Old Hickory Towers

930 Industrial Dr, Lakewood, Tennessee 37138

Old Hickory Towers, located at 930 Industrial Dr in Lakewood, has one and two bedroom apartments. Old Hickory Towers 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
One Bedroom (1/1) 512 Call for Price
Two Bedroom (2/1) 840 Call for Price

Old Hickory Towers Details

  • 217 one and two bedroom units.
  • Project-Based Rental Assistance
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Elevator
  • Fitness Center
  • On-Site Maintenance
  • Laundry Facility

About Old Hickory Towers

Are you searching for a community that is dedicated to serving the housing needs of seniors and those with disabilities in Old Hickory, Tennessee? Look no further than Old Hickory Towers, a beautiful apartment community, providing affordable housing through Section 8 subsidy for elderly and disabled residents. All your shopping, dining and entertainment needs are close to home! If comfort and convenience are important factors in your life, you’ve come to the right place!

Old Hickory Towers apartment community offers three floor plans featuring one and two bedroom options, as well as a duplex. Our standard amenities include disability access, emergency call systems, all major appliances, mini blinds and so much more. We have something for everyone.

Don’t feel like leaving home? You don’t have to. We offer snacks in our clubhouse Monday through Friday, a coffee bar, a DVD room, billiards, a fitness center, and so much more! We are currently undergoing renovations from the bottom up, as well as adding a community center to the community grounds. Our team is dedicated to providing quick and excellent service when you need it. Give us a call to schedule your personal tour today, we can’t wait to show you your new 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.

Lakewood 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 Lakewood but actual income limits may differ for units at Old Hickory Towers.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $16,800 $19,200 $21,600 $25,750 $30,170 $34,590 $39,010 $43,430
50% $28,000 $32,000 $36,000 $40,000 $43,200 $46,400 $49,600 $52,800
80% $44,800 $51,200 $57,600 $64,000 $69,150 $74,250 $79,400 $84,500

Lakewood 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 Lakewood but actual income limits may differ for units at Old Hickory Towers.

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 $40,000 $43,200 $46,400 $49,600 $52,800
Low Income (60%) $33,600 $38,400 $43,200 $48,000 $51,840 $55,680 $59,520 $63,360

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

Old Hickory Towers 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 Old Hickory Towers 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.

Old Hickory Towers is managed by Freeman Webb.

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