Golden Gates 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 1988.
22 of 83
units at Golden Gates are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.
Golden Gates is an affordable apartment community located in New York City, New York
which is located in New York County.
The property is located in New York's 13th Congressional
District served by Representative Adriano Espaillat (D),
Senator Charles Schumer (D) and Senator Kirsten Gillibrand (D).
Golden Gates is an apartment community containing 22 rental units.
This property serves all family types. The property contains 24 bedrooms and based on typical apartment occupancy limits, Golden Gates
is home to not more than 46† 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.
Golden Gates contains a mix of 22 assisted
studio, one, and two bedroom apartments for rent. There are 4 Studio, 12 One Bedroom, and 6 Two Bedroom apartments in this property. The unit mix is 18% Studio, 55% One Bedroom, and 27% Two Bedroom apartment rentals. The average bedroom size for Golden Gates is 0.29.