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Franklin South

1205A South Street, Franklin, Virginia 23851

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Call (757) 569-9706

Franklin South is managed by TM Associates Management, Inc.

Welcome to Franklin South, your new homes in Franklin Virginia! At Franklin South you can keep active year round whether walking along the Blackwater River in spring, swimming laps at the Franklin Municipal pool in the summer, autumnal walks along the Franklin Historic District or utilizing you fully equipped fitness center! Enjoy social gathering indoors in your community lounge and outdoors in the community courtyard with playground.

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 582 Call for Price
Two Bedroom (2/1) 734 Call for Price
1 Bedroom Wait List is Open Now

Last updated on April 19th, 2017
2 Bedroom Wait List is Open Now

Last updated on April 19th, 2017

Eligibility for Franklin South

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 Franklin but actual income limits may differ for units at Franklin South.

AMI Band 1 Person 2 Person 3 Person 4 Person
30% $16,450 $19,720 $24,860 $30,000
50% $27,350 $31,250 $35,150 $39,050
80% $43,750 $50,000 $56,250 $62,500

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 Franklin but actual income limits may differ for units at Franklin South.

AMI Band 1 Person 2 Person 3 Person 4 Person
Very Low Income (50%) $27,350 $31,250 $35,150 $39,050
Low Income (60%) $32,820 $37,500 $42,180 $46,860

Franklin South Details

  • 32 one and two bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing
  • Section 521 USDA Rental Assistance

Property Amenities

  • Fitness Center
  • Playground
  • Community Room
  • Business Center
  • Clubhouse
  • Laundry Facilities
  • High Speed Internet Access
  • Wheel Chair Accessible

Unit Amenities

  • Air Conditioning
  • Ceiling Fan(s)
  • Cable Ready
  • Window Coverings
  • Carpet
  • Refrigerator
  • Energy Efficient Appliances

Nearby Amenities

  • Close to Public Transportation

Office Hours

Day Hours
Monday 8:30am-5:00pm
Tuesday 8:30am-5:00pm
Wednesday 8:30am-5:00pm
Thursday 8:30am-5:00pm
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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

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