Chatham Court Apartments
4815 Locust St
Philadelphia, Philadelphia County, Pennsylvania 19139

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Funding Programs

Chatham Court Apartments 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 Community Development Block Grant.

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 1998 for $558,554 with a 10 year value of $5,585,540. The property was placed in service in 2000. 44 of 44 units at Chatham Court Apartments 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 qualifying it for additional tax credit financing.

Community Development Block Grant

The property was financed with partial financing through the Federal Community Development Block Grant Program (CDBG) which provides general funding to local governments to help create affordable housing and economic development opportunities. Chatham Court Apartments received $0 ($0 per unit) of financing through the CDBG Program.

Overview

Chatham Court Apartments 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).

Chatham Court Apartments is an apartment community containing 44 rental units. This property serves all family types. The property contains 116 bedrooms and based on typical apartment occupancy limits, Chatham Court Apartments is home to not more than 232 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

Chatham Court Apartments contains a mix of 44 assisted two, three, and four bedroom apartments for rent. There are 19 Two Bedroom, 22 Three Bedroom, and 3 Four Bedroom apartments in this property. The unit mix is 43% Two Bedroom, 50% Three Bedroom, and 7% Four Bedroom apartment rentals. The average bedroom size for Chatham Court Apartments is 2.64.

Pennsylvania's 2nd

Congressional District

44

Total Units

44

Tax Credit Units

44

CDBG Units

Two, Three, and Four

Unit Mix

2.64

Average Bedroom Size

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