Carrino Plaza

416-426 Broadway , Newark, NJ 07104

Waiting List Forecast: Likely Short or None

check_circleVerified for 2021 by Connor Bailey, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 3 Beds	1 - 2 Baths	711 - 1,402 Sq Ft

Call (844) 325-6088

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.

Carrino Plaza apartments feature spacious kitchens with modern appliances that include a microwave, dishwasher, range and refrigerator. Each layout has stylish, hard surface flooring, newly tiled bathrooms, individually controlled climate control, and much more! This community offers 1-, 2-, and 3-bedroom units.

Dave's Thoughts On Carrino Plaza

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 Carrino Plaza 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 Layfield, Founder of Affordable Housing Online

Carrino Plaza Amenities

Community Room
24hr Emergency Maintenance
Covered Parking
Garage
Air Conditioning
Dishwasher
Microwave
Refrigerator
Oven and Range
Large Closets

Units at Carrino Plaza

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	711ft²	Call for Price^†
Two Bedroom (2/2)	1034ft²	Call for Price^†
Three Bedroom (3/2)	1402ft²	Call for Price^†

Income Qualification for Carrino Plaza

*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	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year
50% AMI for PBRA Units	$42,650 / year	$48,750 / year	$54,850 / year	$60,900 / year	$65,800 / year	$70,650 / year
60% AMI for LIHTC Units	$51,180 / year	$58,500 / year	$65,820 / year	$73,080 / year	$78,960 / year	$84,780 / year

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

FAQs for Carrino Plaza

Does Carrino Plaza have a waiting list?

Carrino Plaza 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 Carrino Plaza?

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 Carrino Plaza?

Carrino Plaza is managed by The Michaels Organization headquartered in Camden, NJ.

In addition to Carrino Plaza, how many other affordable housing properties (and units) are there in Newark?

In addition to Carrino Plaza, we list 249 other affordable properties in Newark. Learn about these properties here. Our data research shows that there are a total of 23374 affordable units in Newark.