1937 Prospect Ave, Cleveland, OH 44115
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $358 - 1,310 per Month† | 1 - 2 Beds | 1 Bath | 850 - 1,000 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.
Prospect Yard is a historic community that offers a secure, active lifestyle. Each of these newly renovated 1 and 2-bedroom lofts include energy efficient appliances and a washer/dryer. Enjoy the privacy of this controlled access community with on-site management and a community room. Located near the Theatre District of Downtown Cleveland, Prospect Yard is on the bus line and is within 2 minutes of 1900 Food and Beverage Store, Pizza Den, and Bloom Bakery. They are 5 minutes from Castle High School and Progressive Field.
Because Prospect Yard 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 |
|---|---|---|
| One Bedroom (1/1) | 850ft2 | $358 $1,096† |
| Two Bedroom (2/1) | 1000ft2 | $1,310† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 30% AMI for PBRA Units | $19,000 / year | $21,700 / year | $24,860 / year | $30,000 / year |
| 50% AMI for LIHTC Units | $31,650 / year | $36,200 / year | $40,700 / year | $45,200 / year |
| 50% AMI for PBRA Units | $31,650 / year | $36,200 / year | $40,700 / year | $45,200 / year |
| 60% AMI for LIHTC Units | $37,980 / year | $43,440 / year | $48,840 / year | $54,240 / year |
| 80% AMI for PBRA Units | $50,650 / year | $57,850 / year | $65,100 / year | $72,300 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Prospect Yard have a waiting list?
Prospect Yard 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 Prospect Yard?
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 Prospect Yard?
Prospect Yard is managed by Woda Cooper Companies, Inc. headquartered in Columbus, OH.
In addition to Prospect Yard, how many other affordable housing properties (and units) are there in Cleveland?
In addition to Prospect Yard, we list 274 other affordable properties in Cleveland. Learn about these properties here. Our data research shows that there are a total of 26740 affordable units in Cleveland.
When was the Prospect Yard listing last updated?
Prospect Yard listing on Affordable Housing Online was last updated on 01/01/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
6755 Mayfield Rd, Cleveland, Ohio 44124
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