Madam CJ Walker Houses

About This Building

Low-Income Housing Tax Credit Apartments at Madam CJ Walker Houses in New York, NY Experience affordable housing at Madam CJ Walker Houses, a Low-Income Housing Tax Credit apartment complex. Supported by LIHTC, these rental apartments are equipped with program rent and income restrictions, providing an excellent option for those seeking budget-friendly housing. LIHTC incentivizes builders and developers to offer affordable housing to individuals with low income. The maximum rent charged is determined based on the Area Median Income (AMI), which might make this apartment unaffordable for some low-income individuals. To determine if it fits your budget, please check the current rental rates. This complex comprises 40 low-income apartments. The program ensures financing for affordable rental housing that is exclusively reserved for individuals with a maximum income of up to $32,280 for an individual or up to $46,080 for a family of four (60% AMI). Thanks to the low-cost financing provided by HDC, the apartments created through this initiative can be rented at affordable rates. Private for-profit and non-profit developers receive loans in the form of first mortgages, financed by the proceeds from the sale of tax-exempt bonds. Additionally, second mortgages funded through HDC's corporate reserves are typically offered at a 1% interest rate. The development also benefits from as-of-right 4% Federal Low-Income Housing Tax Credits obtained through tax-exempt bonds, further enhancing the affordability of these apartments. With the soaring demand for apartments, waiting lists have become the norm these days. Therefore, we encourage you to directly contact Madam CJ Walker Houses at the provided number to inquire about application and qualification processes. Remember, it is important to consider LIHTC units and their availability for rent. For application purposes, all income from adults expected to reside at the apartment must be included and verified. Call for more details regarding the application process. We offer varying apartment options at Madam CJ Walker Houses: - 1 Bedroom Apartments at the location - 2 Bedroom Apartments at the location - 3 Bedroom Apartments at the location