Memorial Square Apartments

2295 Main St, Springfield, Massachusetts 01107

Contact Memorial Square Apartments

Memorial Square Apartments is located in the northwest corner of Springfield, Massachusetts in historic Memorial Square. This community of fifty-six, studio, one, two and three bedroom apartment homes is spread among three separate buildings. There is plenty to get you out and about with a choice of recreation offerings including Calhoun and Jaime Ulloa Parks. Shopping, dining, medical facilities and transportation options are also nearby with seven bus lines and quick and easy highway access.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	327	Call for Price
1 Bedroom (1/1)	432	Call for Price
2 Bedroom (2/2)	689	Call for Price
3 Bedroom (3/1)	848	Call for Price

Eligibility for Memorial Square Apartments

Memorial Square Apartments Details

11 studio, one, two and three bedroom units.
HOME Investment Partnerships Program
Low-Income Housing Tax Credit (LIHTC)
Section 8 Project-Based Rental Assistance (PBRA)
State or Local Program

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.

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.

Section 8 Project-Based Rental Assistance (PBRA)

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.