Terrace Ridge Apartments

1312 McKaig Ave, Troy, Ohio 45373

Contact Terrace Ridge Apartments

Terrace Ridge Apartments is an affordable, senior (62+) community. They offer bedroom floor plans. Applicants must be 62 years of age or older and/or disabled, or individuals 18 and older with a disability. Contact the property for current availability. Rent is based on income. Waitlist placement and income limit restrictions may apply. Amenities and features: appliances included, community room, laundry facility, and more! Applicants should bring the following documentation: original birth certificate(s), original social security card(s), current government issued photo I.D.(s) for anyone 18 years of age or older, proof of income/pay stubs. Equal Housing Opportunity.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	350	Income Based
1 Bedroom (1/1)	500	Income Based
2 Bedroom (2/1)	625	Income Based
2 Bedroom - Large (2/1)	674	Income Based

Eligibility for Terrace Ridge 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 Troy but actual income limits may differ for units at Terrace Ridge Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
30%	$18,700	$21,400	$24,860	$30,000
50%	$31,150	$35,600	$40,050	$44,500
80%	$49,850	$57,000	$64,100	$71,200

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 Troy but actual income limits may differ for units at Terrace Ridge Apartments.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$31,150	$35,600	$40,050	$44,500
Low Income (60%)	$37,380	$42,720	$48,060	$53,400

Terrace Ridge Apartments Details

168 studio, one and two bedroom units.
Garden
Water and Sewer utilities included in rent
Low-Income Housing Tax Credit (LIHTC)
Section 8 Project-Based Rental Assistance (PBRA)
Section 221 (d) (3)

Property Amenities

Community Room
24hr Emergency Maintenance
Laundry Facility

Unit Amenities

Carpet
Mini Blinds & Curtain Rods

Office Hours

Day	Hours
Monday	9:00am-5:00pm
Tuesday	9:00am-5:00pm
Wednesday	9:00am-5:00pm
Thursday	9:00am-5:00pm
Friday	9:00am-5:00pm

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 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.