Presidential Arms Apartments is managed by Community Housing Development Association.
Presidential Arms Apartments consist of 33 units located in Englewood near Swedish Hospital. Five-story elevator building with studio, one- and two-bedroom units originally built in 1964. Residents include primarily individuals, small families and seniors, including residents with special needs. Rents are restricted at 60% AMI and below. Private landscaped courtyard area.
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 Englewood but actual income limits may differ for units at Presidential Arms Apartments.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $43,450 | $49,650 | $55,850 | $62,050 | $67,050 | $72,000 | $76,950 | $81,950 |
Low Income (60%) | $52,140 | $59,580 | $67,020 | $74,460 | $80,460 | $86,400 | $92,340 | $98,340 |
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.