Caribe Towers
3231 N 2nd St # 65
Philadelphia, Philadelphia County, Pennsylvania 19140

Request an Application

Funding Programs

Caribe Towers was developed and operates with Federal housing financing. The property utilizes the Section 202 Federal housing program to make rent affordable to lower income tenants.

Section 202

The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors who are 62 or older. The program provided both capital financing to construct the property and operating subsidies that work as rental assistance like the Section 8 program. Caribe Towers is among only 272 Section 202 properties in Pennsylvania and 6,166 in the country.

Overview

Caribe Towers is an affordable apartment community located in Philadelphia, Pennsylvania which is located in Philadelphia County. The property is located in Pennsylvania's 2nd Congressional District served by Representative Dwight Evans (D), Senator Patrick Toomey (R) and Senator Robert Casey (D).

Rent Subsidies

Caribe Towers provides rental subsidies to renters. The type of subsidy provided to apartment renters in Philadelphia, PA by this property is Section 202 Rental Assistance.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions in Congress to implement a minimum rent in the Section 202 Program to reduce cost burden on the Federal budget.

Pennsylvania's 2nd

Congressional District

57

Section 202 Units

57

Senior Units

78.1

% of Fair Market Rent

30-Apr-17

Project Based Sec. 8 Contract Expiration

Find More in Philadelphia

Search Nearby Affordable Housing

Find More in Philadelphia County

Search Nearby Affordable Housing

Find More in Pennsylvania

Search Nearby Affordable Housing

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