1561 Stone Bridge Pkwy, Woodstock, GA 30189
Waiting List Forecast: Likely Short or None
Verified for 2024 by Alissa Ellison, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 - 2 Baths | 752 - 1,015 Sq Ft |
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.
HearthSide Towne Lake was conceived in 2009 during the height of the national recession and period of economic uncertainty. When representatives of OneStreet first visited the site, they saw a vacant and abandoned partially developed townhome subdivision. OneStreet reprogrammed the site for senior housing, which removed a vacant eyesore from the community, alleviated the financial burden on a local lending institution, created tax dollars for the local government, and ensured a successful completion of the overall mixed-use development. In addition to developing HearthSide Towne Lake, the remainder of the site was developed as a medical office building for the Pinnacle Orthopedics and Sports medical group.
The project’s success was due to OneStreet’s site plan efficiency and creativity. To minimize project costs and maintain a financially feasible project, we did not alter the site. Instead, we worked within the severely sloped topography and previously constructed retaining walls and utilized an existing road as the entrance boulevard. This resulted in a site planning challenge to reach the 100-unit size, plus surface parking, on 3.5 acres of useable land needed for feasibility.
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 Hearthside Towne Lake (62+ Senior Community) 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Cherry (1/1) | 752ft2 | Call for Price† |
| Dogwood (2/2) | 1015ft2 | Call for Price† |
| Magnolia (2/1) | 942ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 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 |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Hearthside Towne Lake (62+ Senior Community) have a waiting list?
Hearthside Towne Lake (62+ Senior Community) 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 Hearthside Towne Lake (62+ Senior Community)?
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 Hearthside Towne Lake (62+ Senior Community)?
Hearthside Towne Lake (62+ Senior Community) is managed by OneStreet Residental headquartered in Atlanta, GA.
In addition to Hearthside Towne Lake (62+ Senior Community), how many other affordable housing properties (and units) are there in Woodstock?
In addition to Hearthside Towne Lake (62+ Senior Community), we list 84 other affordable properties in Woodstock. Learn about these properties here. Our data research shows that there are a total of 732 affordable units in Woodstock.
When was the Hearthside Towne Lake (62+ Senior Community) listing last updated?
Hearthside Towne Lake (62+ Senior Community) listing on Affordable Housing Online was last updated on 06/24/2024 by Alissa Ellison. Remember, a property's status can change so you should contact the property to confirm.
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