The Terrace is managed by Montgomery Housing Authority.
The Terrace is a newly renovated modern high-rise community for seniors that is adjacent to a serene wooded setting. It is one of the most sought-after senior housing communities in the region. Featuring an elegant contemporary façade and upgraded interior finishes, it provides contemporary living. The 90 total unit building consists of one and two-bedrooms apartments. It boasts great city views and is within walking distance of the farmers market, local banks, downtown Montgomery and access to public transportation at its doorstep.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
1 Bedroom (1/1) | - | Call for Price |
2 Bedroom (2/1) | - | Call for Price |
Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Montgomery but actual income limits may differ for units at The Terrace.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person |
---|---|---|---|---|
30% | $15,650 | $19,720 | $24,860 | $30,000 |
50% | $26,050 | $29,800 | $33,500 | $37,200 |
80% | $41,650 | $47,600 | $53,550 | $59,500 |
Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.