320 W Buffalo St, Ithaca, NY 14850
Waiting List Forecast: Likely Short or None
Verified for 2024 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 Bath | - |
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.
Founders Way offer a variety of affordable floor plans ranging from studio to 4-bedroom. Each unit features energy-efficient appliances, central heat/air, and trash,water, lawn care & snow removal included in the rent. Property amenities include a community room, on-site laundry facilities, and 24-hour emergency maintenance. The community is located in the heart of Ithaca, four blocks from restaurants, shopping, and employment opportunities on the Ithaca Commons, and immediately adjacent to Beverly J. Martin Elementary School. There are two public bus stops within 3 blocks of the site that provide access to grocery stores, pharmacies, home goods and Cornell University.
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 Founders Way 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Call for Price† |
| 1 Bedroom (1/1) | - | Call for Price† |
| 2 Bedroom (2/1) | - | Call for Price† |
| 3 Bedroom (3/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $37,150 / year | $42,450 / year | $47,750 / year | $53,050 / year | $57,300 / year | $61,550 / year |
| 50% AMI for PBRA Units | $37,150 / year | $42,450 / year | $47,750 / year | $53,050 / year | $57,300 / year | $61,550 / year |
| 60% AMI for LIHTC Units | $44,580 / year | $50,940 / year | $57,300 / year | $63,660 / year | $68,760 / year | $73,860 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Founders Way have a waiting list?
Founders Way 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 Founders Way?
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 Founders Way?
Founders Way is managed by Ithaca Neighborhood Housing Services headquartered in Ithaca, New York.
In addition to Founders Way, how many other affordable housing properties (and units) are there in Ithaca?
In addition to Founders Way, we list 55 other affordable properties in Ithaca. Learn about these properties here. Our data research shows that there are a total of 1682 affordable units in Ithaca.
When was the Founders Way listing last updated?
Founders Way listing on Affordable Housing Online was last updated on 07/03/2024 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.
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Housing options for seniors.
Many housing programs have apartments or entire properties restricted to senior residents only, including Section 202 Supportive Housing for the Elderly.Shirley Toran says:
"Affordable Housing Online is very good at keeping me informed on new and future dates for waiting list applications."