600 Olivia Dr., Geneseo, IL 61254
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena BentleyRent | Beds | Baths | SqFt |
---|---|---|---|
$379 - 845 per Month† | 1 - 2 Beds | 1 - 2 Baths | 670 - 1,007 Sq Ft |
This property is currently under construction.
Construction scheduled to be completed January 2021.
Geneseo Commons is a new affordable senior apartment development located in Geneseo, IL. Geneseo Commons was created to be both functional and beautiful in design. Their independent senior living apartments in Geneseo, IL boast many amenities and a fantastic location. Come see all that their senior apartments have to offer, and they hope you’ll find your new home here!
At Geneseo Commons, you’ll feel right at home! With an on-site management office, community room, fitness center and in-unit washer and dryer, you’ll be a part of a community of active seniors age 62 and older who will enjoy the independent lifestyle they’ve grown accustomed to without any of the headaches. Their maintenance staff will take care of any issues in your unit and ensure that you are taken care of quickly and efficiently.
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 Geneseo Commons Senior Living 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 |
---|---|---|
One Bedroom (1/1) | 670ft2 | $379 $715† |
Two Bedroom (2/2) | 1007ft2 | $455 $845† |
AMI* | 1 person | 2 people | 3 people | 4 people |
---|---|---|---|---|
50% AMI for LIHTC Units | $30,950 / year | $35,400 / year | $39,800 / year | $44,200 / year |
50% AMI for PBRA Units | $30,950 / year | $35,400 / year | $39,800 / year | $44,200 / year |
60% AMI for LIHTC Units | $37,140 / year | $42,480 / year | $47,760 / year | $53,040 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Geneseo Commons Senior Living have a waiting list?
Geneseo Commons Senior Living 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 Geneseo Commons Senior Living?
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.
In addition to Geneseo Commons Senior Living, how many other affordable housing properties (and units) are there in Geneseo?
In addition to Geneseo Commons Senior Living, we list 3 other affordable properties in Geneseo. Learn about these properties here. Our data research shows that there are a total of 16 affordable units in Geneseo.
When was the Geneseo Commons Senior Living listing last updated?
Geneseo Commons Senior Living listing on Affordable Housing Online was last updated on 03/08/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Connie Bonds Pittmon says:
"I found a very nice apartment faster than I expected. Thank You Affordable Housing Online!"