24115 Cottonwood Ave, Moreno Valley, CA 92553
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 2 - 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.
The County committed HOME funds for the development and construction of a 61-unit rental housing complex, all of which are 3 bedroom units, for families in the City of Moreno Valley. The project included a 1,800 square foot community building with a community meeting room, kitchen, restrooms, laundry facilities, a swimming pool, and a tot lot. Other funding included a loan from the City of Moreno Valley Redevelopment Agency, a deferred developer’s fee and a tax credit equity contribution. Construction began in October 2003 and completed in August 2005. The total development cost was $9,867,869. The affordability period is for 55 years.
Because Cottonwood Place Apartments 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 |
|---|---|---|
| Two Bedroom (2/1) | - | Call for Price† |
| Three Bedroom (3/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $32,650 / year | $37,300 / year | $41,950 / year | $46,600 / year | $50,350 / year | $54,100 / year |
| 50% AMI for PBRA Units | $32,650 / year | $37,300 / year | $41,950 / year | $46,600 / year | $50,350 / year | $54,100 / year |
| 60% AMI for LIHTC Units | $39,180 / year | $44,760 / year | $50,340 / year | $55,920 / year | $60,420 / year | $64,920 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Cottonwood Place Apartments have a waiting list?
Cottonwood Place Apartments 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 Cottonwood Place Apartments?
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 Cottonwood Place Apartments?
Cottonwood Place Apartments is managed by ConAm Management Corporation headquartered in San Diego, California.
In addition to Cottonwood Place Apartments, how many other affordable housing properties (and units) are there in Moreno Valley?
In addition to Cottonwood Place Apartments, we list 11 other affordable properties in Moreno Valley. Learn about these properties here. Our data research shows that there are a total of 994 affordable units in Moreno Valley.
When was the Cottonwood Place Apartments listing last updated?
Cottonwood Place Apartments listing on Affordable Housing Online was last updated on 03/31/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
Housing options for seniors.
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