On Luck Hsg Greater South Cove Golden Age Ctr
25 -31 Essex St
Boston, Suffolk County, Massachusetts 02111

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Funding Programs

On Luck Hsg Greater South Cove Golden Age Ctr 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 1988. The property was placed in service in 1988. 9 of 35 units at On Luck Hsg Greater South Cove Golden Age Ctr are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was located in a Difficult Development Area qualifying it for additional tax credit financing.

Overview

On Luck Hsg Greater South Cove Golden Age Ctr 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).

Rental Subsidies

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.

Massachusetts's 7th

Congressional District

9

Tax Credit Units

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