Stone Pine Meadow

229 W Grant Line Road, Tracy, California 95376

Stone Pine Meadow, located at 229 W Grant Line Road in Tracy, has one, two, three and four bedroom apartments. Stone Pine Meadow participates in the Low-Income Housing Tax Credit (LIHTC) and Section 8 Project-Based Rental Assistance programs.

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One Bedroom is Closed

Last updated on October 30th, 2017
Two Bedroom is Closed

Last updated on October 30th, 2017
Three Bedroom is Closed

Last updated on October 30th, 2017
Four Bedroom is Closed

Last updated on October 30th, 2017

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 600 From $557 To $682
Two Bedroom (2/1) 824 From $767 To $817
Three Bedroom (3/2) 1132 From $767 To $940
Four Bedroom (4/2) 1386 From $851 To $1,044

Stone Pine Meadow Details

  • 72 one, two, three and four bedroom units.
  • Project-Based Rental Assistance

Office Hours

Day Hours
Monday 9:00am-12:00pm , 1:00pm-5:30pm
Tuesday 9:00am-12:00pm , 1:00pm-5:30pm
Wednesday 9:00am-12:00pm , 1:00pm-5:30pm
Thursday 9:00am-12:00pm , 1:00pm-5:30pm
Friday 9:00am-12:00pm , 1:00pm-5:30pm

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.

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. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Tracy 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 Tracy but actual income limits may differ for units at Stone Pine Meadow.

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

Stone Pine Meadow 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.

Stone Pine Meadow is managed by Eden Housing.

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