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Fieldstone Apartments

125 Knowlesway Extension, Narragansett, Rhode Island 02882

Fieldstone Apartments are located almost equidistant between Point Judith Pond and Ocean Road in the scenic beachside town of Narragansett. All of the apartments (two bedroom units only) at this Family Development were completely renovated in the spring of 2008, and include high speed internet access and cable television hook-ups. There is parking on-site, and shopping and town services are close by. Rent subsidies are available for income-qualified applicants. Professional management, including 24-hour emergency response, is provided by Preservation Housing Management (PHM).

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Units

Unit (Bd/Ba) Ft2 Rent
Two Bedroom (2/1) 832 Call for Price

Fieldstone Apartments Details

  • 24 0 bedroom units.
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Unit Amenities

  • Cable Ready
  • Window Coverings
  • Carpet
  • Refrigerator

Nearby Amenities

  • Near Park

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Section 8 Project-Based Rental Assistance tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. There is a minimum tenant contribution of $25 for all rents at this property regardless of tenant income.

Low-Income Housing Tax Credit (LIHTC)

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.

Narragansett HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Narragansett but actual income limits may differ for units at Fieldstone Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $18,300 $20,900 $23,500 $26,200 $30,680 $35,160 $39,640 $44,120
50% $30,450 $34,800 $39,150 $43,500 $47,000 $50,500 $53,950 $57,450
80% $48,750 $55,700 $62,650 $69,600 $75,200 $80,750 $86,350 $91,900

Narragansett Low-Income Housing Tax Credit Income Limits

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 Narragansett but actual income limits may differ for units at Fieldstone Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $30,450 $34,800 $39,150 $43,500 $47,000 $50,500 $53,950 $57,450
Low Income (60%) $36,540 $41,760 $46,980 $52,200 $56,400 $60,600 $64,740 $68,940

Fieldstone Apartments is managed by Preservation Housing Management .

Image of Fieldstone Apartments
Image of Fieldstone Apartments

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