9 Chestnut Street, Gaithersburg, MD 20877
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $949 - 1,132 per Month† | 1 - 2 Beds | 1 Bath | 606 - 865 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.
Conveniently located near revitalized Olde Towne Gaithersburg, Maryland, The Oaks at Olde Towne offers the latest in affordable senior living for ages 62+. Attractive, one and two-bedroom apartments feature a kitchen with modern appliances, roomy closets, wall-to-wall carpeting and a private patio or balcony. Maintain peace of mind with our emergency response system and onsite management and maintenance, providing excellent customer service. Accessible apartments are available and small pets up to 35 lbs are welcome.
Enjoy a wide variety of amenities designed with you in mind. You can exercise in the fitness center, be pampered at the hair salon or relax in one of our many resident lounges from a library to a media room and more without ever leaving the building. Enjoy a number of social, educational and recreational events as well!
Located in Montgomery County, our senior apartments are nearby to the MARC train, Route 270 and the Intercounty Connector for quick access around the DC Metro area. Just across the street is the Gaitherstowne Plaza with retail stores, a dry cleaner and a veterinarian and nearby you will find many restaurants, specialty shops and the Lake Forest Mall. Residents may take advantage of transportation to shopping, medical appointments and the Gaithersburg Senior Center via the community van. Enjoy retirement living the way it should be at The Oaks at Olde Towne!
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 Oaks at Olde Towne 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 |
|---|---|---|
| The Oaks (1/1) | 606ft2 | $949† |
| The Pines (2/1) | 865ft2 | $1,132† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year |
| 50% AMI for PBRA Units | $52,750 / year | $60,300 / year | $67,850 / year | $75,350 / year |
| 60% AMI for LIHTC Units | $63,300 / year | $72,360 / year | $81,420 / year | $90,420 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Oaks at Olde Towne have a waiting list?
Oaks at Olde Towne 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 Oaks at Olde Towne?
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 Oaks at Olde Towne?
Oaks at Olde Towne is managed by WinnCompanies headquartered in Boston, Massachusetts.
In addition to Oaks at Olde Towne, how many other affordable housing properties (and units) are there in Gaithersburg?
In addition to Oaks at Olde Towne, we list 24 other affordable properties in Gaithersburg. Learn about these properties here. Our data research shows that there are a total of 1955 affordable units in Gaithersburg.
When was the Oaks at Olde Towne listing last updated?
Oaks at Olde Towne listing on Affordable Housing Online was last updated on 07/01/2022 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
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