Art Ark Apartments are located in San Jose's version of SoHo - an old industrial neighborhood where artists are living/working in old warehouses, and families have rehabilitated older Victorian homes. The Art Ark is made up of 148 affordable rental artist units (134 SRO Units and 14 single family units) in two distinct neighborhoods: the Factory and the Cottages. A performance plaza joins these two districts. Over 30% of the residents consider themselves to be artists.
|Studio (Studio/1)||-||Income Based|
|1 Bedroom (1/1)||-||Income Based|
|2 Bedroom (2/1)||-||Income Based|
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.
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 San Jose but actual income limits may differ for units at Art Ark Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$59,000||$67,400||$75,850||$84,250||$91,000||$97,750||$104,500||$111,250|
|Low Income (60%)||$70,800||$80,880||$91,020||$101,100||$109,200||$117,300||$125,400||$133,500|
Art Ark Apartments is managed by EAH.