Zag Development L.p./zag Inc.
7165 Ogontz Ave
Philadelphia, Philadelphia County, Pennsylvania 19138

Call (855) 598-3283, enter extension 34127, then hit #.

Request an Application

Funding Programs

Zag Development L.p./zag, Inc. 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 1994 for $111,940 with a 10 year value of $1,119,400. The property was placed in service in 1995. 15 of 15 units at Zag Development L.p./zag, Inc. are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.

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. Zag Development L.p./zag, Inc. received $0 ($0 per unit) of financing through the CDBG Program.

Overview

Zag Development L.p./zag, Inc. 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).

Zag Development L.p./zag, Inc. is an apartment community containing 15 rental units. This property serves all family types. The property contains 27 bedrooms and based on typical apartment occupancy limits, Zag Development L.p./zag, Inc. is home to not more than 52 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

Zag Development L.p./zag, Inc. contains a mix of 15 assisted one and two bedroom apartments for rent. There are 3 One Bedroom and 12 Two Bedroom apartments in this property. The unit mix is 20% One Bedroom and 80% Two Bedroom apartment rentals. The average bedroom size for Zag Development L.p./zag, Inc. is 1.8.

Pennsylvania's 2nd

Congressional District

15

Total Units

15

Tax Credit Units

15

CDBG Units

One and Two

Unit Mix

1.8

Average Bedroom Size

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