Greenwood Apartments, located at 101 Lincoln Ave in Mount Pleasant, has one bedroom apartments. Greenwood Apartments participates in the Low-Income Housing Tax Credit (LIHTC) and Section 515 Rural Rental Housing programs.
|1 Bedroom (1/1)||-||Income Based|
Greenwood Apartments is a 36 unit building for the elderly 62 years of age or handicap and disabled of any age. Greenwood Apartments is surrounded by beautiful trees and woods. There are 3 outside patios for your enjoyment, one with a gas grill. Currently there is an extensive wait list. All units are one bedroom equipped with refrigerator and stove. Security entrance. Rent is based on 30% adjusted gross monthly income. Onsite smart card laundry rooms, community room with kitchen, local transit bus transportation, and shopping within 3 miles of complex. Plenty of parking. Local Senior Citizen Center, Hospital and Medical facilities.
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.
This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.
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 Mount Pleasant but actual income limits may differ for units at Greenwood Apartments.
|AMI Band||1 Person||2 Person||3 Person||4 Person||5 Person||6 Person||7 Person||8 Person|
|Very Low Income (50%)||$28,000||$32,000||$36,000||$39,950||$43,150||$46,350||$49,550||$52,750|
|Low Income (60%)||$33,600||$38,400||$43,200||$47,940||$51,780||$55,620||$59,460||$63,300|
Greenwood Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.
Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.
Greenwood Apartments is managed by TM Associates Management, Inc.