Madrona Square consists of one-bedroom, two-bedroom, and three-bedroom units. Approximately 67 units will be dedicated to homeless families with children who are enrolled in the Everett School District. The additional 38 units will be tax-credit units (affordable housing).
Currently under development with a plan of opening in the Summer of 2023, this property is part of the larger Park District that is being developed over the next 10 years. Please check back for updates and more information.
Unit (Bd/Ba) | Ft2 | Rent |
---|---|---|
One Bedroom (1/1) | - | Income Based |
Two Bedroom (2/1) | - | Income Based |
Three Bedroom (3/2) | - | Call for Price |
This property is currently under construction.
Opening summer 2023
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.