Colony Apartments

3545 W Beltline Blvd, Columbia, South Carolina 29203

Colony Apartments, located at 3545 W Beltline Blvd in Columbia, has two bedroom apartments. Colony Apartments participates in the Section 8 Project-Based Rental Assistance and Low-Income Housing Tax Credit (LIHTC) programs.

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Units

Unit (Bd/Ba) Ft2 Rent
2 Bedroom (2/1) - Income Based

Colony Apartments Details

  • 300 two bedroom units.
  • Project-Based Rental Assistance

Property Amenities

  • Playground
  • Community Room
  • On-Site Management
  • Off Street Parking
  • On-Site Maintenance
  • Laundry Facilities
  • Courtesy Patrol

Unit Amenities

  • Central Heat & Air
  • Private Patios
  • Energy Efficient Appliances
  • Newly Remodeled Kitchens

Nearby Amenities

  • Close to Dining
  • Close to Public Transportation
  • Close to Shopping
  • Near Schools

About Colony Apartments

Welcome to Colony Apartments where you can find comfortable and affordable housing for your family. Colony Apartments is currently undergoing a renovation that encompasses extensive exterior and interior work. Our renovated community features two-bedroom apartment homes in a multi-building, garden-style fenced secured complex located in east Columbia's Bailey Street/Lester Drive neighborhood. Only five miles to downtown Columbia, Colony Apartments is located in close proximity to shopping, dining and schools. There are three bus stops at Colony making transportation a breeze.

Our residents enjoy a wide range of amenities including on-site property management and maintenance; secure property with perimeter fencing and 24-hour surveillance; new community center; playgrounds; and upgraded commercial laundry center. Our professional staff looks forward to providing you with the highest standard of professional property management and are committed to improving the communities where we live and work. It's a great place to call home!

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.

Columbia 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 Columbia but actual income limits may differ for units at Colony Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $14,500 $16,910 $21,330 $25,750 $30,170 $34,590 $39,010 $43,430
50% $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
80% $38,600 $44,100 $49,600 $55,100 $59,550 $63,950 $68,350 $72,750

Columbia 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 Columbia but actual income limits may differ for units at Colony Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $24,150 $27,600 $31,050 $34,450 $37,250 $40,000 $42,750 $45,500
Low Income (60%) $28,980 $33,120 $37,260 $41,340 $44,700 $48,000 $51,300 $54,600

These general income qualifications for Columbia, South Carolina should only be used as a basic guide. To find out if you qualify, contact the community directly.

Colony Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Colony Apartments has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

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.

Colony Apartments is managed by Monroe Group Ltd..

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