Malden Arms - Mercy Housing

About This Building

Title: Affordable Housing in Chicago: Introducing Malden Arms Section 1: About Malden Arms Located in Chicago, IL, Malden Arms is an apartment complex that falls under the Low-Income Housing Tax Credit (LIHTC) program. These rental apartments offer an affordable housing option supported by the LIHTC, which places rent and income restrictions on eligible individuals. Section 2: Creating Affordable Housing The LIHTC program grants incentives to builders and developers, encouraging the provision of affordable housing for low-income individuals. The maximum rent charged is determined by the Area Median Income (AMI). However, bear in mind that the AMI might still render this apartment unaffordable for some low-income individuals. It is crucial to check the current rental rates to assess affordability. Section 3: Size and Availability Malden Arms comprises 83 apartments specifically designed for low-income individuals. These apartments range from one-bedroom units, catering to various household sizes and needs. Section 4: Application and Contact Information Given the high demand for affordable housing, waiting lists are commonplace. To explore the possibility of residing in Malden Arms, we recommend reaching out to them directly via the provided contact number. Familiarizing yourself with the Low-Income Tax Credit (LIHTC) units available for rent can also prove beneficial in determining eligibility. Section 5: Income Verification Requirements Applicants must include and verify the income of all adults intending to reside at the apartment during the application process. For more in-depth information regarding income requirements, kindly contact the management. Section 6: Office Hours Malden Arms operates Monday through Friday, from 8:30 am to 5:30 pm. Should you have any inquiries or require further assistance, their office staff will be readily available to address your concerns.