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The Venable neighborhood generally lies north of the University of Virginia's central grounds, east of Emmet Street, south and west of Preston Avenue, and west of 11th Street. It contains 133.23 acres. Major corridors are University Avenue, Preston Avenue, Emmet Street, 14th Street, and Rugby Road. Development of the neighborhood began in the late 1890's, primarily by University professors and local professionals. Subdivided in 1906 - 1908, University Circle was originally developed by a group of faculty members. The oldest portions of the neighborhood contain a broad range of residential, commercial and institutional structure types and styles built between the 1890's and the Great Depression, and that variety has continued in more recently developed areas. Many of the homes on Rugby Road were designed by noted architects and built before the 1940's.

When the University of Virginia admitted women and began to significantly increase its enrollment in the 1970's, there was not enough on-grounds housing for the students. The Venable neighborhood had a history of established families taking in a student or two; as long-time residents died or moved away, many of the large houses were converted into rentals and the boarding tradition became the student rental/property management industry so prevalent in the area today. Boarding houses, run mainly by widows and professors' wives, were also an important source of student housing from the late 19th century until after World War II. Houses throughout the neighborhood offered a room or two to students; boarding houses were concentrated along University Avenue, Elliewood Avenue, Chancellor Street, and Virginia Avenue. The percentage of rental units in the area continues to grow, and many of the permanent residents consider it to be a serious threat to their quality of life.

In addition to the University academic and fraternity/sorority properties, major facilities in the neighborhood include Venable Elementary School, the Gordon Avenue Library, several churches, and childcare centers. The Corner business district, located on University Avenue between Chancellor Street and 12-1/2 Street, also lies within the Venable Neighborhood. Beginning in the 1830's and 1840's, a few businesses were established along Three Chopt'd Road (now University Avenue) to serve the University community. In the late 1800's and early 1900's, this area rapidly grew into the full-fledged retail and service district it is today. Both Rugby Road and University Corner are recommended for designation (and protection) as local historic districts in the Historic Preservation Plan (June 1993) and Comprehensive Plan (1995).

Venable has been included in the following special studies (at least in part): A Study of Four Neighborhoods Adjacent to the University of Virginia (Department of Community Development, May 1980); The City as a Park (Greg Bleam Architects, 1998); City of Charlottesville Commercial Corridor Study (Torti Gallas CHK, 2000).