317 N 1st St, Wausau, WI 54403
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 703 - 1,215 Sq Ft |
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.
This historic government building was recently converted into 21 apartments. The building consists of one, two, and three bedroom loft style apartments with additional storage if needed. The building is located in the heart of downtown Wausau. Parking for the building is included in rent and is located in an adjacent parking ramp. This is the ideal property for any aspiring artist as it offers additional common space to display and/or create works. Come see these apartments that have modern conveniences but still offer character details that can only be found in historically rehabilitated buildings.
Because Federal Building Lofts participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 703ft2 | Call for Price† |
| 2 Bedroom (2/2) | 1009ft2 | Call for Price† |
| 3 Bedroom (3/2) | 1215ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $32,450 / year | $37,100 / year | $41,750 / year | $46,350 / year | $50,100 / year | $53,800 / year |
| 50% AMI for PBRA Units | $32,450 / year | $37,100 / year | $41,750 / year | $46,350 / year | $50,100 / year | $53,800 / year |
| 60% AMI for LIHTC Units | $38,940 / year | $44,520 / year | $50,100 / year | $55,620 / year | $60,120 / year | $64,560 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Federal Building Lofts have a waiting list?
Federal Building Lofts 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 Federal Building Lofts?
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 Federal Building Lofts?
Federal Building Lofts is managed by Paramark Real Estate Services headquartered in Rochester, Minnesota .
In addition to Federal Building Lofts, how many other affordable housing properties (and units) are there in Wausau?
In addition to Federal Building Lofts, we list 18 other affordable properties in Wausau. Learn about these properties here. Our data research shows that there are a total of 854 affordable units in Wausau.
When was the Federal Building Lofts listing last updated?
Federal Building Lofts listing on Affordable Housing Online was last updated on 01/02/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
1240 Merrill Avenue, Wausau, Wisconsin 54401
920 W Campus Drive, Wausau, Wisconsin 54401
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