250 W Grand Boulevar 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.
19 of 20
units at 250 W Grand Boulevar 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 qualifying it for additional tax credit financing.
250 W Grand Boulevar is an affordable apartment community located in Detroit, Michigan
which is located in Wayne County.
The property is located in Michigan's 14th Congressional
District served by Representative Brenda Lawrence (D),
Senator Gary Peters (D) and Senator Debbie Stabenow (D).
250 W Grand Boulevar is an apartment community containing 20 rental units.
The property contains 18 bedrooms and based on typical apartment occupancy limits, 250 W Grand Boulevar
is home to not more than 29† 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.
250 W Grand Boulevar contains a mix of 20 assisted
studio and one bedroom apartments for rent. There are 2 Studio and 18 One Bedroom apartments in this property. The unit mix is 10% Studio and 90% One Bedroom apartment rentals. The average bedroom size for 250 W Grand Boulevar is 0.9.