South Terrace Apartments
2616 S. 12 St., Waco, Texas 76706
Contact South Terrace Apartments
South Terrace Apartments is managed by Allied Orion Group.
South Terrace Apartments have designed a community that will fit all of your needs. Ideally located in the heart of Waco, Texas, near the Magnolia Marketplace and Baylor University, with plenty of nearby shopping, dining, and entertainment.
Exciting renovations are underway to fulfill the vision of creating a community that will provide you with all of the convenient features you need, and all of the comfortable and modern touches you’ve been searching for. Upgraded apartment homes will feature new appliances, countertops, cabinetry, flooring, and fixtures. Newly renovated community amenities will include a fitness center, cyber cafe, and indoor and outdoor recreation areas. This is a pet friendly community, so be sure to bring your furry friends along!
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | - | Call for Price |
| Two Bedroom (2/1) | - | Call for Price |
| Three Bedroom (3/1.5) | - | Call for Price |
| Four Bedroom (4/2) | - | Call for Price |
Waiting List is Closed
Some units at this property are available through Waco Housing Authority and Affiliates's South Terrace Apartments, Rental Assistance Demonstration (RAD) Waiting List. Learn about this waiting list here.Eligibility for South Terrace 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 Waco but actual income limits may differ for units at South Terrace Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| 30% | $15,550 | $19,720 | $24,860 | $30,000 | $35,140 | $40,280 | $45,420 | $48,850 |
| 50% | $25,900 | $29,600 | $33,300 | $37,000 | $40,000 | $42,950 | $45,900 | $48,850 |
| 80% | $41,450 | $47,400 | $53,300 | $59,200 | $63,950 | $68,700 | $73,450 | $78,150 |
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 Waco but actual income limits may differ for units at South Terrace Apartments.
| AMI Band | 1 Person | 2 Person | 3 Person | 4 Person | 5 Person | 6 Person | 7 Person | 8 Person |
|---|---|---|---|---|---|---|---|---|
| Very Low Income (50%) | $25,900 | $29,600 | $33,300 | $37,000 | $40,000 | $42,950 | $45,900 | $48,850 |
| Low Income (60%) | $31,080 | $35,520 | $39,960 | $44,400 | $48,000 | $51,540 | $55,080 | $58,620 |
South Terrace Apartments Details
- 248 one, two, three and four bedroom units.
- Low-Income Housing Tax Credit (LIHTC)
- Rental Assistance Demonstration (RAD)
Property Amenities
- Fitness Center
- Community Room
- Computer Room
- Laundry Facility
- Wheel Chair Accessible
Unit Amenities
- Air Conditioning
- Ceiling Fan(s)
- Dishwasher
- Washer and Dryer Hookup
- Cable & Internet Ready
- New Appliances
Office Hours
| Day | Hours |
|---|---|
| Monday | 8:30am-5:30pm |
| Tuesday | 8:30am-5:30pm |
| Wednesday | 8:30am-5:30pm |
| Thursday | 8:30am-5:30pm |
| Friday | 8:30am-5:30pm |
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.
Rental Assistance Demonstration (RAD)
Since this property is subsidized in part through the Rental Assistance Demonstration (RAD), some apartments may have Section 8 Project-Based Rental Assistance (PBRA) or Section 8 Project-Based Vouchers (PBV). With either type of subsidy, tenant rent payments are 30% of their adjusted monthly income. Households earning less than 80% of the area median income may qualify for PBRA or PBV reduced rents. Some of these subsidized apartments may be reserved for extremely low-income households earning less than 30% of the area median income. If the apartment has a PBV, the tenant may qualify for a Section 8 Housing Choice Voucher (HCV) after living there at least one year. Some rental units in this property may not have PBRA or PBV subsidies and therefore may have higher rents.
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