Cherry Tree Apartments

206 Zeagler Drive, Palatka, Florida 32177

Cherry Tree Apartments is a beautiful and peaceful SENIOR community. We welcome applicants 62 years of age or older as well as those who are disabled. We are conveniently located near the downtown area, library and hospital. Our 1 & 2 bedroom apartments have patios, central air and more! Call for more information!

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 675 $530
Two Bedroom (2/1) 816 $770

Cherry Tree Apartments Details

  • 33 0 and 0 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 521 USDA Rental Assistance

Property Amenities

  • Clubhouse
  • On-Site Manager
  • On-Site Parking
  • High Speed Internet Access
  • Laundry Facility

Unit Amenities

  • Garbage Disposal
  • Cable Ready
  • Oven and Range
  • Central Heat & Air
  • Private Patios
  • vinyl tile flooring
  • Frost-Free Refrigerator
  • Large Closets

Nearby Amenities

  • Close to Dining
  • Close to Public Transportation
  • Close to Shopping
  • Near Hospital
  • Near Bank

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 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Palatka 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 Palatka but actual income limits may differ for units at Cherry Tree Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,880 $17,420 $21,960 $26,500 $29,950 $32,150 $34,350 $36,600
50% $19,400 $22,200 $24,950 $27,700 $29,950 $32,150 $34,350 $36,600
80% $31,050 $35,450 $39,900 $44,300 $47,850 $51,400 $54,950 $58,500

Palatka 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 Palatka but actual income limits may differ for units at Cherry Tree Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $19,400 $22,200 $24,950 $27,700 $29,950 $32,150 $34,350 $36,600
Low Income (60%) $23,280 $26,640 $29,940 $33,240 $35,940 $38,580 $41,220 $43,920

Cherry Tree Apartments is managed by Flynn Management Corporation.

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