Martin Luther King Homes 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 2005.
The property was placed in service in 2004.
312 of 312
units at Martin Luther King Homes 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.
Martin Luther King Homes 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).
Martin Luther King Homes is an apartment community containing 312 rental units.
The property contains 626 bedrooms and based on typical apartment occupancy limits, Martin Luther King Homes
is home to not more than 1210† 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.
Martin Luther King Homes contains a mix of 312 assisted
studio, one, two, three, and four bedroom apartments for rent. There are 8 Studio, 100 One Bedroom, 118 Two Bedroom, 54 Three Bedroom, and 32 Four Bedroom apartments in this property. The unit mix is 3% Studio, 32% One Bedroom, 38% Two Bedroom, 17% Three Bedroom, and 10% Four Bedroom apartment rentals. The average bedroom size for Martin Luther King Homes is 2.01.