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Frequently Asked Questions
Affordable Housing DefinitionsProject OverviewConstruction PhaseProject Parking & TransportationDesignProperty ManagementCommunity Engagement
What does affordable housing mean for this development?
This development is 100% affordable housing. This means all apartment homes for rent are reserved for households with lower incomes. Residents must meet the income limit set by the government to qualify as an approved tenant. Rents are also carefully regulated so tenants generally pay no more than 30% of their income on rent. Because the development is financed by public programs, like tax credits, the rents and tenant incomes are monitored routinely to make sure the apartment homes remain affordable for a long time.
How is affordable housing different than market-rate housing?
Affordable housing is regulated by the government, which puts a maximum allowable rent to maintain affordability. Market-rate housing does not have any income restrictions. Rents are set by the area market values and demand of housing.
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