1942 Martin Luther King St, Selma, AL 36703
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 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.
At Magnolia Senior Village in Selma, Alabama, we perfectly combine affordability, location and neighborhood atmosphere. Magnolia Senior Village is an income restricted property for seniors age 55 and older. This community is centered in an established residential neighborhood, offering spacious and unique 1- and 2-bedroom floor plans for seniors age 55 and older. Each apartment is equipped with central heat and air, washer/dryer connections, range, dishwasher, disposal and refrigerator with icemaker. The complex is equipped with a convenient elevator for residents. Residents enjoy the on-site community room and laundry facilities, as well as shuffleboard, picnic areas and the added benefit of an extremely attentive management and maintenance team. Garbage pickup is included.
Because Magnolia Senior Village 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 |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price† |
| Two Bedroom (2/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $22,850 / year | $26,100 / year | $29,350 / year | $32,600 / year |
| 50% AMI for PBRA Units | $22,850 / year | $26,100 / year | $29,350 / year | $32,600 / year |
| 60% AMI for LIHTC Units | $27,420 / year | $31,320 / year | $35,220 / year | $39,120 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Magnolia Senior Village have a waiting list?
Magnolia Senior Village 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 Magnolia Senior Village?
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 Magnolia Senior Village?
Magnolia Senior Village is managed by Olympia Management INC headquartered in Albertville, AL.
In addition to Magnolia Senior Village, how many other affordable housing properties (and units) are there in Selma?
In addition to Magnolia Senior Village, we list 18 other affordable properties in Selma. Learn about these properties here. Our data research shows that there are a total of 1135 affordable units in Selma.
When was the Magnolia Senior Village listing last updated?
Magnolia Senior Village listing on Affordable Housing Online was last updated on 03/05/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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