Latham and Magnolia Terrace
669 N 3rd St, Memphis, Tennessee 38126
Contact Latham and Magnolia Terrace
Latham and Magnolia Terrace is managed by Wesley Housing Corporation of Memphis Inc..
Magnolia Terrace is a 3-story building located in downtown Memphis and has 69 one-bedroom apartments.
There is an on-site Care Manager to assist residents in locating available city, county, and state services to meet their needs.
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price |
Waiting List is Closed
Some units at this property are available through Memphis Housing Authority's University Place Southeast Senior Living, Fairway Senior Living and Latham Terrace Senior Apartments, 1 and 2-Bedroom Senior Public Housing Waiting List. Learn about this waiting list here.Waiting List is Closed
Some units at this property are available through Memphis Housing Authority's Magnolia Terrace Senior Apartments, 1-Bedroom Senior Public Housing Waiting List. Learn about this waiting list here.Eligibility for Latham and Magnolia 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 Memphis but actual income limits may differ for units at Latham and Magnolia Terrace.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $17,050 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $50,560 |
| 50% | $28,350 | $32,400 | $36,450 | $40,500 | $43,750 | $47,000 | $50,250 | $53,500 |
| 80% | $45,400 | $51,850 | $58,350 | $64,800 | $70,000 | $75,200 | $80,400 | $85,550 |
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 Memphis but actual income limits may differ for units at Latham and Magnolia Terrace.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $28,350 | $32,400 | $36,450 | $40,500 | $43,750 | $47,000 | $50,250 | $53,500 |
| Low Income (60%) | $34,020 | $38,880 | $43,740 | $48,600 | $52,500 | $56,400 | $60,300 | $64,200 |
Latham and Magnolia Terrace Details
- 69 one bedroom units.
- Low-Income Housing Tax Credit (LIHTC)
- Public Housing
Property Amenities
- Laundry Facility
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.
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.
Nearby Low Income Apartment Communities like Latham and Magnolia Terrace
Patterson Flats
Saints Court Apartments
Memphis Towers
Robinhood Park Apartments
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