The Greens at Virginia Center Apartment Homes

What The Greens at Virginia Center Apartment Homes does

The Greens at Virginia Center Apartment Homes is an affordable residential apartment community located at 9724 Virginia Centerway Pl in Glen Allen, Virginia, just outside Richmond. The property offers income-restricted 2- and 3-bedroom apartment homes under a federal/state tax credit affordable housing program, with eligibility tied to household income at or below 60% of area median income (AMI). Tenants must meet minimum income thresholds ($43,200 for 2-bedroom, $49,620 for 3-bedroom) and the community supports up to two pets per home (75 lb weight limit, $50/month pet rent, $500 refundable pet deposit). Functional amenities include fully appointed kitchens with dishwashers, washer/dryer connections, private balconies/patios, walk-in closets, hardwood-style flooring, and central air conditioning; community amenities include a swimming pool, clubhouse lounge, fitness center, and playground.

The property is operated and managed by Grady Management, Inc., which handles tenant screening, leasing, maintenance, and administrative functions. The technology stack is conventional multifamily-proptech: Realpage powers online leasing applications and waitlist management, while Loft Living provides the resident portal for rent payment, maintenance requests, and resident communications. CORT is offered as an ancillary furniture rental partner. Marketing is direct-to-consumer via the property website (rentwiththegreens.com), phone inquiries (804-403-7006), and on-site leasing office visits during business hours (Monday-Friday 9am-6pm, Saturday 10am-5pm).

The revenue model is straightforward residential rental with three streams: monthly rental income from 2- and 3-bedroom units, recurring pet rent and refundable pet deposits, and transactional application ($32/person) and security deposit ($1,000) fees. Leases are one-year terms and applications take 3-7 business days for approval. The community received the SFCTS Property 2025 award, indicating recognized performance within the affordable housing sector. There is no evidence of venture funding, M&A activity, or expansion beyond this single Glen Allen asset.

Name

The Greens at Virginia Center Apartment Homes

Legal name

The Greens at Virginia Center

Website

https://rentwiththegreens.com

Company type

Private

Operating status

Operating

Short description

The Greens at Virginia Center is an affordable apartment community in Glen Allen, Virginia, offering income-restricted 2- and 3-bedroom rentals under a federal/state tax credit program, managed by Grady Management, Inc. and serving households earning at or below 60% of area median income.

Ownership category

akta.pro rank

Product category

Affordable Residential Housing / Multifamily Apartment Rentals

NAICS

Rooming and Boarding Houses, Dormitories, and Workers' Camps (72131)

SIC

Operators Of Apartment Buildings (6513)

akta.pro primary industry

Independent Living Real Estate Owners/Operators (REITs & Management Companies) (HLADAAAG)

akta.pro secondary industry

Housing & Neighborhood Services (Local Housing Programs) (BPAIACAJ)

Keywords

• Affordable housing rentals
• Tax credit apartments
• Residential property management
• Income-restricted apartments
• Apartment leasing services

Headquarters

HQ city

Glen Allen

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Operations, Personnel, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Monthly Rental Income: Revenue generated from monthly rental payments for 2 and 3 bedroom apartment homes. The property operates under a tax credit affordable housing program, offering apartments at reduced rates to qualified applicants meeting income restrictions.
2. Pet Fees and Rent: Monthly pet rent of $50 per pet and refundable pet deposits of $500 per pet contribute to revenue stream. Up to 2 pets per home allowed with 75 lb weight limit per pet.
3. Application and Processing Fees: Application fee of $32 per person 18 years and older. Security deposit of $1,000 required upon lease signing.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels3 records

Core offering

The Greens at Virginia Center Apartment Homes is a residential apartment community in Glen Allen, Virginia that rents 2 and 3 bedroom apartment homes under a tax credit affordable housing program. The community offers income-restricted units at below-market rents to qualified applicants, with on-site amenities including a swimming pool, fitness center, clubhouse, and playground. Property operations including leasing, maintenance, and resident services are handled by Grady Management, Inc.

Product overview

The Greens at Virginia Center is an affordable apartment community offering 2 and 3 bedroom apartment homes in Glen Allen, Virginia. The property operates as an income-restricted housing community participating in a tax credit program, providing apartment homes at reduced rates for qualified households. The single-product offering combines comfortable living spaces with community amenities including a swimming pool, fitness center, clubhouse, and playground, all managed by Grady Management.

Differentiator

Problem solved

Functional benefit

Products and services

• The Greens at Virginia Center Apartment Homes (2 & 3 Bedroom Affordable Apartments) Affordable 2 and 3 bedroom apartment rental community in Glen Allen, Virginia, offering income-restricted housing to qualified households through a tax credit program. The community features fully equipped kitchens, in-unit washer/dryer connections, private balconies/patios, walk-in closets, and shared amenities including a swimming pool, clubhouse, fitness center, and playground.

Segments1 record

Ideal customer profiles1 record

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Four partnerships are on record, tiered core and minor.

• Grady Management, Inc.coreStrategic or Co-development PartnerGrady Management is the parent property management company overseeing The Greens at Virginia Center. They handle all operational aspects including tenant screening, maintenance, leasing, and property administration. Privacy policy and website are managed under Grady Management's corporate policies.
• CORTminorOthersCORT furniture rental partnership allows residents to furnish their apartments through CORT's services. Banner advertising on floor plans page promoting furnished apartment options.
• RealpagecoreTechnology or IntegrationRealpage provides the online leasing platform used for rental applications and waitlist management. Integrated directly into the website for seamless application submission.
• Loft LivingcoreTechnology or IntegrationLoft Living provides the resident portal platform for current residents to pay rent, submit maintenance requests, and communicate with property management.

Recent moves5 records

Expansion highlights2 records

Direct peers

• WinnCompanies: National developer and manager of affordable, mixed-income, and market-rate apartment communities. Comparable because it operates LIHTC/tax credit affordable housing with income-restricted tenants and provides comparable amenities (pools, fitness, community spaces) under similar regulatory frameworks.
• The NRP Group: Developer, owner, and operator of affordable and workforce multifamily housing across the U.S. Comparable because it develops and operates tax credit/LIHTC apartment communities for income-qualified tenants, with similar amenitized offerings, regulatory compliance requirements, and tenant screening processes.
• Bozzuto Group: Multifamily property developer, owner, and manager of apartment communities including affordable and mixed-income housing. Comparable because it operates amenitized apartment communities with similar unit types, technology integrations for leasing/resident services, and tenant qualification frameworks.
• Hunt Companies: Real estate investment and management firm with a significant affordable housing portfolio under LIHTC and other federal programs. Comparable because it owns/operates income-restricted apartment communities using tax credit programs for qualified tenants, with similar regulatory and operational frameworks.
• Related Companies: Large national affordable and mixed-income housing developer and operator. Comparable because it operates affordable housing tax credit properties with income-qualified tenants and similar amenitized residential offerings, often under comparable public-private financing structures.
• Grady Management Inc. The parent property management company operating The Greens and other affordable/market-rate multifamily communities. Directly comparable because it manages income-restricted tax credit apartment communities using the same operating model, technology stack (Realpage/Loft Living), and tenant qualification framework.

Broad incumbents

• Mid-America Apartment Communities: Multifamily REIT operating apartment communities across the Southeast and Sunbelt. Comparable because it operates similar amenitized garden-style apartment communities in markets like Virginia with comparable unit types (2-3 BR), though at significantly larger scale and focused on market-rate rentals.
• AvalonBay Communities: Large multifamily REIT operating amenitized apartment communities across the U.S. Comparable because it develops and operates similar amenitized apartment communities (pools, fitness, community spaces) with comparable unit configurations, though focused primarily on market-rate rather than affordable housing.
• Greystar Real Estate Partners: Largest multifamily property management and investment firm in the U.S., managing a broad portfolio of conventional and affordable apartment communities. Comparable because it operates similar amenitized apartment communities with technology-driven leasing platforms and similar resident service models, though at much larger scale and including both affordable and market-rate segments.
• Berkshire Residential Investments: Residential real estate investment manager operating multifamily portfolios including workforce and affordable housing. Comparable because it manages apartment communities for income-qualified tenants under similar regulatory frameworks, though typically operating larger portfolios at institutional scale.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat2 records

Key risks5 records

Key highlights6 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about The Greens at Virginia Center Apartment Homes