Riverside Arms

16 Chester Avenue, Newark, NJ 07104

Waiting List Forecast: Likely Short or None

check_circleVerified for 2022 by Connor Bailey, Lorena Bentley, Joshua Cappell

Rent	Beds	Baths	SqFt
$1,150 - 1,585 per Month^†	1 - 3 Beds	1 - 2 Baths	678 - 1,150 Sq Ft

Call (973) 878-1600

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.

Riverside Arms Apartments is located in Newark New Jersey, a commuters dream located off Route 21 and McCarter Highway with New York City just a few train stops away! Enjoy newly built 1, 2 and 3 bedroom floor plan styles, landscaped grounds and community gathering space with media center. With area recreation, shopping and dining nearby, Riverside Arms Apartments offers a blend of lifestyle offerings and conveniences.

Dave's Thoughts On Riverside Arms

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 Riverside Arms 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 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. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Riverside Arms Amenities

Community Room
Close to Public Transportation
Near Park
Central Air
Dishwasher
Window Coverings
Water Included
Community Media Center
Online Payments Accepted
Energy Star Appliances
Washer and Dryer Included
Downtown Location
24 Hour Maintenance
Game Room
Courtyard
Resident Lounge

Units at Riverside Arms

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	678ft²	$1,150^†
Two Bedroom (2/1)	915ft²	Call for Price^†
Three Bedroom (3/2)	1150ft²	$1,585^†

Income Qualification for Riverside Arms

*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 Riverside Arms

Does Riverside Arms have a waiting list?

Riverside Arms 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 Riverside Arms?

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 Riverside Arms?

Riverside Arms is managed by WinnCompanies headquartered in Boston, Massachusetts.

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

In addition to Riverside Arms, 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.