1005 Prestwick Dr, Zion, IL 60099
Waiting List Forecast: Likely Short or None
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $508 - 900 per Month† | 1 - 2 Beds | 1 Bath | 659 - 905 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.
Zion Senior Cottages residence is a privately owned community that was built in 2006 and developed under the Federal Affordable Housing Tax Credit Program. We are monitored by both the Federal Government and by the Illinois Housing Authority, to insure that our rents will remain "affordable" by state guidelines for at least 30 years.
Because Zion Senior Cottages participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, 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) | 659ft2 | $508 $760† |
| 2 Bedroom (2/1) | 905ft2 | $611 $900† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year |
| 50% AMI for PBRA Units | $38,650 / year | $44,150 / year | $49,650 / year | $55,150 / year |
| 60% AMI for LIHTC Units | $46,380 / year | $52,980 / year | $59,580 / year | $66,180 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Zion Senior Cottages have a waiting list?
Zion Senior Cottages 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 Zion Senior Cottages?
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 Zion Senior Cottages, how many other affordable housing properties (and units) are there in Zion?
In addition to Zion Senior Cottages, we list 20 other affordable properties in Zion. Learn about these properties here. Our data research shows that there are a total of 1047 affordable units in Zion.
When was the Zion Senior Cottages listing last updated?
Zion Senior Cottages listing on Affordable Housing Online was last updated on 01/03/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.
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