W 113 Street Housing 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 1999.
The property was placed in service in 2000.
29 of 29
units at W 113 Street Housing 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 and a Difficult Development Area qualifying it for additional tax credit financing.
W 113 Street Housing 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).
W 113 Street Housing is an apartment community containing 29 rental units.
This property serves all family types and seniors. The property contains 46 bedrooms and based on typical apartment occupancy limits, W 113 Street Housing
is home to not more than 86† 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.
W 113 Street Housing contains a mix of 29 assisted
one and two bedroom apartments for rent. There are 12 One Bedroom and 17 Two Bedroom apartments in this property. The unit mix is 41% One Bedroom and 59% Two Bedroom apartment rentals. The average bedroom size for W 113 Street Housing is 1.59.