505 W. 15th Ave., Cordele, GA 31015
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 Bath | - |
This property is currently under construction.
Gillespie Gardens is located on approximately five acres in the Gillespie-Selden Urban Redevelopment Area. It involves the adaptive reuse of four historic buildings, along with the construction of a three-story building that complements the existing structures. With 53 housing units, Gillespie Gardens will offer a mix of efficiency and 1-, 2-, or 3-bedroom units, catering to individuals and families with incomes below 60% of the area median income.
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 Gillespie Gardens 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 |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price† |
| Two Bedroom (2/1) | - | Call for Price† |
| Three Bedroom (3/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $22,750 / year | $26,000 / year | $29,250 / year | $32,500 / year | $35,100 / year | $37,700 / year |
| 50% AMI for PBRA Units | $22,750 / year | $26,000 / year | $29,250 / year | $32,500 / year | $35,100 / year | $37,700 / year |
| 60% AMI for LIHTC Units | $27,300 / year | $31,200 / year | $35,100 / year | $39,000 / year | $42,120 / year | $45,240 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Gillespie Gardens have a waiting list?
Gillespie Gardens 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 Gillespie Gardens?
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 Gillespie Gardens?
Gillespie Gardens is managed by Olympia Management INC headquartered in Albertville, AL.
In addition to Gillespie Gardens, how many other affordable housing properties (and units) are there in Cordele?
In addition to Gillespie Gardens, we list 18 other affordable properties in Cordele. Learn about these properties here. Our data research shows that there are a total of 1056 affordable units in Cordele.
When was the Gillespie Gardens listing last updated?
Gillespie Gardens listing on Affordable Housing Online was last updated on 03/06/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
211 W 24th Ave, Cordele, Georgia 31015
2101 Pateville Rd, Cordele, Georgia 31015
Affordable housing is for both families and individuals.
There is no requirement to have family members or children to live in affordable housing. Single persons are eligible for housing.Margaret L. Bost says:
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