Pembroke Square Apartments

8393 Deep Branch Rd, Pembroke, North Carolina 28372

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ABOUT

Pembroke Square was developed and operates with Federal housing financing. The property utilizes 3 Federal housing programs to make rent affordable to lower income tenants. These programs are Low Income Housing Tax Credit, Section 515, and Rural Development Rental Assistance.

The property was constructed using the USDA Rural Development Section 515 Rural Rental Housing Program. The program provides low interest rates with longer amortization periods for rental housing built in rural areas of America. Pembroke Square is among 544† Section 515 projects in North Carolina and 12, 858† Section 515 projects in the United States.

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 515 properties, insures renters only pay 30% of their adjusted income toward rent. 81 apartment units at Pembroke Square receive rental assistance. 96% of the units at Pembroke Square have Rental Assistance. 75% of North Carolina Section 515 units and 65% of Section 515 units across the country are assisted with Rental Assistance.

Pembroke Square Apartments is a property management company located in Pembroke, NC.

Eligibility for Pembroke Square 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 Pembroke but actual income limits may differ for units at Pembroke Square Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$24,250	$27,700	$31,150	$34,600	$37,400	$40,150	$42,950	$45,700
Low Income (60%)	$29,100	$33,240	$37,380	$41,520	$44,880	$48,180	$51,540	$54,840

Pembroke Square Apartments Details

48 bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance

Office Hours

Day	Hours
Monday	8:00am-4:00pm
Tuesday	8:00am-4:00pm
Thursday	8:00am-4:00pm

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 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.