Cornerstone Apartments

1957 Fort Ave, Lynchburg, Virginia 24501

Contact Cornerstone Apartments

CHP preserved and renovated several large historic homes into multi-family rental apartments for very low-income and low-wealth families. These homes underwent a major rehabilitation, gutting interiors, redesigning the spaces, and dividing the houses into comfortably-sized family units.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
2 Bedroom (2/1)	-	Call for Price

Eligibility for Cornerstone Apartments

Cornerstone Apartments Details

11 one and two bedroom units.
Low-Income Housing Tax Credit (LIHTC)

Unit Amenities

Refrigerator

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.