5300 Case Avenue, Pleasanton, CA 94566
Waiting List Forecast: Likely Short or None
Verified for 2020 by Tracy Dorn| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $2,145 - 3,100 per Month† | 1 - 3 Beds | 1 - 2 Baths | 620 - 1,220 Sq Ft |
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.
Situated in the East Bay, and just a short distance to San Jose and San Francisco, The Promenade offers a mix of market rate and affordable apartment homes with many desirable features. With the convenience of great malls, theaters, parks, recreational activities, cultural arts, restaurants and employers nearby, and a short walk to historic downtown Pleasanton, The Promenade is an ideal community in an ideal location. This exquisite community offers charming landscaped grounds, a sparkling pool and spa, contemporary amenities and much more.
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 Promenade Apartments I & II 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 620ft2 | $2,145† |
| Two Bedroom (2/1.5) | 1032ft2 | $2,570† |
| Two Bedroom (2/2) | 1049ft2 | $2,625† |
| Two Bedroom (2/1) | 865ft2 | $2,495† |
| Three Bedroom (3/2) | 1220ft2 | $3,100† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $31,050 / year | $35,500 / year | $39,950 / year | $44,350 / year | $47,900 / year | $51,450 / year |
| 50% AMI for LIHTC Units | $51,800 / year | $59,200 / year | $66,600 / year | $73,950 / year | $79,900 / year | $85,800 / year |
| 50% AMI for PBRA Units | $51,800 / year | $59,200 / year | $66,600 / year | $73,950 / year | $79,900 / year | $85,800 / year |
| 60% AMI for LIHTC Units | $62,160 / year | $71,040 / year | $79,920 / year | $88,740 / year | $95,880 / year | $102,960 / year |
| 80% AMI for PBRA Units | $78,550 / year | $89,750 / year | $100,950 / year | $112,150 / year | $121,150 / year | $130,100 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Promenade Apartments I & II have a waiting list?
Promenade Apartments I & II 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 Promenade Apartments I & II?
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 Promenade Apartments I & II?
Promenade Apartments I & II is managed by FPI Management, Inc. headquartered in Folsom, California.
In addition to Promenade Apartments I & II, how many other affordable housing properties (and units) are there in Pleasanton?
In addition to Promenade Apartments I & II, we list 8 other affordable properties in Pleasanton. Learn about these properties here. Our data research shows that there are a total of 820 affordable units in Pleasanton.
3431 Cornerstone Ct, Pleasanton, California 94566
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