Esperanza Apartments is an 84-unit, affordable, older adult community located in a serene area of Seattle away from traffic and congestion, yet convenient to shopping, churches, and medical facilities. Residents must be 55 years of age or older. Some apartments are specially equipped for mobility impaired persons. This community serves residents who earn less than 60 percent of the area median gross income. Income limits are determined by the U.S. Department of Housing and Urban Development (HUD). Beautiful, affordable, one bedroom and one bath apartments with utilities (except phone and cable) are included in the rent. Section 8 Vouchers Welcomed. For more info, please call the office. This community has income limitations as determined by the US Department of Housing and Urban Development. Section 8 Vouchers welcomed.
Bathroom Grab Bars
Fully Equipped Kitchen
Controlled Heat and Electricity
individually-locked mail box
Managed By Retirement Housing Foundation
Esperanza Apartments 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 2000 for $349,392 with a 10 year value of $3,493,920.
The property was placed in service in 2001.
83 of 84
units at Esperanza 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.
Esperanza Apartments is an affordable apartment community located in Seattle, Washington
which is located in King County.
The property is located in Washington's 7th Congressional
District served by Representative Pramila Jayapal (D),
Senator Patty Murray (D) and Senator Maria Cantwell (D).
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.