Magnolia Terrace

840 N Theobald St, Greenville, Mississippi 38701

Magnolia Terrace is an apartment community for seniors ages 62+ and offers one bedroom apartment. Each self-contained apartment includes living/dining area, full kitchen, bedroom and bath. There are also a select number of units designed for adults that are mobility impaired. Magnolia Terrace is a smoke-free building and is located close to restaurants, grocery stores, department stores for shopping and major banks. Residents relax and enjoy the screened patio with rocking chairs.

Eligibility for Magnolia Terrace

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Greenville but actual income limits may differ for units at Magnolia Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$14,580	$19,720	$24,860	$30,000	$33,600	$36,100	$38,600	$41,100
50%	$21,800	$24,900	$28,000	$31,100	$33,600	$36,100	$38,600	$41,100
80%	$34,850	$39,800	$44,800	$49,750	$53,750	$57,750	$61,700	$65,700

Magnolia Terrace Details

40 bedroom units.
Mid Rise
Section 202 Supportive Housing for the Elderly
Section 221 (d) (3)

Property Amenities

Elevator
Picnic Area

Unit Amenities

Individual heating and cooling systems

Office Hours

Day	Hours
Monday	7:30am-4:00pm
Tuesday	7:30am-4:00pm
Wednesday	7:30am-4:00pm
Thursday	7:30am-4:00pm
Friday	7:30am-4:00pm

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.