967 Sharmon Palms Ln, Campbell, CA 95008
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 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.
Sharmon Palms Lane is a newly renovated affordable housing community for families in Campbell. Originally acquired by MidPen in 1989 as two properties known as The Palms and Sharmon Palms, Sharmon Palms Lane recently became one to more efficiently refinance and renovate them together. Renovation enhancements included: new interior flooring, cabinetry, and bathroom fixtures; new exterior siding; double-pane windows; and energy-efficient features. Located in an award-winning school district, Sharmon Palms Lane helps revitalize and improve the surrounding neighborhood. In 1993, Sharmon Palms received a Maxwell Award of Excellence Honorable Mention from the Fannie Mae Foundation.
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 Sharmon Palms Lane 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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 |
|---|---|---|
| 1 Bedroom (1/1) | - | Rent is Based On Your Income† |
| 2 Bedroom (2/1) | - | Rent is Based On Your Income† |
| 3 Bedroom (3/1) | - | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $62,450 / year | $71,400 / year | $80,300 / year | $89,200 / year | $96,350 / year | $103,500 / year |
| 50% AMI for PBRA Units | $62,450 / year | $71,400 / year | $80,300 / year | $89,200 / year | $96,350 / year | $103,500 / year |
| 60% AMI for LIHTC Units | $74,940 / year | $85,680 / year | $96,360 / year | $107,040 / year | $115,620 / year | $124,200 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Sharmon Palms Lane have a waiting list?
Sharmon Palms Lane 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 Sharmon Palms Lane?
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 Sharmon Palms Lane?
Sharmon Palms Lane is managed by MidPen Housing headquartered in Foster City, CA.
In addition to Sharmon Palms Lane, how many other affordable housing properties (and units) are there in Campbell?
In addition to Sharmon Palms Lane, we list 5 other affordable properties in Campbell. Learn about these properties here. Our data research shows that there are a total of 674 affordable units in Campbell.
When was the Sharmon Palms Lane listing last updated?
Sharmon Palms Lane 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.
Stay in contact with the housing agency after applying.
While on a waiting list, always keep your information up to date. If you get selected for housing, the agency needs to know how to reach you!Dessiré Rodriguez says:
"Affordable Housing Online is by far, the most up-to-date, comprehensive, and expansive Section 8 information database."