Diamond Rock Terrace, Phase Ii Troy

About This Building

Title: Affordable Housing Option in Troy, NY - Diamond Rock Terrace, Phase II Subtitle: Low Income Housing Tax Credit Apartments Section 1: Introduction Diamond Rock Terrace, Phase II in Troy, NY, offers an excellent housing solution for individuals seeking affordable options. These rental apartments are supported by the Low-Income Housing Tax Credit (LIHTC) program, which imposes income and rent restrictions. Section 2: Promoting Affordable Housing The LIHTC program provides incentives to builders and developers to create affordable housing for low-income individuals. To ensure affordability, the maximum rent charged is determined based on the Area Median Income (AMI). However, it is essential to note that the AMI metric may render this apartment unaffordable for some low-income individuals. Section 3: Availability and Application There are a total of 36 low-income apartments available at Diamond Rock Terrace, Phase II. Due to the high demand for affordable housing, it is common for apartments to have waiting lists. To determine if you are eligible and can apply to live here, please contact the management directly using the provided phone number. Section 4: Checking Affordability Before making a decision, it is recommended that you check the current rental rates to ensure they align with your budget. Each person's income, including all adults expected to reside in the apartment, must be included and verified during the application process. For further details, please contact Diamond Rock Terrace, Phase II. Section 5: Two-Bedroom Apartments The available apartments at Diamond Rock Terrace, Phase II consist of two-bedroom units. This layout provides spacious living accommodations for individuals or small families. Conclusion: Diamond Rock Terrace, Phase II offers a promising opportunity for individuals seeking affordable housing options in Troy, NY. Supported by the LIHTC program, these low-income apartments aim to provide an affordable solution while adhering to income and rent restrictions. Contact the management for more information and to inquire about eligibility and application procedures.