5115 Broadway Ave, Cleveland, OH 44127
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 1.5 Bath | 710 - 1,169 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.
The 5115 at the Rising is more than just an apartment building or development. It is a vision for the future of an inclusive, spirited community. It is a place where residents can live, gather and grow together in Cleveland, Ohio.
The 5115 at the Rising is the first piece of what will be a collection of modern mixed-use buildings located in the heart of Cleveland's Slavic Village. The first phase will feature 88 accessibly priced, one- and two- and three-bedroom apartment homes along with three- bedroom townhomes and serve as the new space for University Settlement.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests The 5115 at The Rising does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, 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) | 710ft2 | Call for Price† |
| Two Bedroom (2/1) | 915ft2 | Call for Price† |
| Three Bedroom (3/1.5) | 1091ft2 | Call for Price† |
| Three Bedroom (3/1.5) | 1169ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $31,650 / year | $36,200 / year | $40,700 / year | $45,200 / year | $48,850 / year | $52,450 / year |
| 50% AMI for PBRA Units | $31,650 / year | $36,200 / year | $40,700 / year | $45,200 / year | $48,850 / year | $52,450 / year |
| 60% AMI for LIHTC Units | $37,980 / year | $43,440 / year | $48,840 / year | $54,240 / year | $58,620 / year | $62,940 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does The 5115 at The Rising have a waiting list?
The 5115 at The Rising 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 The 5115 at The Rising?
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 The 5115 at The Rising?
The 5115 at The Rising is managed by The NRP Group LLC headquartered in Cleveland , Ohio.
In addition to The 5115 at The Rising, how many other affordable housing properties (and units) are there in Cleveland?
In addition to The 5115 at The Rising, 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 The 5115 at The Rising listing last updated?
The 5115 at The Rising listing on Affordable Housing Online was last updated on 06/04/2022 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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