2001 Edison Avenue, Granite City, IL 62040
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $525 - 750 per Month† | 1 - 2 Beds | 1 - 1.5 Bath | - |
This project has been funded and will begin construction soon.
http://www.risestl.org/7749/rise-community-development-transforms-ymca-into-arts-hub-and-affordable-apartments/
December 18, 2019 – Rise Community Development (Rise) is pleased to announce closing on the financing for the rehabilitation and conversion of the former Tri-City YMCA in Granite City!
Located in historic downtown Granite City, Edison Avenue Art Lofts offers high-quality, affordable housing in the heart of the burgeoning Granite City arts scene.
Here, you’re within walking distance of boutique restaurants and coffee shops, the Granite City Cinema, and more!
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 Edison Avenue Art Lofts 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) | - | $525 $750† |
| Two Bedroom One Bath (2/1) | - | $525 $750† |
| Two Bedroom One Half Bath (2/1.5) | - | $525 $750† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $35,200 / year | $40,200 / year | $45,250 / year | $50,250 / year |
| 50% AMI for PBRA Units | $35,200 / year | $40,200 / year | $45,250 / year | $50,250 / year |
| 60% AMI for LIHTC Units | $42,240 / year | $48,240 / year | $54,300 / year | $60,300 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Edison Avenue Art Lofts have a waiting list?
Edison Avenue Art Lofts 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 Edison Avenue Art Lofts?
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 Edison Avenue Art Lofts?
Edison Avenue Art Lofts is managed by McCormack Baron Management headquartered in Saint Louis , Missouri.
In addition to Edison Avenue Art Lofts, how many other affordable housing properties (and units) are there in Granite City?
In addition to Edison Avenue Art Lofts, we list 25 other affordable properties in Granite City. Learn about these properties here. Our data research shows that there are a total of 803 affordable units in Granite City.
When was the Edison Avenue Art Lofts listing last updated?
Edison Avenue Art Lofts listing on Affordable Housing Online was last updated on 03/06/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
Know your rights as a Section 8 tenant.
In many areas, private landlords with an available unit can refuse interested tenants who have a Section 8 voucher. Check your local laws.Montana Love says:
"This is the greatest website I have ever used. It keeps you informed and updated on any place that has affordable housing. Thank you Affordable Housing Online!"