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Lake Park Senior Apartments

51 10th Street West, Hobart, Indiana 46342

These newly built 1 and 2 bedroom apartments include one three-story building and nine one-story villa buildings with attached garages.  Imagine all the fun you will have growing fruit and vegetables in the community’s raised garden beds!

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) - From $550 To $1,250
Two Bedroom (2/1) - From $660 To $1,450

Lake Park Senior Apartments Details

  • 40 one and two bedroom units.
  • Section 202 Supportive Housing for the Elderly
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Fitness Center
  • Community Room
  • 24hr Emergency Maintenance
  • Gazebo
  • Community Garden
  • Pet Friendly

Unit Amenities

  • Air Conditioning
  • Dishwasher
  • Garbage Disposal
  • Washer/ Dryer
  • Private Patios
  • Electric Range

Section 202 Supportive Housing for the Elderly

Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Lake Park Senior Apartments is managed by Real America .

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