7101 62nd Avenue Northeast, Seattle, WA 98115
Waiting List Forecast: Likely Short or None
Verified for 2020 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,093 - 1,394 per Month† | Studio - 2 Beds | 1 Bath | - |
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.
Brand new studio, 1 and 2 bedroom apartment homes!
Enjoy a bright, modern studio, one-, or two-bedroom apartment home in a beautifully restored Historic Landmark. Mercy Magnuson Place is located in one of Seattle’s largest parks, with access to walking trails, athletics fields, playgrounds, and Lake Washington beaches right in your backyard. Enjoy the best Seattle has to offer at an affordable price!
The community offers open space, playgrounds, sports fields, and access to Lake Washington. It provides 108 affordable, energy efficient apartment homes. Mercy Housing Northwest has restored the former US Naval Barracks at Building 9 in Magnuson Park. The 240,000 sf historic structure was in operation until 1993. Mercy Magnuson Place includes affordable housing, an early learning center and a health clinic.
Mercy Housing Northwest is partnering with local non‐profits to provide excellent onsite services: Neighborcare Health and Denise Louie Education Center.
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 Mercy Magnuson Place- South 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 |
|---|---|---|
| Studio (Studio/1) | - | $1,093† |
| 1 Bedroom (1/1) | - | $1,168† |
| 2 Bedroom (2/1) | - | $1,394† |
| 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 Mercy Magnuson Place- South have a waiting list?
Mercy Magnuson Place- South 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 Mercy Magnuson Place- South?
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 Mercy Magnuson Place- South?
Mercy Magnuson Place- South is managed by Mercy Housing headquartered in Denver, Colorado.
In addition to Mercy Magnuson Place- South, how many other affordable housing properties (and units) are there in Seattle?
In addition to Mercy Magnuson Place- South, we list 392 other affordable properties in Seattle. Learn about these properties here. Our data research shows that there are a total of 29556 affordable units in Seattle.
Applying for housing with bad credit.
Some housing assistance programs require a credit check, including Low-Income Housing Tax Credit apartments. Having bad credit may make you ineligible.Michelle Eans says:
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