Shelter Development Corp. 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.
90 of 90
units at Shelter Development Corp. 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.
Shelter Development Corp. is an affordable apartment community located in Baltimore, Maryland
which is located in Baltimore City County.
The property is located in Maryland's 3rd Congressional
District served by Representative John Sarbanes (D),
Senator Chris Van Hollen (D) and Senator Benjamin Cardin (D).
Shelter Development Corp. is an apartment community containing 90 rental units.
The property contains 87 bedrooms and based on typical apartment occupancy limits, Shelter Development Corp.
is home to not more than 133† 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.
Shelter Development Corp. contains a mix of 90 assisted
studio and one bedroom apartments for rent. There are 3 Studio and 87 One Bedroom apartments in this property. The unit mix is 3% Studio and 97% One Bedroom apartment rentals. The average bedroom size for Shelter Development Corp. is 0.97.