Music City Place
50 N. 8th St. , Richmond, Indiana 47374
Contact Music City Place
Music City Place is managed by Flaherty & Collins.
Feel the charm and nostalgia of yesterday while living in the historic gem that is Music City Place in the historic Depot District of downtown Richmond, Indiana. Named for the areas roots in early recordings of jazz and recording studio, today Music City caters to Senior (aged 55+) residents that can enjoy energy efficient units within walking distance from a vibrant Richmond downtown.
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 556 | $240 |
| One Bedroom (1/1) | 551 | $252 |
| Two Bedroom (2/1) | 752 | $436 |
Eligibility for Music City Place
Music City Place Details
- 50 studio, one and two bedroom units.
- $15.00 application fee
- Section 202 Supportive Housing for the Elderly
- Low-Income Housing Tax Credit (LIHTC)
Property Amenities
- Community Room
- Library
- Energy Star Appliances
- 24 Hour Maintenance
Unit Amenities
- Water Trash and Sewer Included
- Spacious floor plans
- Washer and Dryer Included
Nearby Amenities
- Near Bus Line
Office Hours
| Day | Hours |
|---|---|
| Monday | 9:00am-5:00pm |
| Tuesday | 9:00am-5:00pm |
| Wednesday | 9:00am-5:00pm |
| Thursday | 9:00am-5:00pm |
| Friday | 9:00am-5:00pm |
Section 202 Supportive Housing for the Elderly
Since this property was built or renovated using funding from HUD's Section 202 Supportive Housing for the Elderly program, residency is usually restricted to households earning 50% of the Area Median Income (AMI) or less with at least one member age 62 years or older. Tenants pay rent based on household income. This rent is usually the highest of the following three amounts: either 30% adjusted monthly income, or 10% unadjusted monthly income, or, if receiving welfare assistance, the housing costs portion of this assistance.
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.
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