Craven Terrace

601 Roundtree Street, New Bern, North Carolina 28562

Contact Craven Terrace

Craven Terrace, located in historic New Bern, features one, two, three and four bedroom apartments and townhomes. The property will undergo major renovations starting in early 2016, which will include each apartment having a completely new interior, a new community center with a computer lab and a state of the art laundry facility. The cost of heat, hot water and electricity is included in the monthly rent. The community is located in close proximity to schools, banking, medical facilities and entertainment.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
2 Bedroom (2/1)	-	Call for Price
3 Bedroom (3/1)	-	Call for Price
4 Bedroom (4/1.5)	-	Call for Price

Eligibility for Craven Terrace

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 New Bern but actual income limits may differ for units at Craven Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
30%	$15,900	$19,720	$24,860	$30,000	$35,140	$40,280	$45,420	$49,850
50%	$26,450	$30,200	$34,000	$37,750	$40,800	$43,800	$46,850	$49,850
80%	$42,300	$48,350	$54,400	$60,400	$65,250	$70,100	$74,900	$79,750

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 New Bern but actual income limits may differ for units at Craven Terrace.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$26,450	$30,200	$34,000	$37,750	$40,800	$43,800	$46,850	$49,850

Craven Terrace Details

361 one, two, three and four bedroom units.
Public Housing
Low-Income Housing Tax Credit (LIHTC)
Section 8 Project-Based Rental Assistance (PBRA)

Property Amenities

Computer Lab
On-Site Manager
24hr Emergency Maintenance
On-Site Parking
Energy Star Appliances
Landscaping
Laundry Facility

Unit Amenities

Trash Included
Heat and Hot Water Included

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

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.

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.