Victory Terrace brings new vision to Potomac, Maryland - an enhanced quality of life for seniors in moderately priced luxury rental apartment homes set in a serene wooded location, while convenient to nearby shopping centers and services. Our one and two bedroom floor plans feature a fully-equipped kitchen with a breakfast bar, plush wall-to-wall carpeting and closet space galore with a pantry closet, walk-in closet and foyer closet. Victory Terrace offers pet-friendly senior apartment living at an affordable rent!
In addition to our beautiful apartment homes, our residents enjoy utilizing the variety of amenities provided at Victory Terrace. Exercise in our fitness center while you wait for your laundry to finish or email friends and family in the computer lab. Activities abound- there is never a dull moment at Victory Terrace. Enjoy social activities ranging from seasonal celebrations, wellness seminars and exciting events. Relax and unwind outside on the patio by the calming coy pond. You will also find a library and many common areas for relaxing with neighbors. Our dedicated onsite management team provides 24 hour emergency maintenance and excellent customer service.
Ideally located in Montgomery County, Victory Terrace is convenient to major highways, I-270 and the Capital Beltway providing easy access to Rockville, Washington DC, Virginia and more! We are within close proximity to multiple bus stops and our community shuttle service plans monthly trips to local shopping centers and attractions. With convenience, accessibility and affordability, our award-winning senior community provides the best in retirement living in the DC Metro area! Call today to schedule a tour!
|1 Bedroom (1/1)||619||From $798 To $1,600|
|1 Bedroom W/ Den (1/1)||858||$1,870|
|2 Bedroom (2/1)||862||$1,500|
|2 Bedroom (2/1.5)||894||From $1,500 To $1,950|
|2 Bedroom (2/2)||912||From $1,500 To $2,070|
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.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.
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 Potomac but actual income limits may differ for units at Victory Terrace Senior Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person|
|Very Low Income (50%)||$44,100||$50,400||$56,700||$63,000||$68,050|
|Low Income (60%)||$52,920||$60,480||$68,040||$75,600||$81,660|
Victory Terrace Senior Apartments 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.
Victory Terrace Senior Apartments is managed by Habitat America LLC.