Riverwood Village Apartments
1500 E 16th St, Russellville, Arkansas 72802
Contact Riverwood Village Apartments
Riverwood Village Apartments is managed by RichSmith Management.
Riverwood Village Apartments is an affordable rental housing community located in Russellville, Arkansas featuring 1Bed(s) to 3 Bed(s). Riverwood is a Section 8 Project based property and eligibility is dependent on income verification. Please contact Riverwood Village Apartments apartments for rates, availability and more information.
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | - | Call for Price |
| 2 Bedroom (2/1) | - | Call for Price |
| 3 Bedroom (3/2) | - | Call for Price |
Eligibility for Riverwood Village Apartments
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 Russellville but actual income limits may differ for units at Riverwood Village Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
|---|---|---|---|---|---|---|
| 30% | $14,580 | $19,720 | $24,860 | $30,000 | $34,600 | $37,150 |
| 50% | $22,400 | $25,600 | $28,800 | $32,000 | $34,600 | $37,150 |
| 80% | $35,850 | $41,000 | $46,100 | $51,200 | $55,300 | $59,400 |
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 Russellville but actual income limits may differ for units at Riverwood Village Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
|---|---|---|---|---|---|---|
| Very Low Income (50%) | $22,400 | $25,600 | $28,800 | $32,000 | $34,600 | $37,150 |
Riverwood Village Apartments Details
- 72 one, two and three bedroom units.
- Water and Sewer utilities included in rent
- Electricity utility included in rent
- Section 8 Project-Based Rental Assistance (PBRA)
- Low-Income Housing Tax Credit (LIHTC)
- Section 221 (d) (3)
Property Amenities
- Fitness Center
- Playground
- Business Center
- Clubhouse
- On-Site Manager
- On-Site Maintenance
- Coin-Operated Laundry
- Computer Room
Unit Amenities
- Dishwasher
- Garbage Disposal
Section 8 Project-Based Rental Assistance (PBRA)
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.
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