3310 S. Loop TX-256, Palestine, TX 75801
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 Bath | 671 - 876 Sq Ft |
This project has been funded and will begin construction soon.
Welcome to a brand-new, beautiful community, designed for adults 55 & over! Each spacious floor plan includes modern amenities you would expect to find in a luxury home, at affordable rental rates: a fully-equipped kitchen with energy-efficient appliances and exceptional closet space. Reserve at Palestine is smoke-free & pet-friendly and will include amazing property features, like the community room!
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 Reserve at Palestine 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
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 671ft2 | Call for Price† |
| Two Bedroom (2/1) | 876ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $25,250 / year | $28,850 / year | $32,450 / year | $36,050 / year |
| 50% AMI for PBRA Units | $25,250 / year | $28,850 / year | $32,450 / year | $36,050 / year |
| 60% AMI for LIHTC Units | $30,300 / year | $34,620 / year | $38,940 / year | $43,260 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Reserve at Palestine have a waiting list?
Reserve at Palestine 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 Reserve at Palestine?
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 Reserve at Palestine?
Reserve at Palestine is managed by Pivotal (formally MVAH Partners) headquartered in West Chester, OH.
In addition to Reserve at Palestine, how many other affordable housing properties (and units) are there in Palestine?
In addition to Reserve at Palestine, we list 13 other affordable properties in Palestine. Learn about these properties here. Our data research shows that there are a total of 723 affordable units in Palestine.
When was the Reserve at Palestine listing last updated?
Reserve at Palestine listing on Affordable Housing Online was last updated on 04/08/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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