Sir Walter Apartments

400 Fayetteville St, Raleigh, North Carolina 27601

Contact Sir Walter Apartments

Sir Walter Apartments provides affordable housing for seniors ages 62 and older and is located in downtown Raleigh, NC. This historic building was once called the “Sir Walter Raleigh Hotel” and is downtown Raleigh’s oldest surviving hotel building; constructed between 1923 and 1924. Since then the building has been renovated into apartments for seniors. They offer one bedroom apartments, efficiencies and handicap apartments.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	355	Call for Price
1 Bedroom (1/1)	500	Call for Price
2 Bedroom (2/1)	918	Call for Price

Eligibility for Sir Walter Apartments

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 Raleigh but actual income limits may differ for units at Sir Walter Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
30%	$23,800	$27,200	$30,600	$34,000
50%	$39,700	$45,350	$51,000	$56,650
80%	$63,500	$72,550	$81,600	$90,650

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 Raleigh but actual income limits may differ for units at Sir Walter Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$39,700	$45,350	$51,000	$56,650

Sir Walter Apartments Details

161 studio, one and two bedroom units.
Section 8 Project-Based Rental Assistance (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

On-Site Manager
Resident Service Coordinator
On-Site Maintenance
Laundry Facilities

Unit Amenities

Sewer Included
Trash Included
Water Included
Heat and Air

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.