s fifth development in South Hampton Roads, opened in 2016 and includes 42 units for formerly homeless individuals and 38 units for individuals earning 50 percent or less of the area median income. Crescent Square is VSH’s second property in Virginia Beach and the organization’s second mixed-income community—meaning that it serves both formerly homeless and low-income individuals. As with other properties, VSH offers on-site supportive services through case managers who help residents stabilize, retain their housing and reclaim their lives. In turn, residents sign leases and pay a minimum rent payment of $50 per month.
Project-Based Vouchers
Because Crescent 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. Because of the LIHTC program, additional units are set aside for households earning 50% or less of the AMI with corresponding lower rent caps.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 360ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $20,800 / year | $23,800 / year | $26,750 / year | $30,000 / year | $35,140 / year | $40,280 / year | $45,420 / year | $50,560 / year |
| 50% AMI for LIHTC Units | $34,650 / year | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year | $61,400 / year | $65,350 / year |
| 50% AMI for PBRA Units | $34,650 / year | $39,600 / year | $44,550 / year | $49,500 / year | $53,500 / year | $57,450 / year | $61,400 / year | $65,350 / year |
| 60% AMI for LIHTC Units | $41,580 / year | $47,520 / year | $53,460 / year | $59,400 / year | $64,200 / year | $68,940 / year | $73,680 / year | $78,420 / year |
| 80% AMI for PBRA Units | $55,450 / year | $63,400 / year | $71,300 / year | $79,200 / year | $85,550 / year | $91,900 / year | $98,250 / year | $104,550 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Crescent Square have a waiting list?
Crescent 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 Crescent 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.
What property management company manges Crescent Square ?
Crescent Square is managed by Virginia Supportive Housing headquartered in Richmond, VA.
In addition to Crescent Square , how many other affordable housing properties (and units) are there in Virginia Beach?
In addition to Crescent Square , we list 113 other affordable properties in Virginia Beach. Learn about these properties here. Our data research shows that there are a total of 4393 affordable units in Virginia Beach.
When was the Crescent Square listing last updated?
Crescent Square listing on Affordable Housing Online was last updated on 01/01/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.
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