West 149th St 2nd Cluster 2554 7th Ave
2554 Adam Clayton Powell Jr Boulevard
New York City, New York County, New York 10039

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Funding Programs

West 149th St 2nd Cluster 2554 7th Ave was developed and operates with Federal housing financing. The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit and HOME.

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 2003 for $96,613 with a 10 year value of $966,130. The property was placed in service in 2004. 10 of 13 units at West 149th St 2nd Cluster 2554 7th Ave 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.

HOME Investment Partnership

The property was financed in part with financing through the Federal HOME Investment Partnership Program. 10 of the 13 total units at West 149th St 2nd Cluster 2554 7th Ave are assisted under the HOME program.

Overview

West 149th St 2nd Cluster 2554 7th Ave 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).

West 149th St 2nd Cluster 2554 7th Ave is an apartment community containing 13 rental units. The property contains 31 bedrooms and based on typical apartment occupancy limits, West 149th St 2nd Cluster 2554 7th Ave is home to not more than 62 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

West 149th St 2nd Cluster 2554 7th Ave contains a mix of 13 assisted two and three bedroom apartments for rent. There are 8 Two Bedroom and 5 Three Bedroom apartments in this property. The unit mix is 62% Two Bedroom and 38% Three Bedroom apartment rentals. The average bedroom size for West 149th St 2nd Cluster 2554 7th Ave is 2.38.

New York's 13th

Congressional District

13

Total Units

10

Tax Credit Units

10

HOME Units

Two and Three

Unit Mix

2.38

Average Bedroom Size

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