The Villas at Paperjack Creek

938 Monette Ave, New Richmond, Wisconsin 54017

The Villas at Paperjack Creek, located at 938 Monette Ave in New Richmond, has one, two and three bedroom apartments. The Villas at Paperjack Creek participates in the Low-Income Housing Tax Credit (LIHTC) and HOME Investment Partnerships Program programs.

Contact The Villas at Paperjack Creek

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Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - From $410 To $735
2 Bedroom (2/1) - From $660 To $805
3 Bedroom (3/1) - From $875 To $935

The Villas at Paperjack Creek Details

  • 44 one, two and three bedroom units.
  • Water and Sewer utilities included in rent
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Playground
  • Community Room
  • Garage
  • Off-Street Parking
  • Laundry Facilities
  • Pet Friendly
  • Wheel Chair Accessible

Unit Amenities

  • Dishwasher
  • Garbage Disposal
  • Cable Ready
  • Patio, Deck Or Balcony
  • Sewer Included
  • Water Included
  • Washer/ Dryer

Nearby Amenities

  • Close to Public Transportation

Office Hours

Day Hours
Monday 12:00pm-5:00pm
Tuesday 10:00am-3:00pm
Wednesday 10:00am-3:00pm
Thursday 12:00pm-5:00pm

About The Villas at Paperjack Creek

The Villas at Paperjack Creek offer 1, 2, and 3 bedroom apartments.  A private entry, garage, and a nice back deck enhance the ease and comfortable feeling of townhome living. This scenic property is located on the end of a cul de sac with quiet open spaces as your back yard. Nestled on the beautiful Paperjack Creek, the Villas have the creek and all nature has to offer just steps away from your back door. Some pets are welcome, but restrictions do apply.

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.

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.

New Richmond 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 New Richmond but actual income limits may differ for units at The Villas at Paperjack Creek.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
Low Income (60%) $42,000 $48,000 $54,000 $60,000 $64,800 $69,600 $74,400 $79,200

The Villas at Paperjack Creek 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.

The Villas at Paperjack Creek is managed by Paramark Real Estate Services.

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