708 Water Street, Santa Cruz, CA 95060
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 562 - 755 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Water Street Apartments is a 41-unit affordable residential community in Santa Cruz, CA, that provides housing for very low and low-income individuals and families. It is conveniently situated near downtown where numerous commercial establishments are accessible. It is a mile away from the heart of downtown Santa Cruz. Elementary, middle, and high schools are within 1.5 miles, and parks and trails are close by. A Santa Cruz Metro Transit stop is within a quarter mile of the community.
Because Water Street Apartments participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom One Bath (1/1) | 562ft2 | Call for Price† |
| Two Bedroom One Bath (2/1) | 755ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $57,650 / year | $65,900 / year | $74,150 / year | $82,350 / year |
| 50% AMI for PBRA Units | $57,650 / year | $65,900 / year | $74,150 / year | $82,350 / year |
| 60% AMI for LIHTC Units | $69,180 / year | $79,080 / year | $88,980 / year | $98,820 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Water Street Apartments have a waiting list?
Water Street Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Water Street Apartments?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Water Street Apartments?
Water Street Apartments is managed by EAH
In addition to Water Street Apartments, how many other affordable housing properties (and units) are there in Santa Cruz?
In addition to Water Street Apartments, we list 29 other affordable properties in Santa Cruz. Learn about these properties here. Our data research shows that there are a total of 1877 affordable units in Santa Cruz.
When was the Water Street Apartments listing last updated?
Water Street Apartments listing on Affordable Housing Online was last updated on 01/01/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
1635 Tremont Dr, Santa Cruz, California 95062
721 Bay St, Santa Cruz, California 95060
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