Ridgecrest Apartments
2570 Woodcliff Drive , Memphis, Tennessee 38127
Ridgecrest Apartments offers 1, 2 and 3 bedroom apartments ranging in size from 542 to 861 sq.ft.
Units
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | - | Call for Price |
| 2 Bedrooms (2/1) | - | Call for Price |
| 3 Bedrooms (3/1) | - | Call for Price |
Ridgecrest Apartments Details
- 256 one, two and three bedroom units.
- Section 8 Project-Based Rental Assistance
- Low-Income Housing Tax Credit (LIHTC)
Property Amenities
- 24hr Emergency Maintenance
Unit Amenities
- Cable Ready
- Carpet
- Refrigerator
Nearby Amenities
- Close to Dining
- Close to Shopping
- Near Schools
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. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.
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.
Memphis 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 Memphis but actual income limits may differ for units at Ridgecrest Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $16,150 | $18,450 | $23,030 | $27,750 | $32,470 | $37,190 | $41,910 | $46,630 |
| 50% | $26,900 | $30,750 | $34,600 | $38,400 | $41,500 | $44,550 | $47,650 | $50,700 |
| 80% | $43,050 | $49,200 | $55,350 | $61,450 | $66,400 | $71,300 | $76,200 | $81,150 |
Memphis 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 Memphis but actual income limits may differ for units at Ridgecrest Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $26,900 | $30,750 | $34,600 | $38,400 | $41,500 | $44,550 | $47,650 | $50,700 |
| Low Income (60%) | $32,280 | $36,900 | $41,520 | $46,080 | $49,800 | $53,460 | $57,180 | $60,840 |
Ridgecrest Apartments is managed by Alco Management Inc..
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