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Villas at Southgate

1810 S Corona Ave, Colorado Springs, Colorado 80905

The Villas in Southgate are twin buildings located at 1810 S. Corona and 405 E. Saint Elmo. The 3-story, 50-unit buildings (100 total units) are in a quiet residential neighborhood within a short distance of grocery stores, drugstores, restaurants, stores, and major bus routes. The grounds are ablaze with flowers, and the site offers outstanding views of the Rocky Mountains.

Contact Villas at Southgate

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Waiting List is Open Now

Currently accepting waiting list applications. Estimated wait time is two (2) and a half years.

Last updated on November 9th, 2018

Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Income Based

Villas at Southgate Details

  • 100 0 bedroom units.
  • Water and Sewer utilities included in rent
  • Electricity utility included in rent
  • Heat utility included in rent
  • Section 202 Supportive Housing for the Elderly
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Community Room
  • Community Garden

Unit Amenities

  • Utilities Included
  • Scenic View

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

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.

Colorado Springs HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Colorado Springs but actual income limits may differ for units at Villas at Southgate.

AMI Band 1 Person 2 Person
30% $17,150 $19,600
50% $28,600 $32,650

Colorado Springs 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 Colorado Springs but actual income limits may differ for units at Villas at Southgate.

AMI Band 1 Person 2 Person
Very Low Income (50%) $28,600 $32,650

Villas at Southgate is managed by Archdiocesan Housing Inc. .

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