Prospect House

420 Reservoir Ave, Revere, MA 02151

Waiting List Forecast: Likely Short or None

check_circleVerified for 2017 by Joshua Cappell
Rent Beds Baths SqFt
Call for Rents Studio - 1 Bed 1 Bath 362 - 748 Sq Ft
check_circle  Senior (62+)
check_circle  Accepts Section 8 Housing Choice Vouchers (HCV)
check_circle  Market Rate
check_circle  Affordable

Waitlist Forecast

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.

Prospect House is an assisted living community located in the oceanfront neighborhood of Revere.

Opened in 2002, the house features 109 apartments and features a staff of trained professionals and state-of-the-art services.

At Prospect House, you're part of a vibrant community of friends, family and staff. You'll enjoy a lifestyle free of household chores and maintenance so that you may pursue lifelong interests or discover new ones. It's why we believe that Prospect House is not just a place to live; it's a way of life.

Dave's Thoughts On Prospect House

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 Prospect House 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Prospect House Amenities

  • Library
  • Resident lounges
  • Outings events & activities
  • Smoke Free
  • Courtyard

Units at Prospect House

Unit (Bd/Ba) Ft2 Rent
The Revere (Studio/1) 362ft2 Call for Price
The Lexington (Studio/1) 400ft2 Call for Price
The Cambridge (Studio/1) 462ft2 Call for Price
The Andover (1/1) 456ft2 Call for Price
The Cape Cod (1/1) 560ft2 Call for Price
The Charles (1/1) 748ft2 Call for Price

Income Qualification for Prospect House

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people 5 people 6 people 7 people 8 people
50% AMI for LIHTC Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for LIHTC Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for LIHTC Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for LIHTC Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for PBRA Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for PBRA Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for PBRA Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
50% AMI for PBRA Units $51,950 / year $59,400 / year $66,800 / year $74,200 / year $80,150 / year $86,100 / year $92,050 / year $97,950 / year
60% AMI for LIHTC Units $62,340 / year $71,280 / year $80,160 / year $89,040 / year $96,180 / year $103,320 / year $110,460 / year $117,540 / year
60% AMI for LIHTC Units $62,340 / year $71,280 / year $80,160 / year $89,040 / year $96,180 / year $103,320 / year $110,460 / year $117,540 / year
60% AMI for LIHTC Units $62,340 / year $71,280 / year $80,160 / year $89,040 / year $96,180 / year $103,320 / year $110,460 / year $117,540 / year
60% AMI for LIHTC Units $62,340 / year $71,280 / year $80,160 / year $89,040 / year $96,180 / year $103,320 / year $110,460 / year $117,540 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Prospect House

Does Prospect House have a waiting list?

Prospect House 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 Prospect House?

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 Prospect House?

Prospect House is managed by HallKeen Management headquartered in Norwood , Massachusetts.

In addition to Prospect House, how many other affordable housing properties (and units) are there in Revere?

In addition to Prospect House, we list 23 other affordable properties in Revere. Learn about these properties here. Our data research shows that there are a total of 988 affordable units in Revere.

Listings Near Prospect House

571 Revere St Apartments

571 Revere Street, Revere, Massachusetts 02151

bed 1-3
switch_access_shortcut Short Wait
real_estate_agent Accepts Vouchers

Bradstreet Community Residence

229 Bradstreet Ave, Revere, Massachusetts 02151

payment Subsidized
accessibility Accessible
accessible_forward Disability

Proctor Avenue Residence

25 Proctor Ave, Revere, Massachusetts 02151

payment Subsidized
accessibility Accessible
accessible_forward Disability

Broadway 104

104 Broadway, Revere, Massachusetts 02151

payment Subsidized
accessibility Accessible
accessible_forward Disability

North Suffolk Mental Health

14 Victoria St, Revere, Massachusetts 02151

switch_access_shortcut Short Wait

Hrca Housing for Elderly

420 Revere Beach Blvd, Revere, Massachusetts 02151

payment Subsidized
Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.

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