Sky Parkway Terrace

5414 Sky Pkwy, Sacramento, California 95823

Sky Parkway Terrace Apartments is a 59-unit senior living development with all units subsidized through a HUD project-based age-restricted Section 8. The property is located at 5414 Sky Parkway, Sacramento, California 95823. The development was originally constructed in 1977 and offers one-bedroom units. All units are located within one three-story building. 

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom One Bath (1/1) - Call for Price

Sky Parkway Terrace Details

  • 59 one bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)
  • HOME Investment Partnerships Program

Office Hours

Day Hours
Monday 9:00am-5:00pm
Tuesday 9:00am-5:00pm
Wednesday 9:00am-5:00pm
Thursday 9:00am-5:00pm
Friday 9:00am-5:00pm

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Sacramento HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Sacramento but actual income limits may differ for units at Sky Parkway Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $21,300 $24,350 $27,400 $30,400 $32,850 $37,190 $41,910 $46,630
50% $35,500 $40,550 $45,600 $50,650 $54,750 $58,800 $62,850 $66,900
80% $56,750 $64,850 $72,950 $81,050 $87,550 $94,050 $100,550 $107,000

Sacramento Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Sacramento but actual income limits may differ for units at Sky Parkway Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $35,500 $40,550 $45,600 $50,650 $54,750 $58,800 $62,850 $66,900
Low Income (60%) $42,600 $48,660 $54,720 $60,780 $65,700 $70,560 $75,420 $80,280

Sky Parkway Terrace is managed by Preservation Partners Management Group, Inc..

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