Bel Franklin Apartments

225 N. Division Street, Spokane, Washington 99202

Bel Franklin Apartments, located at 225 N. Division Street in Spokane, has studio and one bedroom apartments. Bel Franklin Apartments participates in the Section 42 Low-Income Housing Tax Credit (LIHTC) program.

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Units

Unit (Bd/Ba) Ft2 Rent
Studio (Studio/1) - From $308 To $667
One Bedroom (1/1) - From $308 To $667

Bel Franklin Apartments Details

  • 36 studio and one bedroom units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Controlled Access
  • Elevator

Unit Amenities

  • New Appliances

About Bel Franklin Apartments

Total renovation completed Spring 2009 including all new electric, plumbing, heat/cool pumps, windows, insulation, bamboo laminate floors. Three floors over commercial main floor, served by new elevator. Many units have great views and all tenants have access to the roof top deck. Originally built in 1912, period details have been preserved. Bright, cheery studio and 1 bedroom units with all appliances included. Well equipped laundry room on site. Centrally located on Division and Spokane Falls Blvd, across the street from the new convention center and Riverfront Park.

Section 42 Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, monthly rent cannot exceed the Tax Credit maximum rent for the area. Households earning less than 60% of the area median income qualify for units with reduced rent. Some rental units in this property may not be subject to LIHTC and therefore may be set at levels higher than the area's LIHTC limits.

Spokane Low Income Housing Tax Credit Income Qualifications

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
50% $22,850 $26,100 $29,350 $32,600 $35,250 $37,850 $40,450 $43,050
60% $27,420 $31,320 $35,220 $39,120 $42,300 $45,420 $48,540 $51,660

Bel Franklin Apartments was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program. In addition to providing apartments for low-income households, this property could include some market rate units. Households earning 60% or less of the Area Median Income (AMI) qualify for targeted rental units in LIHTC financed housing. This property may also designate units for renters with even lower incomes, from 60% of AMI down to 30% AMI. It is even possible that all units have been set aside for those with extremely low incomes (as low as 15% of AMI). This means that the same size unit can rent for different amounts based on the income of the renter.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Bel Franklin Apartments is managed by Spokane Housing Ventures (SHV).

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