20 Drakes Way, Larkspur, CA 94939
Waiting List Forecast: Likely Short or None
Verified for 2020 by Ric Gresia, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
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.
Drake’s Way in the town of Larkspur, features magnificent views of the San Francisco Bay and Mount Tamalpais. Next to two parks, bike paths, and a hiking and wildlife area, this community of one- and two-story buildings is also conveniently located close to public transportation. It is across the street from a shopping area that includes restaurants and a movie theater. There is a dedicated community building with a computer learning center, a children’s playground, and a gathering place for community events. A co-operative childcare center is adjacent to the site.
Because Drakes Way 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
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $65,050 / year | $74,350 / year | $83,650 / year | $92,900 / year | $100,350 / year | $107,800 / year | $115,200 / year | $122,650 / year |
| 50% AMI for PBRA Units | $65,050 / year | $74,350 / year | $83,650 / year | $92,900 / year | $100,350 / year | $107,800 / year | $115,200 / year | $122,650 / year |
| 60% AMI for LIHTC Units | $78,060 / year | $89,220 / year | $100,380 / year | $111,480 / year | $120,420 / year | $129,360 / year | $138,240 / year | $147,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Drakes Way have a waiting list?
Drakes Way 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 Drakes Way?
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 Drakes Way?
Drakes Way is managed by EAH
In addition to Drakes Way, how many other affordable housing properties (and units) are there in Larkspur?
In addition to Drakes Way, we list 5 other affordable properties in Larkspur. Learn about these properties here. Our data research shows that there are a total of 52 affordable units in Larkspur.
26 Edgewater Pl , Larkspur, California 94939
13 Rice Ln, Larkspur, California 94939
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