Villas of West Memphis Phase I & II

141 W Jackson Ave, West Memphis, Arkansas 72301

Contact Villas of West Memphis Phase I & II

The Villas of West Memphis Phase I & II is a gated apartment community for those 55 and over. These senior apartment homes feature amazing amenities in a friendly, community atmosphere located right in the heart of West Memphis. The garden homes feature attractive and spacious one and two-bedroom floor plans suited for your lifestyle and the mid-rise, fully enclosed apartments featured in phase II offer an elevator and controlled access.

The Villas of West Memphis offer worry-free living in a community of your peers providing the space and privacy you desire, with amenities that will delight and entertain you.

Eligibility for Villas of West Memphis Phase I & II

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in West Memphis but actual income limits may differ for units at Villas of West Memphis Phase I & II.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$28,350	$32,400	$36,450	$40,500	$43,750	$47,000	$50,250	$53,500
Low Income (60%)	$34,020	$38,880	$43,740	$48,600	$52,500	$56,400	$60,300	$64,200

Villas of West Memphis Phase I & II Details

5 bedroom units.
Low-Income Housing Tax Credit (LIHTC)
HOME Investment Partnerships Program

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.