The Villages at Iron Branch is an affordable community that offers brand new two- & three-bedroom apartments homes. The upscale features include, granite like countertops, espresso cabinetry, vinyl wood plank flooring, energy efficient appliances and in-home washer and dryers. The community also offers a community room with business center and ample parking. Conveniently located in Millsboro, Delaware off Highway 113 and near several dining and shopping options. Please contact the Leasing Center for more information on the affordable programs.
|One Bedroom (1/1)||564||Call for Price|
|Two Bedroom (2/1)||632||Call for Price|
|Three Bedroom (3/2)||875||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 Millsboro but actual income limits may differ for units at The Villages at Iron Branch.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person|
|Low Income (60%)||$37,380||$42,720||$48,060||$53,340||$57,660||$61,920|
The Villages at Iron Branch is managed by TM Associates Management, Inc.
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.
This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.
Some of the units at this property have received funding through HUD's Section 811 Project Rental Assistance (PRA) Program. For these PRA funded units, tenants must be extremely low-income (at or below 30% of Area Median Income) and at least one adult member of the household must have a disability. The person with the disability must be eligible for community-based, long-term services as provided under the state’s plan for medical assistance under Title XIX of the Social Security Act (Medicaid), state funded services or other appropriate services defined in the written partnership agreement.