854 WESTBROOK ST, Griffin, GA 30224
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $600 - 725 per Month† | 1 - 2 Beds | 1 Bath | - |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Terraces at the Park is a 68-unit affordable community for adults 55 and older, featuring one- and two-bedroom apartments catering to active adults looking for a community that offers both quality and affordability.
Section 811
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 TERRACES AT THE PARK 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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) | - | $600† |
| 2 Bedroom (2/1) | - | $725† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 30% AMI for PBRA Units | $21,500 / year | $24,550 / year | $27,600 / year | $30,650 / year |
| 50% AMI for LIHTC Units | $35,750 / year | $40,850 / year | $45,950 / year | $51,050 / year |
| 50% AMI for PBRA Units | $35,750 / year | $40,850 / year | $45,950 / year | $51,050 / year |
| 60% AMI for LIHTC Units | $42,900 / year | $49,020 / year | $55,140 / year | $61,260 / year |
| 80% AMI for PBRA Units | $57,200 / year | $65,350 / year | $73,500 / year | $81,650 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does TERRACES AT THE PARK have a waiting list?
TERRACES AT THE PARK 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 TERRACES AT THE PARK?
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 TERRACES AT THE PARK?
TERRACES AT THE PARK is managed by Pennrose Management Company headquartered in Philadelphia , Pennsylvania.
In addition to TERRACES AT THE PARK, how many other affordable housing properties (and units) are there in Griffin?
In addition to TERRACES AT THE PARK, we list 15 other affordable properties in Griffin. Learn about these properties here. Our data research shows that there are a total of 1085 affordable units in Griffin.
When was the TERRACES AT THE PARK listing last updated?
TERRACES AT THE PARK listing on Affordable Housing Online was last updated on 01/01/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
Do you have little or no income?
Be aware that some housing assistance programs have a minimum income requirement, such as Low-Income Housing Tax Credit aparments.Josie Shivers says:
"Affordable Housing Online is a very helpful website. I was able to put it in a Section 8 application, and received a letter that I was chosen to be on a waiting list!"