Stone Ridge Villas provides quality apartment homes for seniors, conveniently located in the heart of Madison, Alabama. This brand new property features 1 and 2 bedroom floor plans and includes a number of fantastic amenities!
For the enjoyment and convenience of all residents, central common areas will include a community room, fitness center, and a business center with computer stations.
This property is currently under construction.
|1 Bedroom (1/1)||925-928||Call for Price|
|2 Bedroom (2/1)||1118||Call for Price|
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.
Stoneridge Villas Apartment Homes is managed by Pennrose Management Company.