Mt Vernon Apartments
677 W. Alexandrine
Detroit, Wayne County, Michigan 48201

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Funding Programs

Mt Vernon Apartments 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 1993. The property was placed in service in 1995. 45 of 46 units at Mt Vernon Apartments 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

Mt Vernon Apartments 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).

Mt Vernon Apartments is an apartment community containing 46 rental units. The property contains 52 bedrooms and based on typical apartment occupancy limits, Mt Vernon Apartments is home to not more than 94 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

Mt Vernon Apartments contains a mix of 46 assisted studio, one, and two bedroom apartments for rent. There are 5 Studio, 30 One Bedroom, and 11 Two Bedroom apartments in this property. The unit mix is 11% Studio, 65% One Bedroom, and 24% Two Bedroom apartment rentals. The average bedroom size for Mt Vernon Apartments is 1.13.

Michigan's 14th

Congressional District

46

Total Units

45

Tax Credit Units

Studio, One, and Two

Unit Mix

1.13

Average Bedroom Size

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