Riversrun Apartments
515 Streeter Ave, Allegan, Michigan 49010
Contact Riversrun Apartments
Riversrun Apartments is managed by Red Oak Management.
Riversrun Apartments offers affordable rent in an Excellent Location with easy access to 222 and M-89. Heat, Water and Trash Removal are INCLUDED in the rent as are lawn care, snow removal and all maintenance needs including 24 hour emergency maintenance! There are convenient laundry facilities on site. Mailboxes inside, there is a lovely community room and the other residents are friendly. They have their own off-street, well-lit and maintained parking lot. The complex is all on one level to better serve those 62 and older or disabled of any age. The Site Manager for Riversrun Apartments lives locally, is on site frequently and keeps regular office hours.
Waiting List is Open Now
The Riversrun Apartments waiting list is currently open until further notice
Last updated on May 21st, 2019Eligibility for Riversrun Apartments
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 Allegan but actual income limits may differ for units at Riversrun Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $30,700 | $35,100 | $39,500 | $43,850 | $47,400 | $50,900 | $54,400 | $57,900 |
| Low Income (60%) | $36,840 | $42,120 | $47,400 | $52,620 | $56,880 | $61,080 | $65,280 | $69,480 |
Riversrun Apartments Details
- 32 bedroom units.
- Low-Income Housing Tax Credit (LIHTC)
- Section 521 USDA Rental Assistance
- Section 515 Rural Rental Housing
Property Amenities
- Community Room
- 24hr Emergency Maintenance
- Off-Street Parking
- On-Site Parking
- Snow Removal
- On-Site Maintenance
- Lawn Care
- Heat Included
- On-Site Laundry
Unit Amenities
- Trash Included
- Water Included
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 521 USDA Rental Assistance
The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.
Section 515 Rural Rental Housing
This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.
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