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Island Terrace Apartments

821 High School Rd NE, Bainbridge Island, Washington 98110

This forty-eight unit apartment consists of 12 one-bedroom and 36 two-bedroom apartments. Recently acquired and remodeled by HRB, Island Terrace is also home to the new Community Garden.

Contact Island Terrace Apartments

Message Island Terrace Apartments

Island Terrace Apartments Details

  • 48 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

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.

Bainbridge Island 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 Bainbridge Island but actual income limits may differ for units at Island Terrace 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

Island Terrace Apartments is managed by Guardian Real Estate Services.

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