900 Duncan Vale Way, Cary, NC 27511
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 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.
Located near the heart of downtown Cary, Highland Terrace is an 80-unit apartment community for seniors 55 and greater. As the final phase of the Highland Village community, its convenient location provides residents with easy access to shopping, restaurants, health care, the Cary Senior Center and public transportation via C-Tran. In addition, Highland Terrace offers energy-efficient heating/cooling and appliances, water-saving fixtures, and a healthy living environment as DHIC's first LEED certified development.
Because Highland Terrace participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | - | Call for Price† |
| 2 Bedroom (2/1) | - | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year |
| 50% AMI for PBRA Units | $35,400 / year | $40,450 / year | $45,500 / year | $50,550 / year |
| 60% AMI for LIHTC Units | $42,480 / year | $48,540 / year | $54,600 / year | $60,660 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Highland Terrace have a waiting list?
Highland Terrace 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 Highland Terrace?
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 Highland Terrace?
Highland Terrace is managed by Community Management Corporation headquartered in Winston-Salem, North Carolina.
In addition to Highland Terrace, how many other affordable housing properties (and units) are there in Cary?
In addition to Highland Terrace, we list 16 other affordable properties in Cary. Learn about these properties here. Our data research shows that there are a total of 737 affordable units in Cary.
When was the Highland Terrace listing last updated?
Highland Terrace listing on Affordable Housing Online was last updated on 01/02/2023 by Colleen Carter. Remember, a property's status can change so you should contact the property to confirm.
Housing options for families with immigrants.
If the head of household is a citizen or eligible immigrant, you can still qualify for HUD programs with a citizenship requirement.Hisini Davis says:
"I love Affordable Housing Online, it shows me what's open and also when waiting lists close."