2534 Lake Wheeler Rd, Raleigh, NC 27603
Waiting List Forecast: Likely Short or None
Verified for 2019 by Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio Bed | 1 Bath | 500 Sq Ft |
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.
Lennox Chase features studio apartments in a smoke-free building for individuals with annual incomes of 50% or less of the median income for Wake County. Each studio apartment, approximately 500 square feet, includes a full kitchen and bath, along with a combination living and sleeping area. With large windows, ample storage space and open floor plans, the studios have the feel of loft apartments.
DHIC worked with Wake County Human Services and representatives from referral agencies to plan Lennox Chase as a community that helps individuals make the successful transition from homelessness, transitional housing programs and overcrowded, costly or substandard housing. Six units are restricted to individuals earning 30% of area median income (AMI), 9 units are for individuals earning 35% of AMI, and 21 units are for individuals earning 50% of AMI.
Because Lennox Chase 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 |
|---|---|---|
| Studio (Studio/1) | 500ft2 | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year | $70,250 / year | $74,800 / year |
| 50% AMI for PBRA Units | $39,700 / year | $45,350 / year | $51,000 / year | $56,650 / year | $61,200 / year | $65,750 / year | $70,250 / year | $74,800 / year |
| 60% AMI for LIHTC Units | $47,640 / year | $54,420 / year | $61,200 / year | $67,980 / year | $73,440 / year | $78,900 / year | $84,300 / year | $89,760 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lennox Chase have a waiting list?
Lennox Chase 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 Lennox Chase?
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 Lennox Chase?
Lennox Chase is managed by Community Management Corporation headquartered in Winston-Salem, North Carolina.
In addition to Lennox Chase, how many other affordable housing properties (and units) are there in Raleigh?
In addition to Lennox Chase, we list 141 other affordable properties in Raleigh. Learn about these properties here. Our data research shows that there are a total of 8821 affordable units in Raleigh.
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