Sheraton Towers

400 N Main St, High Point, North Carolina 27260

Sheraton Towers, located at 400 N Main St in High Point, has one and two bedroom apartments. Sheraton Towers participates in the Section 8 Project-Based Rental Assistance and Low-Income Housing Tax Credit (LIHTC) programs.

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Units

Unit (Bd/Ba) Ft2 Rent
Studio (1/1) - Income Based
1 Bedroom (1/1) - Income Based
2 Bedroom (2/1) - Income Based

Sheraton Towers Details

  • 97 one and two bedroom units.
  • Project-Based Rental Assistance
  • Senior (62+)

Property Amenities

  • Community Room
  • On-Site Parking
  • Secured Entry
  • Surveillance Cameras
  • Laundry Facilities

Unit Amenities

  • Refrigerator
  • Bathroom Grab Bars
  • Stove
  • Self-Cleaning Ovens
  • New Cabinets
  • Newly Remodeled Kitchens
  • Newly Remodeled Bathrooms

About Sheraton Towers

Discover Sheraton Towers, the ideal community to live if you are 62 years or older. We are home to an active senior community providing high-quality housing for our residents. Built in 1920 as a luxury hotel that was visited by many dignitaries including John F. Kennedy, Sheraton Towers was converted into apartments in 1982 and completely renovated in 2011. Our community features updated residences with a mix of studio, one- and two-bedroom apartment homes in an historic building featuring Art Deco architectural details including wrought iron staircases and tiling. Enjoy our amenities including secure entry, community room and on-site laundry facilities. Sheraton Towers is located in downtown High Point in close proximity to shopping, dining and public transportation. Our professional staff looks forward to providing you with the highest standard of professional property management and are committed to improving the communities where we live and work.

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

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.

High Point HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in High Point but actual income limits may differ for units at Sheraton Towers.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $12,700 $16,910 $21,330 $25,750 $30,170 $34,590 $37,400 $39,800
50% $21,150 $24,150 $27,150 $30,150 $32,600 $35,000 $37,400 $39,800
80% $33,800 $38,600 $43,450 $48,250 $52,150 $56,000 $59,850 $63,700

High Point 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 High Point but actual income limits may differ for units at Sheraton Towers.

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

These general income qualifications for High Point, North Carolina should only be used as a basic guide. To find out if you qualify, contact the community directly.

Sheraton Towers was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Sheraton Towers has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

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.

Sheraton Towers is managed by Monroe Group Ltd..

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