Granite Ridge Apartments, located at 246 East Iris Avenue in Stockton, has one and two bedroom apartments. Granite Ridge Apartments participates in the Low-Income Housing Tax Credit (LIHTC) program.
|1 BR Solana (1/1)||629||$625|
|2 BR Redondo (2/1)||828||$725|
Your first visit to Granite Ridge will uncover a gem in the heart of Stockton. Our careful attention and great location make us the best choice for your next home. You home will be professionally prepared by our on-site staff, and you will find both comfort and convenience when you call Granite Ridge home. Our ideal location is just off of Hammer Lane with close access to both Hwy 5 and 99. Our professional teams attention to detail and care show in every aspect of our community. Comfortable, convenient and affordable living is at its best here at Granite Ridge. All of our spacious 1 & 2 bedroom apartment homes feature ceiling fans, garbage disposals, dishwashers & air conditioning to make your home a personalized retreat. Our grounds are clean and manicured and close to public transportation. You will enjoy living at Granite Ridge because we have it all at the price you want. Living at Granite Ridge is the answer to all of your housing needs.
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 Stockton but actual income limits may differ for units at Granite Ridge Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$24,500||$28,000||$31,500||$35,000||$37,800||$40,600||$43,400||$46,200|
|Low Income (60%)||$29,400||$33,600||$37,800||$42,000||$45,360||$48,720||$52,080||$55,440|
Granite Ridge Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Granite Ridge Apartments is managed by Cambridge Management, Inc..