Renaissance is a holistic redevelopment funded by the Charlotte Housing Authority, HOPE VI Funds and several other sources. Rather than focusing on a single component of community change, holistic initiatives include mixed-income housing, radically improved cradle-to-college educational opportunities, youth and adult development programs, job training, health and wellness programs, transportation access and recreational opportunities.
The initial phase of The Renaissance’s mixed-income component is The Retreat, comprised of 110 state-of-the-art apartment homes designed specifically for fixed-income seniors and disabled individuals. The next phase of development is called The Residences which provides mixed-income apartment homes for qualifying working families. The mixed-income housing is being developed by Laurel Street Residential and managed by S.L. Nusbaum Realty Co.
|Ellington (1/1)||708||Call for Price|
|Langston (1/1)||761||Call for Price|
|Bearden (1/1)||771||Call for Price|
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.
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 Charlotte but actual income limits may differ for units at The Retreat at Renaissance.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$29,500||$33,700||$37,900||$42,100||$45,500||$48,850||$52,250||$55,600|
|Low Income (60%)||$35,400||$40,440||$45,480||$50,520||$54,600||$58,620||$62,700||$66,720|
The Retreat at Renaissance is managed by S.L Nusbaum Realty Co.