Knox Place 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 2000.
The property was placed in service in 2001.
51 of 51
units at Knox Place are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was located in
a Difficult Development Area qualifying it for additional tax credit financing.
Knox Place 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).
Knox Place is an apartment community containing 51 rental units.
This property serves all family types. The property contains 102 bedrooms and based on typical apartment occupancy limits, Knox Place
is home to not more than 195† 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.
Knox Place contains a mix of 51 assisted
one, two, and three bedroom apartments for rent. There are 17 One Bedroom, 17 Two Bedroom, and 17 Three Bedroom apartments in this property. The unit mix is 33% One Bedroom, 33% Two Bedroom, and 33% Three Bedroom apartment rentals. The average bedroom size for Knox Place is 2.