The Cove of Southlake complex just opened in 2012 and is a family-friendly complex located at 509 Hickory Lane. It offers spacious 3 and 4 bedroom units, several offer accessible features. Our extra amenities include: beautiful bay windows, front porches, programmable thermostats, sprinkler system, vertical blinds. Our complex also offers a playroom in addition to the amenities listed below.
|Three Bedroom (3/2.5)||700||$475|
|Four Bedroom (4/2.5)||900||$537|
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.
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 Albany but actual income limits may differ for units at Cove of Southlake.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$21,850||$24,950||$28,050||$31,150||$33,650||$36,150||$38,650||$41,150|
|Low Income (60%)||$26,220||$29,940||$33,660||$37,380||$40,380||$43,380||$46,380||$49,380|
Cove of Southlake is managed by The Vantage Group.