Income Restricted Housing

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supastudio
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Income Restricted Housing

Post by supastudio »

Does anyone have a list of income restricted apartments? Also, what does it mean if its a 50% or 60% program, for example: the professional building lofts has this on their website. I'm wanting to live downtown or close to it and wanted to get some input on income restricted housing.
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Beermo
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Re: Income Restricted Housing

Post by Beermo »

i know 3 places where friends live. cold storage, that place on 11th and grand (pro building?) and the star lofts on 17th and oak.

i drive by the star lofts all the time and i often see kids outside on the sidewalk playing. i want to know where all the playgrounds are at?
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dangerboy
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Re: Income Restricted Housing

Post by dangerboy »

I believe the percents you mention relate to the city's median income.  So you make 50% of the city's median income you pay a certain rent, and a different rent if you make 60% of median, etc.

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Re: Income Restricted Housing

Post by shaffe »

professional building and cold storage i know fall under section 42 housing.  section 42 is bacily a tax credit given to the property assuming they rent out their units to people who meet certian guidelines.  if you do some googling around you can find lots of information about the section 42 low income tax credit program.

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Re: Income Restricted Housing

Post by loftguy »

supastudio wrote: Does anyone have a list of income restricted apartments? Also, what does it mean if its a 50% or 60% program, for example: the professional building lofts has this on their website. I'm wanting to live downtown or close to it and wanted to get some input on income restricted housing.
The low to moderate income adjusted lofts are an incredible value.  It equates to a 25-40% discount on rent for those who qualify.  Your reported income for 2007 would need to be approx. $29,500, or less, for a single person. 

About 1/3 of the housing in the River Market is in this program, then there are others in the CBD and Crossroads.  It is great how it seems to generally integrate invisibly with market rate housing.

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Re: Income Restricted Housing

Post by kansaschity »

I have a question reqarding the income restricted housing and a few places i've looked at. Of the three, which would you recomend? waltower, hanover, or cold storage? Is there others that are more worthy for the price range?

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Tosspot
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Re: Income Restricted Housing

Post by Tosspot »

Waltower? As in Wall Street Tower? I don't believe that is income restricted. Damn I wish it was though.

Professional Building a block east is, however.


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Gretz
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Re: Income Restricted Housing

Post by Gretz »

Walltower is not the same thing as the Wall street tower condo building.  Wall tower is a couple of blocks north on Walnut street, I'm thinking above Scooters or maybe a block south of it.  Other Section 42 that I know of includes the 17th and Oak Star lofts, Quality Hill (old school QH, not the part that has gone condo).  I think there is quite a bit of other stuff here and there too.  Good friend lives at Star lofts and likes it very much.

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Re: Income Restricted Housing

Post by Tosspot »

Ah, had not heard of Walltower before.

Can't be above Scooter's though because Scooter's is at the base of the Professional Bldg. Unless there's more than one Scooter's downtown now and I don't get out of midtown often enough...  :)
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Re: Income Restricted Housing

Post by Gretz »

Scooters is on Walnut on NE corner of 9th or 10th & Walnut.  The professional building, on Grand, has Jimmy Johns, a salon and used to have Perk Up, but they closed.

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Re: Income Restricted Housing

Post by Tosspot »

Ah... I'm all confused. Remembering now.
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Re: Income Restricted Housing

Post by Gretz »

Tosspot wrote: Ah... I'm all confused. Remembering now.
God damn it, Tosspot.  Get your head in the game!

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Re: Income Restricted Housing

Post by loftguy »

There are several income guideline loft buildings in the RiverMarket handled by Embassy Properties.  They office out of the Richards and Conover building 200 W. 5th (corner of Wyandotte). Generally positive buzz about their product and management.

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Re: Income Restricted Housing

Post by KCS2K »

I am in the market for a new place and have to plead ignorance to this. Is this something that typically one has to inquire about? Or are places that offer this forthcoming with the information?

I ask as I currently pay market rate at the Library Lofts and they are wanting to raise my rate pretty substantially going into my next lease, thus why I am looking.

Looks like I have some google research to do when I get home tonight.

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Re: Income Restricted Housing

Post by shaffe »

They are usually very forthcoming.  Most places can't lease to you if you make too much, so it's really in their best interests to let you know up front to avoid wasting time.

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Re: Income Restricted Housing

Post by geeman68 »

Check out the Cold Storage lofts in the Rivermarket. I know some people that say its a decent place. 

KC_Hams

Re: Income Restricted Housing

Post by KC_Hams »

geeman68 wrote: Check out the Cold Storage lofts in the Rivermarket. I know some people that say its a decent place. 
If you can stand the nasty odor that crosses over the river from a business in NKC...

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Re: Income Restricted Housing

Post by taxi »

KC_Hams wrote: If you can stand the nasty odor that crosses over the river from a business in NKC...
Most of that smell comes from National Starch and Chemical Company's waste water treatment facility. They are in the process of upgrading and converting their treatment process and theoretically, when they have completed that by mid-summer, it should no longer smell.

I, for one, am keeping an eye on them and also keeping my fingers crossed.
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