Freedom Commons is a mixed-income community that consists of 1-, 2-, and 3-bedrooms units, 6 of which are fully accessible and adapted for individuals with mobility impairments and 3 of which are adapted for individuals with hearing or vision impairments. Being developed with Norstar Development USA, Freedom Commons received funding from New York State Housing Trust Fund, OTDA Homeless Housing Assistance Programs (HHAP), KeyBank, and Key Community Development Corporation (KCDC) LIHC Equity, and NYSERDA Incentives.
The project is predominately affordable housing for those with incomes at or below 50% of Area Median Income (AMI). Approximately 11 of the units are permanent supportive housing reserved for formerly homeless individuals and/or families who have had some involvement with the justice system and whose income is at or below 30% of AMI.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
One Bedroom (1/1) | - | From $575 |
Two Bedroom (2/1) | - | From $662 |
Three Bedroom (3/1) | - | From $780 |
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 Syracuse but actual income limits may differ for units at Freedom Commons.
AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person |
---|---|---|---|---|---|---|
Very Low Income (50%) | $32,700 | $37,350 | $42,000 | $46,650 | $50,400 | $54,150 |
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.