Terrace Gardens Apartments is managed by The Michaels Organization.
Terrace Gardens is an affordable apartment community conveniently located near shopping, dining, and entertainment. Our community features 1 to 3 bedroom floor plans, with modern kitchens, individual climate control and much more! There is also a community room, laundry facility and playground to help keep a more close knit relationship between our residents.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
1 Bedroom (Flat) (1/1) | 500 | Call for Price |
1 Bedroom (2 story) (1/1) | 500 | Call for Price |
2 Bedroom (Flat) (2/1) | 600 | Call for Price |
2 Bedroom (2 Story) (2/1) | 600 | Call for Price |
3 Bedroom (3/1) | 700 | 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 a HUD rental assistance program in Greenwood but actual income limits may differ for units at Terrace Gardens Apartments.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
30% | $14,580 | $19,720 | $24,860 | $30,000 | $33,600 | $36,100 |
50% | $21,800 | $24,900 | $28,000 | $31,100 | $33,600 | $36,100 |
80% | $34,850 | $39,800 | $44,800 | $49,750 | $53,750 | $57,750 |
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.
Apartment communities that participate in the Section 236 program are required to ensure that their units are only available to families with incomes at or below 80% of the area median income. Rents at participating communities must be approved by HUD.