Grant Park Apartments
331-a W Grant St
Phoenix, Maricopa County, Arizona 85003

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Funding Programs

Grant Park Apartments was developed and operates with Federal housing financing. The property utilizes the Project Based Sec. 8 Federal housing program to make rent affordable to lower income tenants.

Section 8

Grant Park Apartments has a project-based Section 8 contract. 52 of the 52 total units at the property receive Section 8 assistance. This means that 100% of the renter households in the property pay no more than 30% of their adjusted income for rent.

The current Section 8 contract was effective on November 01, 2010 and the contract expires on October 31, 2030. The Section 8 contract rent is 88.1% of the Fair Market Rent for the area. According to the HUD Multifamily database, the fair market rents for the area are $735.00 for One Bedroom, $914.00 for Two Bedroom, and $1,332.00 for Three Bedroom.

19% of Arizona properties and 26% of all properties across the country have Section 8 rental subsidies. See the Rent Subsidies section for more.

Overview

Grant Park Apartments is an affordable apartment community located in Phoenix, Arizona which is located in Maricopa County. The property is located in Arizona's 6th Congressional District served by Representative David Schweikert (R), Senator John McCain (R) and Senator Jeff Flake (R).

Grant Park Apartments is an apartment community containing 52 rental units. The property contains 101 bedrooms and based on typical apartment occupancy limits, Grant Park Apartments is home to not more than 197 persons when fully occupied.

Rent Subsidies

Grant Park Apartments provides rental subsidies to renters. The type of subsidy provided to apartment renters in Phoenix, AZ by this property is Project Based Sec. 8.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is a minimum rent payment of not less than $25 and as much as $50 for all subsidy recipients at this property. That means that even if a renter has zero income, they will still be required to pay rent. In recent years, there have been various legislative proposals to increase the Section 8 minimum rent but advocates make the valid point that minimum rents affect the poorest of the poor.

Unit Mix

Grant Park Apartments contains a mix of 52 assisted one, two, and three bedroom apartments for rent. There are 9 One Bedroom, 37 Two Bedroom, and 6 Three Bedroom apartments in this property. The unit mix is 17% One Bedroom, 71% Two Bedroom, and 12% Three Bedroom apartment rentals. The average bedroom size for Grant Park Apartments is 1.94.

Arizona's 6th

Congressional District

52

Total Units

52

Project Based Sec. 8 Units

88.1

% of Fair Market Rent

31-Oct-30

Project Based Sec. 8 Contract Expiration

One, Two, and Three

Unit Mix

1.94

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data