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Bright Street Apartments

Bright St, Burlington, Vermont 05201

Bright Street Co-op is Bright Street opened its doors in 2016, making it our newest co-op as well as our largest. Located in Burlington’s historic Old North End, it’s just one block from the bus line and walking distance to a number of shops, cafes, and restaurants. The majority of the apartments are in the main three story building, with five townhome units out front. The property has a beautiful community garden, a community room for co-op meetings and events, laundry rooms (as well as washer-dryer hookups in each unit) and private parking in a covered garage.

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This property is currently under construction.

Bright Street Apartments Details

  • 40 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • HOME Investment Partnerships Program

Property Amenities

  • On-site Laundry

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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

Burlington 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 Burlington but actual income limits may differ for units at Bright Street Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $19,250 $22,000 $24,750 $27,500 $30,680 $35,160 $39,640 $44,120
50% $32,100 $36,700 $41,300 $45,850 $49,550 $53,200 $56,900 $60,550
80% $51,350 $58,700 $66,050 $73,350 $79,250 $85,100 $91,000 $96,850

Burlington 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 Burlington but actual income limits may differ for units at Bright Street Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $32,100 $36,700 $41,300 $45,850 $49,550 $53,200 $56,900 $60,550
Low Income (60%) $38,520 $44,040 $49,560 $55,020 $59,460 $63,840 $68,280 $72,660

Bright Street Apartments is managed by Champlain Housing Trust.

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