Alora is a new affordable housing community offering apartment homes for low-income families in the City of San Marcos. Alora is a unique development because it replaces a portion of a former apartment, Mariposa Apartments, and more than doubles the existing unit count. Alora replaced 40 existing, outdated apartment homes with 100 new apartment homes. Alora consists of four residential buildings with 1-, 2- and 3-bedroom apartment homes and one community building.
Amenities for Alora residents include a community building that houses a pool, barbeque area and bike parking, several tot lots located throughout the community, and laundry rooms in each building.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
One Bedroom (1/1) | - | Call for Price |
Two Bedroom (2/1) | - | Call for Price |
Three Bedroom (3/1) | - | Call for Price |
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 Marcos but actual income limits may differ for units at Alora.
AMI Band | 2 Person | 3 Person | 4 Person | 5 Person |
---|---|---|---|---|
Very Low Income (50%) | $55,150 | $62,050 | $68,900 | $74,450 |
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.