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Stone Gate Apartments

126 Prospect Rd, Maynardville, Tennessee 37807

Stone Gate Apartments, located at 126 Prospect Rd in Maynardville, TN has one and two bedroom apartments. Stone Gate Apartments participates in the Section 515 Rural Rental Housing and Low-Income Housing Tax Credit (LIHTC) programs.

Units

Unit (Bd/Ba) Ft2 Rent
One Bedroom (1/1) 600 Call for Price
Two Bedroom (2/1) 800 Call for Price

Stone Gate Apartments Details

  • 32 one and two bedroom units.
  • Section 515 Rural Rental Housing
  • Low-Income Housing Tax Credit (LIHTC)

Section 515 Rural Rental Housing

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.

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.

Nearby Low Income Apartment Communities

Cedars Apartments

264 Main Street
Maynardville, Tennessee