Franklin Cove

8505 FAYWOOD DRIVE, Indianapolis, Indiana 46239

Contact Franklin Cove

"Location, quality and value combined with incredible floorplans and impressive amenities make Franklin Cove the ideal place to call home! Located in the popular Franklin Township School District, Franklin Cove offers a small-town feel while allowing you to enjoy the convenience of living minutes from the heart of Indianapolis via I-74 and I-465. Destinations including Shelbyville, Greensburg and popular Indianapolis shopping, dining, nightlife and the Arts are all less than a 30-minute drive."

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	770	From $750 To $775
Two Bedrooms (2/2)	1068	From $870 To $890
Three Bedrooms (3/2)	1319	From $999 To $1,015

Eligibility for Franklin Cove

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 Indianapolis but actual income limits may differ for units at Franklin Cove.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$33,850	$38,700	$43,550	$48,350	$52,250	$56,100
Low Income (60%)	$40,620	$46,440	$52,260	$58,020	$62,700	$67,320

Franklin Cove Details

100 one, two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Playground
Business Center
Clubhouse
24hr Emergency Maintenance
Laundry Centers
Experienced Management
Swimming pool

Unit Amenities

Washer and Dryer Hookup
Cable & Internet Ready

Office Hours

Day	Hours
Monday	9:00am-6:00pm
Tuesday	9:00am-6:00pm
Wednesday	9:00am-6:00pm
Thursday	9:00am-6:00pm
Friday	9:00am-6:00pm

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.