475 Main St, Fort Lee, NJ 07024
Waiting List Forecast: Likely Long or Closed
Verified for 2019 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
Since this property may have a Section 8 Property Based Rental Assistance contract with rental assistance available to its residents, it is likely the property has a waiting list. Sometimes these waiting lists can be months or years long and may or may not be accepting new applicants. 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.
This property participates in the Section 8 Project-Based Rental Assistance program meaning the rent for many, if not all, units is based on a tenant's income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. Also, project-based Section 8 properties tend to have longer waiting lists, with some with waiting lists going out for years. This property was also financed through a HUD-insured private mortgage meaning the owner has oversight from both a private bank and HUD. This usually means Malcolm Towers is kept in good condition. Since this property has a project-based Section 8 contract, you won't need a Section 8 voucher to live here. If you have a voucher, you may have to give it up to live here.
~ Dave Layfield, Founder of Affordable Housing Online
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $27,250 / year | $31,150 / year | $35,050 / year | $38,900 / year | $42,050 / year | $45,150 / year | $48,250 / year | $51,350 / year |
| 50% AMI for LIHTC Units | $45,400 / year | $51,850 / year | $58,350 / year | $64,800 / year | $70,000 / year | $75,200 / year | $80,400 / year | $85,550 / year |
| 50% AMI for PBRA Units | $45,400 / year | $51,850 / year | $58,350 / year | $64,800 / year | $70,000 / year | $75,200 / year | $80,400 / year | $85,550 / year |
| 80% AMI for PBRA Units | $66,750 / year | $76,250 / year | $85,800 / year | $95,300 / year | $102,950 / year | $110,550 / year | $118,200 / year | $125,800 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Malcolm Towers have a waiting list?
Malcolm Towers probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Malcolm Towers?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Malcolm Towers?
Malcolm Towers is managed by SHP Management Corp headquartered in Cumberland Foreside, Maine.
In addition to Malcolm Towers, how many other affordable housing properties (and units) are there in Fort Lee?
In addition to Malcolm Towers, we list 4 other affordable properties in Fort Lee. Learn about these properties here. Our data research shows that there are a total of 653 affordable units in Fort Lee.
101 Cedar St , Fort Lee, New Jersey 07024
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