Riverside Terrace Family and Senior
416-462 Fifth Ave., Paterson, New Jersey 07514
Riverside Terrace is a newly rehabilitated affordable apartment community with units for both families and seniors. This community features a basketball court and community building for the family side of the development and a lounge area, outdoor patio, and garden space on the senior side.
Waiting List is Closed
Some units at this property are available through Housing Authority of the City of Paterson's Riverside Terrace Development (5th Ave.), 2-Bedroom Section 8 Project-Based Voucher Waiting List. Learn about this waiting list here.Eligibility for Riverside Terrace Family and Senior
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 Paterson but actual income limits may differ for units at Riverside Terrace Family and Senior.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $27,250 | $31,150 | $35,050 | $38,900 | $42,050 | $45,150 | $48,250 | $51,350 |
| 50% | $45,400 | $51,850 | $58,350 | $64,800 | $70,000 | $75,200 | $80,400 | $85,550 |
| 80% | $66,750 | $76,250 | $85,800 | $95,300 | $102,950 | $110,550 | $118,200 | $125,800 |
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 Paterson but actual income limits may differ for units at Riverside Terrace Family and Senior.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $45,400 | $51,850 | $58,350 | $64,800 | $70,000 | $75,200 | $80,400 | $85,550 |
Riverside Terrace Family and Senior Details
- 273 bedroom units.
- Low-Income Housing Tax Credit (LIHTC)
Property Amenities
- Basketball Court
- Community Room
- Community Garden
- Courtyard
- Resident Lounge
- Play Area
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.
Images of Riverside Terrace Family and Senior
Nearby Low Income Apartment Communities like Riverside Terrace Family and Senior
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