Fairgate is managed by Charter Oak Communities.
Fairgate is a recently built, mixed-income community located in the heart of Stamford’s historic West Side. This beautiful family community consists of 90 garden style apartments with one, two and three bedrooms, a mixture of market rate and affordable units. All apartments feature private front and rear entrances.
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 Stamford but actual income limits may differ for units at Fairgate.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
30% | $28,850 | $32,950 | $37,050 | $41,150 | $44,450 | $47,750 | $51,050 | $54,350 |
50% | $48,050 | $54,900 | $61,750 | $68,600 | $74,100 | $79,600 | $85,100 | $90,600 |
80% | $66,700 | $76,200 | $85,750 | $95,250 | $102,900 | $110,500 | $118,150 | $125,750 |
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 Stamford but actual income limits may differ for units at Fairgate.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
---|---|---|---|---|---|---|---|---|
Very Low Income (50%) | $48,050 | $54,900 | $61,750 | $68,600 | $74,100 | $79,600 | $85,100 | $90,600 |
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.
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.
Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.