Summit Towers

720 Albany St, Schenectady, New York 12307

Contact Summit Towers

Summit Towers is an affordable apartment community offering studio and 1-bedroom units. Each unit comes equipped with high speed internet access, cable ready, heating, and a kitchen.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	-	Call for Price
One Bedroom (1/1)	-	Call for Price

Eligibility for Summit Towers

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 Schenectady but actual income limits may differ for units at Summit Towers.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person
30%	$23,600	$26,950	$30,300	$33,650	$36,350	$40,280
50%	$39,300	$44,900	$50,500	$56,100	$60,600	$65,100
80%	$62,850	$71,800	$80,800	$89,750	$96,950	$104,150

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 Schenectady but actual income limits may differ for units at Summit Towers.

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

Summit Towers Details

184 studio and one bedroom units.
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

High Speed Internet Access
Heat Included
New and Renovated Apartment Homes

Unit Amenities

Cable Ready
Refrigerator
Oven and Range

Office Hours

Day	Hours
Monday	7:00am-3:00pm
Tuesday	7:00am-3:00pm
Wednesday	7:00am-3:00pm
Thursday	7:00am-3:00pm
Friday	7:00am-3:00pm

Section 8 Project-Based Rental Assistance (PBRA)

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.

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.