Park Terrace, located at 885 Sharon Circle in High Point, has one, two and three bedroom apartments. Park Terrace participates in the Low-Income Housing Tax Credit (LIHTC) program.
|1 Bedroom (1/1)||770-827||$606|
|2 Bedroom (2/2)||1002-1042||$699|
|2 Bedroom (2/1)||949||$679|
|3 Bedroom (3/2)||1130-1252||$779|
|3 Bedroom (3/2.5)||1251-1340||$799|
Centered near major shopping, dining and area schools, Park Terrace is in the heart of High Point. A short drive down the road takes you anywhere you want to go, and you'll have the added convenience of being right on the High Point bus line!
When you make Park Terrace your home, you can enjoy relaxing on the sundeck by the sparkling swimming pool, exercising in the fitness center, grilling outdoors in our picnic area or meeting new friends at the playground.
The perks don't stop at your doorstep: each apartment home has a fully-equipped kitchen with dishwasher and Energy Star appliances, your own balcony or patio where you can overlook the beautifully landscaped grounds, washer/dryer hook-ups (bring your own or use our laundry facility on-site), bay windows (in some apartments) and ceilings fans to provide an environment with an abundance of natural air and light, and large closets that enhance the comfort and convenience of your home.
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 High Point but actual income limits may differ for units at Park Terrace.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$21,150||$24,150||$27,150||$30,150||$32,600||$35,000||$37,400||$39,800|
|Low Income (60%)||$25,380||$28,980||$32,580||$36,180||$39,120||$42,000||$44,880||$47,760|
Park Terrace 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.