428 Main St, Towanda, PA 18848
Waiting List Forecast: Likely Short or None
Verified for 2023 by Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
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.
Towanda Terrace is located on Main Street in Towanda, Bradford County. This development, located at the one time site of a furniture factory destroyed by fire, is designed to provide 38 pleasant, affordable living spaces for people aged 62 and older, along with commercial space on the first floor.
Because Towanda Terrace 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
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $27,050 / year | $30,900 / year | $34,750 / year | $38,600 / year | $41,700 / year | $44,800 / year | $47,900 / year | $51,000 / year |
| 50% AMI for PBRA Units | $27,050 / year | $30,900 / year | $34,750 / year | $38,600 / year | $41,700 / year | $44,800 / year | $47,900 / year | $51,000 / year |
| 60% AMI for LIHTC Units | $32,460 / year | $37,080 / year | $41,700 / year | $46,320 / year | $50,040 / year | $53,760 / year | $57,480 / year | $61,200 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Towanda Terrace have a waiting list?
Towanda Terrace 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 Towanda Terrace?
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.
In addition to Towanda Terrace, how many other affordable housing properties (and units) are there in Towanda?
In addition to Towanda Terrace, we list 3 other affordable properties in Towanda. Learn about these properties here. Our data research shows that there are a total of 69 affordable units in Towanda.
When was the Towanda Terrace listing last updated?
Towanda Terrace listing on Affordable Housing Online was last updated on 03/31/2023 by Ric Gresia. Remember, a property's status can change so you should contact the property to confirm.
125 Colonial Dr, Towanda, Pennsylvania 18848
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