Village Square Apartments was developed and operates with Federal housing financing.
The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.
Low Income Housing Tax Credit
The property was developed using the Low Income Housing Tax Credit Program.
This program incentivizes investors to inject capital into rental apartments for lower income Americans.
The property received a tax credit allocation in 2004.
The property was placed in service in 2005.
101 of 116
units at Village Square Apartments are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.
Village Square 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).
Village Square Apartments is an apartment community containing 116 rental units.
The property contains 182 bedrooms and based on typical apartment occupancy limits, Village Square Apartments
is home to not more than 339† persons when fully occupied.
This property does not provide any Federal rent subsidies to renters
reducing total tenant payments to 30% of their adjusted income. Renters are required to
pay the full rent, even if it is in excess of 30% of their income. In some cases the
property may accept Section 8 Housing Choice vouchers.
Village Square Apartments contains a mix of 116 assisted
one and two bedroom apartments for rent. There are 50 One Bedroom and 66 Two Bedroom apartments in this property. The unit mix is 43% One Bedroom and 57% Two Bedroom apartment rentals. The average bedroom size for Village Square Apartments is 1.57.