East Parker Street, Lakeland, FL 33801
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | - |
This project has been funded and will begin construction soon.
Financial closing and construction commencement are expected to occur in Q2 of 2019.
Midtown Lofts is located in Polk County, FL. Midtown will be a new construction affordable development and will provide 80 fully amenitized residences serving families of the Lakeland community. Midtown Lofts was recommended for funding by Florida Housing Finance Corporation to receive a competitive 9% tax credit allocation in the Summer of 2018.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Midtown Lofts does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | - | Call for Price† |
| 2 Bedroom (2/2) | - | Call for Price† |
| 3 Bedroom (3/2) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $25,000 / year | $28,600 / year | $32,150 / year | $35,700 / year | $38,600 / year | $41,450 / year |
| 50% AMI for PBRA Units | $25,000 / year | $28,600 / year | $32,150 / year | $35,700 / year | $38,600 / year | $41,450 / year |
| 60% AMI for LIHTC Units | $30,000 / year | $34,320 / year | $38,580 / year | $42,840 / year | $46,320 / year | $49,740 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Midtown Lofts have a waiting list?
Midtown Lofts probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Midtown Lofts?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Midtown Lofts?
Midtown Lofts is managed by Royal American Management headquartered in Panama City, Florida.
In addition to Midtown Lofts, how many other affordable housing properties (and units) are there in Lakeland?
In addition to Midtown Lofts, we list 79 other affordable properties in Lakeland. Learn about these properties here. Our data research shows that there are a total of 2572 affordable units in Lakeland.
When was the Midtown Lofts listing last updated?
Midtown Lofts listing on Affordable Housing Online was last updated on 02/07/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
7425 Highway 98 N, Lakeland, Florida 33809
Housing options for renters with a criminal record.
A criminal history does not automatically disqualify a renter from federal housing assistance. But more serious offenses may make you inelligible if they were recent.Ivette Betancourt says:
"Affordable Housing Online is a helpful website that can benefit many families looking for a decent affordable home."