Varney Square Apartments is managed by Preservation Management, Inc..
Varney Square Apartments, located in Freeport, Maine, is comprised of one, two and three bedroom apartment homes. The townhouse apartments have two floors of living area, with an abundance of storage space. Each apartment has its own central heating system, controlled by the resident. The community is located just off Main Street in Freeport, and is within walking distance of grocery shopping.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
One Bedroom (1/1) | - | Call for Price |
Two Bedroom (2/1) | - | Call for Price |
Three Bedroom (3/1) | - | Call for Price |
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 Freeport but actual income limits may differ for units at Varney Square Apartments.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
Very Low Income (50%) | $32,550 | $37,200 | $41,850 | $46,450 | $50,200 | $53,900 |
Low Income (60%) | $39,060 | $44,640 | $50,220 | $55,740 | $60,240 | $64,680 |
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.