380 Villas

820 E. University Dr., Mckinney, TX

Waiting List Forecast: Likely Short or None

check_circleVerified for 2024 by Connor Bailey, Colleen Carter

Rent	Beds	Baths	SqFt
Call for Rents^†	1 - 3 Beds	1 Bath	-

This property is currently under construction.

380 Villas is an upcoming affordable apartment community that will offer 1-, 2-, and 3-bedroom units. This community will offer many residential amenities including a swimming pool, a playground, a clubhouse, and a dog park.

Dave's Thoughts On 380 Villas

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests 380 Villas does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

380 Villas Amenities

Playground
Basketball Court
Clubhouse
Swimming pool
Dog Park

Units at 380 Villas

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	-	Call for Price^†
Two Bedroom (2/1)	-	Call for Price^†
Three Bedroom (3/1)	-	Call for Price^†

Income Qualification for 380 Villas

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people	5 people	6 people
50% AMI for LIHTC Units	$36,100 / year	$41,250 / year	$46,400 / year	$51,550 / year	$55,700 / year	$59,800 / year
50% AMI for PBRA Units	$36,100 / year	$41,250 / year	$46,400 / year	$51,550 / year	$55,700 / year	$59,800 / year
60% AMI for LIHTC Units	$43,320 / year	$49,500 / year	$55,680 / year	$61,860 / year	$66,840 / year	$71,760 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for 380 Villas

Does 380 Villas have a waiting list?

380 Villas probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at 380 Villas?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges 380 Villas?

380 Villas is managed by Sphinx Development headquartered in Dallas, Texas.

In addition to 380 Villas, how many other affordable housing properties (and units) are there in Mckinney?

In addition to 380 Villas, we list 82 other affordable properties in Mckinney. Learn about these properties here. Our data research shows that there are a total of 3609 affordable units in Mckinney.

When was the 380 Villas listing last updated?

380 Villas listing on Affordable Housing Online was last updated on 04/24/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.