Annunciation Terrace

25 Broad St, Akron, Ohio 44305

Annunciation Terrace, located in Akron, Ohio, features 50, handicapped-accessible, one- and two- bedroom apartments.

All apartments are cable ready and have window coverings, an emergency call system and air conditioning.

Residents have access to a community room, health and wellness programs, off-street parking, an on-site laundry facility, social services and scheduled activities.

Gas heat, lawn care, trash, water, sewer & maintenance are also included.

Annunciation Terrace Details

  • 50 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Community Room
  • Off-Street Parking
  • Laundry Facility

Unit Amenities

  • Air Conditioning
  • Cable Ready

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.

Akron 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 Akron but actual income limits may differ for units at Annunciation Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $28,700 $32,800 $36,900 $41,000 $44,300 $47,600 $50,850 $54,150
Low Income (60%) $34,440 $39,360 $44,280 $49,200 $53,160 $57,120 $61,020 $64,980

Annunciation Terrace is managed by Wallick Communities.

Image of Annunciation Terrace

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