3384 NE Oxford Cir, Corvallis, OR 97330
Waiting List Forecast: Likely Short or None
Verified for 2023 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 2 - 4 Beds | 1.5 - 2 Baths | 850 - 1,224 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.
Lancaster Bridge is a beautiful apartment complex in northeast Corvallis that provides affordable housing to qualified households earning 50% or below the area median income (AMI) in Benton County. This recently renovated property is adjacent to the Jackson Frazier Wetlands boardwalk and within walking distance of a free public transportation bus route, Cheldelin Middle School, and a large sports park. Local shopping and the Samaritan Health Medical Complex are also within 1-2 miles from the property.
This property has a limited number of units set aside as a preference given to applicants who both income qualify and are referrals of Service Provider agencies that assist people who are homeless, or at risk of becoming homeless. Please contact property management for questions regarding the verification process.
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 Lancaster Bridge 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 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Two Bedroom One in a half Bath (2/1.5) | 850ft2 | Call for Price† |
| Three Bedroom One in a half Bath (3/1.5) | 1067ft2 | Call for Price† |
| Four Bedroom Two Bath (4/2) | 1224ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $34,400 / year | $39,300 / year | $44,200 / year | $49,100 / year | $53,050 / year | $57,000 / year | $60,900 / year | $64,850 / year |
| 50% AMI for PBRA Units | $34,400 / year | $39,300 / year | $44,200 / year | $49,100 / year | $53,050 / year | $57,000 / year | $60,900 / year | $64,850 / year |
| 60% AMI for LIHTC Units | $41,280 / year | $47,160 / year | $53,040 / year | $58,920 / year | $63,660 / year | $68,400 / year | $73,080 / year | $77,820 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Lancaster Bridge have a waiting list?
Lancaster Bridge 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 Lancaster Bridge?
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 Lancaster Bridge?
Lancaster Bridge is managed by Cascade Management, Inc headquartered in Portland, Oregon.
In addition to Lancaster Bridge, how many other affordable housing properties (and units) are there in Corvallis?
In addition to Lancaster Bridge, we list 22 other affordable properties in Corvallis. Learn about these properties here. Our data research shows that there are a total of 503 affordable units in Corvallis.
When was the Lancaster Bridge listing last updated?
Lancaster Bridge listing on Affordable Housing Online was last updated on 03/31/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.
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