Marketplace Ldha Lp
3676 Rivard
Detroit, Wayne County, Michigan 48207

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Funding Programs

Marketplace Ldha Lp 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 1995. The property was placed in service in 1996. 48 of 120 units at Marketplace Ldha Lp 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

Marketplace Ldha Lp 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).

Marketplace Ldha Lp is an apartment community containing 120 rental units. The property contains 260 bedrooms and based on typical apartment occupancy limits, Marketplace Ldha Lp is home to not more than 520 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

Marketplace Ldha Lp contains a mix of 120 assisted two and three bedroom apartments for rent. There are 100 Two Bedroom and 20 Three Bedroom apartments in this property. The unit mix is 83% Two Bedroom and 17% Three Bedroom apartment rentals. The average bedroom size for Marketplace Ldha Lp is 2.17.

Michigan's 14th

Congressional District

120

Total Units

48

Tax Credit Units

Two and Three

Unit Mix

2.17

Average Bedroom Size

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