1515 Bryan Street, Henry, IL 61537
Waiting List Forecast: Likely Short or None
Verified for 2019 by Connor Bailey, Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $565 - 683 per Month† | 1 - 2 Beds | 1 Bath | 676 - 935 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.
The Housing Authority of Champaign County is pleased to announce the completion of Oak Field Place. The newly completed Oak Field Place, affordable Senior Housing complex is now open for leasing. The project is a 30-unit, new construction development located at 1515 Bryan Street, Henry, Il, an IHDA Opportunity Area, for individuals 55 years and older. There are 26 one-bedroom units (665-800 SF) and 4 two-bedroom units (810-1000 sf). All apartments include: Refrigerator, dishwasher, washer, and dryer. The development includes a large open community room that includes a kitchen with counter seating. An on-site management office and a non-profit/social service office are located at the building’s main entrance. This development is a 1-story, traditional building design with abundant natural light as well as energy-efficient and universal design components. Additional amenities include: Shared garden, fitness room, a computer room, and a reading room/library. Units are income-restricted under the Low-Income Housing Tax Credit Program and ten units have Project-Based Vouchers that provide rental assistance. TWO MONTHS FREE RENT when you submit your application by March 23, 2021. https://hacc.net/housing/apply-for-housing/ For questions call 217-378-7100 ext 5001
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 Oak Field Place 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 |
|---|---|---|
| 1 Bedroom (1/1) | 676ft2 | $565 $578† |
| 2 Bedroom (2/1) | 935ft2 | $683† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $31,650 / year | $36,150 / year | $40,650 / year | $45,150 / year |
| 50% AMI for PBRA Units | $31,650 / year | $36,150 / year | $40,650 / year | $45,150 / year |
| 60% AMI for LIHTC Units | $37,980 / year | $43,380 / year | $48,780 / year | $54,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Oak Field Place have a waiting list?
Oak Field Place 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 Oak Field Place?
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 Oak Field Place, how many other affordable housing properties (and units) are there in Henry?
In addition to Oak Field Place, we list 2 other affordable properties in Henry. Learn about these properties here. Our data research shows that there are a total of 78 affordable units in Henry.
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