107 Cherry St, Seattle, WA 98104
Waiting List Forecast: Likely Short or None
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio Bed | 1 Bath | 355 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.
Everything you've wanted in apartment living can be yours at The Lowman Building! Located in a thriving neighborhood on the pulse of Downtown Seattle, WA, our community is a refreshing alternative to in-town living. Spend your weekend exploring one-of-a-kind shops or local eateries within close reach to The Lowman Building and we are also seconds away from Qwest Field and the Aquarium. Generous detail has been placed in each of our studio apartment homes. At The Lowman Building our contemporary floor plans feature fully equipped kitchens, plush wall to wall carpeting, large closets, full size washer and dryer connections and spacious living areas. We understand that home is not truly home without your pets which is why we are happy to welcome them along for the fun! Ask us about our pet policy as some breed and size restrictions may apply. The Lowman Building is one of Seattle's most unique historical buildings and is set against expansive views of Pioneer Square and the waterfront. Residents can take advantage of our on-call maintenance, high speed internet and convenient laundry facilities. Live where you love - live at The Lowman Building. Contact our leasing professionals today to learn more!
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 The Lowman Building 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 355ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year | $74,000 / year | $79,500 / year | $84,950 / year | $90,450 / year |
| 50% AMI for PBRA Units | $47,950 / year | $54,800 / year | $61,650 / year | $68,500 / year | $74,000 / year | $79,500 / year | $84,950 / year | $90,450 / year |
| 60% AMI for LIHTC Units | $57,540 / year | $65,760 / year | $73,980 / year | $82,200 / year | $88,800 / year | $95,400 / year | $101,940 / year | $108,540 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does The Lowman Building have a waiting list?
The Lowman Building 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 The Lowman Building?
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 The Lowman Building?
The Lowman Building is managed by Coast Property Management headquartered in Everett, WA.
In addition to The Lowman Building, how many other affordable housing properties (and units) are there in Seattle?
In addition to The Lowman Building, we list 590 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.
When was the The Lowman Building listing last updated?
The Lowman Building listing on Affordable Housing Online was last updated on 01/03/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.
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