1440 Pine is an affordable apartment building utilizing a Housing First model for young adults, ages 18-24, as a foundation to provide stable housing and supportive services. 1440 Pine is designed for transition-age young adults who have a history of homelessness and will benefit from the comprehensive support services being offered. Tenants at 1440 Pine meet weekly with their Transition Specialist, participate in financial literacy training (including budgeting, household management education, and skills for self-sufficiency), abide by all lease agreements, contribute 30% of their monthly income towards rent, and participate in searching for long-term permanent housing options after the program. On-site services include case planning, financial assistance as needed, life-skills development, mental health support, employment and education support, and other services as needed.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
Studio (Studio/1) | 487 | Call for Price |
2 Bedroom (2/1) | 1009 | 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 Boulder but actual income limits may differ for units at 1440 Pine.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Low Income (60%) | $55,800 | $63,780 | $71,760 | $79,680 | $86,100 | $92,460 | $98,820 | $105,180 |
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.