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03/07/2018 06:28 AMThose with an annual income between $29,568 and $63,720 but few assets and who have been struggling to find housing they can afford, there may be a new option at Post & Main Apartments at 7 North Main Street. The facility has recently revised its guidelines for those who qualify for its affordable units.
“Right now we have availability for both one- and two-bedroom units” in the Incentive Housing Development Affordable Program, said Post & Main Community Manager Sandra Vescera. “We recently reviewed the formula that we were using to qualify [renters of] these units and found we had been too strict.”
The new maximum annual income for an individual, couple, or family to qualify to rent an affordable unit is higher than it was previously.
Of Post & Main’s 186 apartments, the 20 percent in the affordable incentive housing program are mixed in with the market rate units over the complex’s eight buildings. A Post & Main one-bedroom unit in the program rents at $1,232 per month (market rate units start at $1,575) and a two-bedroom unit at $1,496 per month. For a single person to qualify to rent one of the one-bedroom units, his or her income must be between $29,568 and $63,720. For a family of three to qualify to rent a two-bedroom unit, the household’s annual income needs to be between $35,904 and $76,464.
Individuals, couples, or families interested in leasing an affordable unit would go to the Post & Main office at 7 North Main to fill out an application. Applicants’ income and assets will be verified to ensure they meet the program’s standards before the apartment lease request will be accepted. Affordable apartment tenants pay for the costs of gas and electric, but not for water. Market rate tenants, however, do pay for the costs of their water.
“When we look to qualify someone, we look at whether their income does not exceed the maximum based on the number of occupants,” said Vescera.
All of the apartments in the affordable program have the same finishes of the market-rate apartments: stainless steel appliances, granite counter-tops in kitchen and bathroom, in-unit washers and dryers, natural gas heat, and air conditioning.
Vescera said that at this point, more than 90 percent of Post & Main’s 186 apartments are leased.
“Our [tenants] are a diverse mix of individuals, ages, those who need to use the train to get to work, and those who work locally,” said Vescera. “Some of the folks are those who have sold their homes locally and now want to rent.”
To learn more about Post & Main, call 860-388-8600 or visit www.PostAndMainapts.com or the office at 7 North Main Street.