The Promenade Apartments

3 S. Federal St., Saratoga Springs, New York 12866

Contact The Promenade Apartments

Located in downtown Saratoga Springs, the Promenade Apartments is an affordable housing community for moderate and low-income workers. Developed by Norstar Development USA, L.P. and the Saratoga Springs Housing Authority, this four-building complex includes a 4-story 41-unit apartment building and three 2-story townhouse-style buildings with an additional 22 units. Throughout the buildings are 1- to 3-bedroom apartments that feature EnergyStar appliances and secured entry. Other amenities include a community room, laundry facilities, bike storage, a fitness room, and an outdoor playground. 10 units in this project are reserved for homeless veterans who are eligible to receive supportive services from the Veterans & Community Housing Coalition.

Unit (Bd/Ba)	Ft²	Rent
One Bedroom (1/1)	759	From $340 To $1,090
Two Bedroom (2/1)	995	From $399 To $1,312
Three Bedroom (3/1)	1348	From $453 To $1,522

Eligibility for The Promenade 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 Saratoga Springs but actual income limits may differ for units at The Promenade Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
Very Low Income (50%)	$39,300	$44,900	$50,500	$56,100	$60,600	$65,100
Low Income (60%)	$47,160	$53,880	$60,600	$67,320	$72,720	$78,120

The Promenade Apartments Details

63 one, two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

Fitness Center
Playground
Community Room
Off-Street Parking
Bicycle Storage
Energy Star Appliances
Laundry Facilities

Unit Amenities

Trash 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.