Heritage Place At Magnolia For Seniors
3701 15th Street
Detroit, Wayne County, Michigan 48208

Call (855) 598-3283, enter extension 41503, then hit #.

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About The Property:

Heritage Place at Magnolia is an affordable housing community for Seniors in Detroit, MI. Our amenities include a hair salon, library, fitness room, and a laundry room on all floors. Please call our site manager for more information.

Unit Information

Unit Bed/Bath Rent
One Bedroom 1/1 $-816
Two Bedroom 2/1 $-979

Property Amenities

  • Community Room
  • Library
  • Laundry Room
  • 24hr Emergency Maintenance

Unit Amenities

  • Air Conditioning
  • Cable Ready
  • Window Coverings
  • Carpet
  • Refrigerator

Nearby Amenities

  • Close to Dining
  • Close to Downtown District
  • Close to Shopping

Managed By Interstate Realty Management

Funding Programs

Heritage Place at Magnolia for Seniors 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 2004 for $798,328 with a 10 year value of $7,983,280. The property was placed in service in 2006. 88 of 88 units at Heritage Place at Magnolia for Seniors 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.

Overview

Heritage Place at Magnolia for Seniors 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).

Heritage Place at Magnolia for Seniors is an apartment community containing 88 rental units. This property serves seniors and disabled persons. The property contains 127 bedrooms and based on typical apartment occupancy limits, Heritage Place at Magnolia for Seniors is home to not more than 229 persons when fully occupied.

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.

Unit Mix

Heritage Place at Magnolia for Seniors contains a mix of 88 assisted one and two bedroom apartments for rent. There are 49 One Bedroom and 39 Two Bedroom apartments in this property. The unit mix is 56% One Bedroom and 44% Two Bedroom apartment rentals. The average bedroom size for Heritage Place at Magnolia for Seniors is 1.44.

Michigan's 14th

Congressional District

88

Total Units

88

Tax Credit Units

88

Senior Units

One and Two

Unit Mix

1.44

Average Bedroom Size

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