Robert L Fortes House was developed and operates with Federal housing financing.
The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants.
These programs are Low Income Housing Tax Credit and Section 202.
The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors
who are 62 or older. The program provided both capital financing to construct the property and operating subsidies
that work as rental assistance like the Section 8 program.
Robert L Fortes House is among only 209† Section 202 properties
in Massachusetts and 6,166† in the country.
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 2003.
The property was placed in service in 2004.
44 of 44
units at Robert L Fortes House 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.
Robert L Fortes House 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).
Robert L Fortes House is an apartment community containing 44 rental units.
This property serves seniors and disabled persons. The property contains 44 bedrooms and based on typical apartment occupancy limits, Robert L Fortes House
is home to not more than 66† persons when fully occupied.
Robert L Fortes House provides rental subsidies to renters. The type of subsidy provided to apartment renters in Boston, MA by this property is Section 202 Rental Assistance.
This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays
the difference. To qualify, a renter must earn 50% or less of the Area Median Income.
There is no minimum rent at this property for residents receiving a rent subsidy but
in recent years, there has been discussions in Congress to implement a minimum rent in the
Section 202 Program to reduce cost burden on the Federal budget.
Robert L Fortes House contains a mix of 44 assisted
one bedroom apartments for rent. There are 44 One Bedroom apartments in this property. The unit mix is 100% One Bedroom apartment rentals. The average bedroom size for Robert L Fortes House is 1.