203 Beal Parkway, Midland, TX 79703
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Colleen Carter| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 - 2 Baths | 563 - 1,133 Sq Ft |
This property is currently under construction.
Scheduled to open May 2019!
Merritt Monument is an affordable housing complex that offers spacious studio, 1-bedroom, 2-bedroom, and 3-bedroom apartment homes. Each unit features energy efficient stainless-steel appliances, granite countertops, faux wood flooring, carpeted bedrooms, double-paned windows, full-size washer/dryer connections, and a private patio/balcony. Garage and carports are available. Property amenities include a resort-style swimming pool, fitness center, 24-hour community laundry rooms, business center, 24-hour emergency maintenance service, and monthly planned social events and wellness activities. The convenient location allows resident to be minutes away from Beal Park, Scharbauer Sports Complex/Grande Communications Football Stadium, Midland International Airport as well as a multitude of museums and a variety of dining & shopping options.
Because Merritt Monument participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 563ft2 | Call for Price† |
| One Bedroom (1/1) | 662ft2 | Call for Price† |
| Two Bedroom Two Bath (2/2) | 1000ft2 | Call for Price† |
| Two Bedroom One Bath (2/1) | 856ft2 | Call for Price† |
| Three Bedroom (3/2) | 1133ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $34,550 / year | $39,500 / year | $44,450 / year | $49,350 / year | $53,300 / year | $57,250 / year |
| 50% AMI for PBRA Units | $34,550 / year | $39,500 / year | $44,450 / year | $49,350 / year | $53,300 / year | $57,250 / year |
| 60% AMI for LIHTC Units | $41,460 / year | $47,400 / year | $53,340 / year | $59,220 / year | $63,960 / year | $68,700 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Merritt Monument have a waiting list?
Merritt Monument 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 Merritt Monument?
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 Merritt Monument?
Merritt Monument is managed by Merritt Communities, LLC
In addition to Merritt Monument, how many other affordable housing properties (and units) are there in Midland?
In addition to Merritt Monument, we list 47 other affordable properties in Midland. Learn about these properties here. Our data research shows that there are a total of 2404 affordable units in Midland.
When was the Merritt Monument listing last updated?
Merritt Monument listing on Affordable Housing Online was last updated on 11/21/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
1509 Wayside Dr, Midland, Texas 79701
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