TERRACES AT THE PARK

854 WESTBROOK ST, Griffin, GA 30224

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Joshua Cappell

Rent	Beds	Baths	SqFt
$600 - 725 per Month^†	1 - 2 Beds	1 Bath	-

Call (678) 679-8402 Email

Waitlist Forecast

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

Dave's Thoughts On TERRACES AT THE PARK

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

TERRACES AT THE PARK Amenities

BBQ and Picnic Area
On-Site Manager
Central Air
Breakfast Bar
Spacious floor plans
Resident lounges
Fully Equipped Kitchen
Laundry Facilities
Personal 24-hour emergency call system
Beautiful Landscape
Carpeted Bedroom
Wheel Chair Accessible

Units at TERRACES AT THE PARK

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	$600^†
2 Bedroom (2/1)	-	$725^†

Income Qualification for TERRACES AT THE PARK

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

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.

FAQs for TERRACES AT THE PARK

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 57 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 Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.