Ridgeview Terrace

1500 William Way, Mount Vernon, Washington 98273

Ridgeview Terrace is a friendly senior community with 1 and 2 bedroom apartment homes that will give you that "at home" feeling you're looking for in Mount Vernon, WA! You'll love all the amenities our community boasts: two community rooms and a library, limited access to the community, and laundry facilities on-site. Ridgeview Terrace is within easy walking distance of shopping, dining, and grocery stores. Stop by today and see what makes Ridgeview Terrace a place to call home! Income restrictions may apply.

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 600 Call for Price
2 Bedrooms (2/1) 800 Call for Price

Ridgeview Terrace Details

  • 80 one and two bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)
  • Section 515 Rural Rental Housing
  • HOME Investment Partnerships Program
  • Section 521 USDA Rental Assistance

Property Amenities

  • Community Room
  • Library
  • Secured Entry
  • On-Site Maintenance
  • Laundry Facilities
  • Pet Friendly

Unit Amenities

  • Cable and Satellite TV
  • Stove
  • Fully Equipped Kitchen

Office Hours

Day Hours
Monday 9:00am-3:00pm
Tuesday 9:00am-3:00pm
Wednesday 9:00am-3:00pm
Thursday 9:00am-3:00pm
Friday 9:00am-3:00pm

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

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.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.

Mount Vernon 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 Mount Vernon but actual income limits may differ for units at Ridgeview Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $18,100 $20,700 $23,300 $27,750 $32,470 $37,190 $41,910 $46,630
50% $30,150 $34,450 $38,750 $43,050 $46,500 $49,950 $53,400 $56,850
80% $48,250 $55,150 $62,050 $68,900 $74,450 $79,950 $85,450 $90,950

Mount Vernon 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 Mount Vernon but actual income limits may differ for units at Ridgeview Terrace.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $30,150 $34,450 $38,750 $43,050 $46,500 $49,950 $53,400 $56,850
Low Income (60%) $36,180 $41,340 $46,500 $51,660 $55,800 $59,940 $64,080 $68,220

Ridgeview Terrace is managed by Guardian Real Estate Services.

Image of Ridgeview Terrace
Image of Ridgeview Terrace

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