Bcn Properties 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 1998.
The property was placed in service in 2000.
53 of 53
units at Bcn Properties are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was located in
a Qualified Census Tract and a Difficult Development Area qualifying it for additional tax credit financing.
Bcn Properties is an affordable apartment community located in Boston, Massachusetts
which is located in Suffolk County.
The property is located in Massachusetts's 7th Congressional
District served by Representative Michael Capuano (D),
Senator Elizabeth Warren (D) and Senator Edward Markey (D).
Bcn Properties is an apartment community containing 53 rental units.
The property contains 158 bedrooms and based on typical apartment occupancy limits, Bcn Properties
is home to not more than 315† 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.
Bcn Properties contains a mix of 53 assisted
one, two, three, and four bedroom apartments for rent. There are 2 One Bedroom, 15 Two Bedroom, 18 Three Bedroom, and 18 Four Bedroom apartments in this property. The unit mix is 4% One Bedroom, 28% Two Bedroom, 34% Three Bedroom, and 34% Four Bedroom apartment rentals. The average bedroom size for Bcn Properties is 2.98.