424 Lake Ave., Racine, WI 53403
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $989 - 1,178 per Month† | 1 - 2 Beds | 1 Bath | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Overlooking Lake Michigan and Festival Park, Arcade Apartments is the perfect mix of elegant vintage revival architecture and modern day finishes. Select your perfect home from 55 expertly laid out floor plans and you are sure to get everything on your wish list. With hardwood floors and loft bedrooms, you get a beautiful home with a stunning view that is within walking distance of almost anything you could want. Countless restaurants, the Racine Art Museum, Racine Memorial Hall, the Racine Public Library, and much more are all within blocks of your new beautiful home. Relax on the rooftop gazebo and enjoy the sweeping city views. Your lakeside city escape is waiting for you at Arcade.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Arcade Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 539-1200ft2 | $989† |
| Two Bedroom (2/1) | 885-1370ft2 | $1,178† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $32,000 / year | $36,600 / year | $41,150 / year | $45,700 / year |
| 50% AMI for PBRA Units | $32,000 / year | $36,600 / year | $41,150 / year | $45,700 / year |
| 60% AMI for LIHTC Units | $38,400 / year | $43,920 / year | $49,380 / year | $54,840 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Arcade Apartments have a waiting list?
Arcade Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Arcade Apartments?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Arcade Apartments?
Arcade Apartments is managed by The Michaels Organization headquartered in Camden, NJ.
In addition to Arcade Apartments, how many other affordable housing properties (and units) are there in Racine?
In addition to Arcade Apartments, we list 43 other affordable properties in Racine. Learn about these properties here. Our data research shows that there are a total of 2386 affordable units in Racine.
When was the Arcade Apartments listing last updated?
Arcade Apartments listing on Affordable Housing Online was last updated on 01/15/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Looking for housing as soon as possible?
Applying for waiting lists with no preferences may help shorten the wait for available housing.Lela Mima says:
"I love that this website lets you know where Section 8 will be open, and you have choices to pick where to apply. Thank you Affordable Housing Online!"