Saratoga Place Apartments I & II

798 Saratoga St, Newport, Kentucky 41071

Saratoga Place Apartments I & II, located at 798 Saratoga St in Newport, has one bedroom apartments. Saratoga Place Apartments I & II participates in the Low-Income Housing Tax Credit (LIHTC) and HOME Investment Partnerships Program programs.

This property is currently under construction.

Phase 2 is currently under construction

Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Call for Price

Saratoga Place Apartments I & II Details

  • 96 one bedroom units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)
  • Near Elderly (55+)

Property Amenities

  • Off-Street Parking

About Saratoga Place Apartments I & II

Senior housing facilities at Saratoga Place Apartments I & II are designed to meet the needs of seniors living independently in a safe, secure environment with on-site support services. Amenities and Features include: Affordable Housing based on income, Off-street parking, On-site Senior Support Specialist during business hours, On-site activities and day trips, Transportation available for grocery shopping, banking, and medical appointments, Monthly USDA Commodities Distribution, Individualized assistance with applications for services and resources, Low income discounts on heat and electric, Visiting physicians, Blood pressure clinics, Nutrition speakers, and Connection to skilled nursing, physical rehabilitation and hospice services.

  

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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Newport Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Newport but actual income limits may differ for units at Saratoga Place Apartments I & II.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $28,500 $32,550 $36,600 $40,650 $43,950 $47,200 $50,450 $53,700
Low Income (60%) $34,200 $39,060 $43,920 $48,780 $52,740 $56,640 $60,540 $64,440

Saratoga Place Apartments I & II was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Saratoga Place Apartments I & II is managed by Brighton Center, INC..

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