20 W Chestnut Ave, Merchantville, NJ 08109
Waiting List Forecast: Likely Short or None
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 - 2 Baths | 671 - 815 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.
"Comfortable living and simple elegance are what you’ll find at Chestnut Station Senior Apartments. This charming, four-story community is located in the historic village of Merchantville, NJ. Designed for individuals 55+, these apartments offer a full range of on-site services and amenities, along with our fabulous one and two bedroom apartments which make Chestnut Station a place you’ll love to call home."
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 Chestnut Station Apartments 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. As a LIHTC property that chose the 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 671ft2 | Call for Price† |
| Two Bedrooms (2/2) | 815ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,100 / year | $44,650 / year | $50,250 / year | $55,800 / year |
| 50% AMI for PBRA Units | $39,100 / year | $44,650 / year | $50,250 / year | $55,800 / year |
| 60% AMI for LIHTC Units | $46,920 / year | $53,580 / year | $60,300 / year | $66,960 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Chestnut Station Apartments have a waiting list?
Chestnut Station 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 Chestnut Station 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 Chestnut Station Apartments?
Chestnut Station Apartments is managed by Conifer Realty, LLC headquartered in Rochester, New York.
In addition to Chestnut Station Apartments, how many other affordable housing properties (and units) are there in Merchantville?
In addition to Chestnut Station Apartments, we list 2 other affordable properties in Merchantville. Learn about these properties here. Our data research shows that there are a total of 148 affordable units in Merchantville.
When was the Chestnut Station Apartments listing last updated?
Chestnut Station Apartments listing on Affordable Housing Online was last updated on 01/02/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.
25 E Park Ave, Merchantville, New Jersey 08109
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Rose Carr says:
"Affordable Housing Online is a great resource to finding Section 8 waitlists that are open!"