550 Sommer Way, Elyria, OH 44035
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $315 - 880 per Month† | 1 - 2 Beds | 1 Bath | - |
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.
1ST MONTH FREE WHEN YOU MOVE IN BY OCTOBER 31, 2019
Your new home awaits you at The Cottages at Riverview! A stunning 55 and better community of cottage style apartments nestled on nine acres of beautifully landscaped lawns, walking paths, community garden, and intergenerational playground. From the moment you enter the Community you will feel right at home.
Unique one and two bedroom apartments, designed with relaxation and convenience for YOU in mind, await you. Your new home features a private entrance with an attached garage and washer & dryer hookups. The living space is open and bright and waiting for you to make it your own.
The Community Clubhouse offers a fitness center along with weekly Medicaid and Medicare Clinic. Yard maintenance and snow removal are included so you can spend your time the fun things you desire.
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 Cottages at Riverview 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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) | - | $315 $695† |
| Two Bedroom (2/1) | 1279ft2 | $370 $880† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 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 |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does The Cottages at Riverview have a waiting list?
The Cottages at Riverview 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 Cottages at Riverview?
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 Cottages at Riverview?
The Cottages at Riverview is managed by New Sunrise Properties headquartered in Birmingham, Michigan.
In addition to The Cottages at Riverview, how many other affordable housing properties (and units) are there in Elyria?
In addition to The Cottages at Riverview, we list 12 other affordable properties in Elyria. Learn about these properties here. Our data research shows that there are a total of 1340 affordable units in Elyria.
When was the The Cottages at Riverview listing last updated?
The Cottages at Riverview 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.
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