501 Eastern Apartments

501 Eastern Avenue Southeast, Grand Rapids, MI 49503

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Colleen Carter, Ric Gresia

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 3 Beds	1 Bath	-

This property is currently under construction.

ICCF anticipates the apartments will be ready for leasing at the end of 2019.

501 Eastern is a four-story construction development built to meet LEED Silver designation. It spans two buildings and provides much needed infill to the Eastern Avenue corridor in southeast Grand Rapids. 501 Eastern features a mixture of affordable and market rate apartments as well as live/work spaces and permanent supportive housing units.

With 65 total residential rental units, 61 apartments are reserved for low-income households. Additionally, there are six ground floor live/work units, of which four are market rate. 17 of the affordable units are designated as permanent supportive housing units for homeless youth.

Dave's Thoughts On 501 Eastern Apartments

Because 501 Eastern Apartments participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. Depending on the number of HOME-designated units, additional units may have even lower household income requirements and corresponding lower rent caps.

~ Dave Layfield, Founder of Affordable Housing Online

Units at 501 Eastern Apartments

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price^†
2 Bedroom (2/1)	-	Call for Price^†
3 Bedroom (3/1)	-	Call for Price^†

Income Qualification for 501 Eastern Apartments

*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
50% AMI for LIHTC Units	$33,150 / year	$37,900 / year	$42,650 / year	$47,350 / year	$51,150 / year	$54,950 / year
50% AMI for PBRA Units	$33,150 / year	$37,900 / year	$42,650 / year	$47,350 / year	$51,150 / year	$54,950 / year
60% AMI for LIHTC Units	$39,780 / year	$45,480 / year	$51,180 / year	$56,820 / year	$61,380 / year	$65,940 / year

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

FAQs for 501 Eastern Apartments

Does 501 Eastern Apartments have a waiting list?

501 Eastern Apartments 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 501 Eastern Apartments?

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 501 Eastern Apartments?

501 Eastern Apartments is managed by ICCF Community Homes headquartered in Grand Rapids, Michigan.

In addition to 501 Eastern Apartments, how many other affordable housing properties (and units) are there in Grand Rapids?

In addition to 501 Eastern Apartments, we list 197 other affordable properties in Grand Rapids. Learn about these properties here. Our data research shows that there are a total of 5694 affordable units in Grand Rapids.

When was the 501 Eastern Apartments listing last updated?

501 Eastern Apartments listing on Affordable Housing Online was last updated on 01/30/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.