Ellis Hollow

1028 Ellis Hollow Road, Ithaca, New York 14850

Ellis Hollow, located at 1028 Ellis Hollow Road in Ithaca, has one bedroom apartments. Ellis Hollow participates in the Low-Income Housing Tax Credit (LIHTC) program.

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Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 450 Call for Price

Ellis Hollow Details

  • 104 one bedroom units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)
  • Senior (62+)

Property Amenities

  • Elevator
  • Laundry Room
  • 24hr Emergency Maintenance

Unit Amenities

  • All Appliances included
  • Window Coverings
  • Carpet

Nearby Amenities

  • Close to Public Transportation

About Ellis Hollow

Ellis Hollow Road Apartments is a peaceful senior 62 years or older or disabled adults community on the east side of Ithaca, New York. We are conveniently located in a quiet, suburban neighborhood with a large shopping plaza which includes a grocery store, four banks, a pharmacy, three restaurants and a gift shop.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Ithaca Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Ithaca but actual income limits may differ for units at Ellis Hollow.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,400 $33,600 $37,800 $41,950 $45,350 $48,700 $52,050 $55,400
Low Income (60%) $35,280 $40,320 $45,360 $50,340 $54,420 $58,440 $62,460 $66,480

Ellis Hollow was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Ellis Hollow is managed by Conifer Realty, LLC.

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Image of Ellis Hollow
Image of Ellis Hollow