Cypress Terrace
85 Cypress Terrace, Newport News, Virginia 23608
Contact Cypress Terrace
Cypress Terrace is managed by Newport News Redevelopment and Housing Authority.
Cypress Terrace Apartments offers a variety of townhomes and apartments ranging from 1-bedroom to 4-bedroom floor plans. Each unit comes cable ready and features private entrances, washer hook-up, air conditioning, a patio, and utility allowance. Property amenities include a recreation center, coin-operated laundry facility, youth recreation program, and resident council activities. The community is near the Newport News/Williamsburg Airport, shopping centers, Patrick Henry Mall, and the HRT bus service.
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom One Bath (1/1) | - | Call for Price |
| Two Bedroom One Bath (2/1) | - | Call for Price |
| Three Bedroom One Bath (3/1) | - | Call for Price |
| Four Bedroom Two Bath (4/2) | - | Call for Price |
Waiting List is Closed
Some units at this property are available through Newport News Redevelopment and Housing Authority's Various Communities Public Housing Waiting List. Learn about this waiting list here.Eligibility for Cypress Terrace
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 Newport News but actual income limits may differ for units at Cypress Terrace.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $20,800 | $23,800 | $26,750 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% | $34,650 | $39,600 | $44,550 | $49,500 | $53,500 | $57,450 | $61,400 | $65,350 |
| 80% | $55,450 | $63,400 | $71,300 | $79,200 | $85,550 | $91,900 | $98,250 | $104,550 |
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 Newport News but actual income limits may differ for units at Cypress Terrace.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $34,650 | $39,600 | $44,550 | $49,500 | $53,500 | $57,450 | $61,400 | $65,350 |
| Low Income (60%) | $41,580 | $47,520 | $53,460 | $59,400 | $64,200 | $68,940 | $73,680 | $78,420 |
Cypress Terrace Details
- 82 one, two, three and four bedroom units.
- HOME Investment Partnerships Program
- Low-Income Housing Tax Credit (LIHTC)
- Rental Assistance Demonstration (RAD)
Property Amenities
- Coin-Operated Laundry
- Utility Allowance
- Resident Activities
- On-Site Laundry
Unit Amenities
- Air Conditioning
- Handicapped Accessible
- Washer and Dryer Hookup
- Cable Ready
- Patio Deck Or Balcony
- Private Entrance
HOME Investment Partnerships Program
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
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.
Rental Assistance Demonstration (RAD)
Since this property is subsidized in part through the Rental Assistance Demonstration (RAD), some apartments may have Section 8 Project-Based Rental Assistance (PBRA) or Section 8 Project-Based Vouchers (PBV). With either type of subsidy, tenant rent payments are 30% of their adjusted monthly income. Households earning less than 80% of the area median income may qualify for PBRA or PBV reduced rents. Some of these subsidized apartments may be reserved for extremely low-income households earning less than 30% of the area median income. If the apartment has a PBV, the tenant may qualify for a Section 8 Housing Choice Voucher (HCV) after living there at least one year. Some rental units in this property may not have PBRA or PBV subsidies and therefore may have higher rents.
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