31701 Pete Von Reichbauer Way S., Federal Way, WA 98003
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,171 - 1,561 per Month† | Studio - 2 Beds | 1 Bath | 468 - 828 Sq Ft |
Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.
Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.
Active Adult living never looked this good! And the affordable rents are just the beginning. Traditions at Federal Way is a 55+ active community that will amaze you with its style, modern design, ample community amenities, and spacious floorplans. Conveniently located near I-5 and Pacific HWY S, Traditions at Federal Way is surrounded by shopping, dining, and area amenities. Their apartment homes feature black appliances, wood-inspired flooring and cabinetry, fully equipped kitchens, and washer and dryers. Best of all, some homes come with stunning views! You will love your new home at Traditions.
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 Traditions at Federal Way 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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 |
|---|---|---|
| Studio (Studio/1) | 468ft2 | $1,326† |
| One Bedroom (1/1) | 584ft2 | $1,171† |
| Two Bedroom (2/1) | 828ft2 | $1,561† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year |
| 50% AMI for PBRA Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year |
| 60% AMI for LIHTC Units | $57,540 / year | $65,760 / year | $73,980 / year | $82,200 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Traditions at Federal Way have a waiting list?
Traditions at Federal Way 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 Traditions at Federal Way?
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 Traditions at Federal Way?
Traditions at Federal Way is managed by FPI Management, Inc. headquartered in Folsom, California.
In addition to Traditions at Federal Way, how many other affordable housing properties (and units) are there in Federal Way?
In addition to Traditions at Federal Way, we list 31 other affordable properties in Federal Way. Learn about these properties here. Our data research shows that there are a total of 2479 affordable units in Federal Way.
When was the Traditions at Federal Way listing last updated?
Traditions at Federal Way listing on Affordable Housing Online was last updated on 01/01/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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Housing options for families with immigrants.
If the head of household is a citizen or eligible immigrant, you can still qualify for HUD programs with a citizenship requirement.Belinda Hewitt says:
"With the information from Affordable Housing Online, I was finally able to apply and get on a waiting list. I see there is still hope, thank you so much!"