Stone Ridge Townhomes is an affordable family housing project that operates in accordance with the requirements of the Low Income Housing Tax Credit Program governed under Section 42 of the Internal Revenue Code.
What does this mean for you? -An affordable housing option unlike any other rental housing in the area.
Stone Ridge Townhomes is not a subsidized housing project.
What is the difference? Our rent rates are not based on a percentage of your income. Our rent rates are a fixed percentage of the Washington County median income.
Because we are a low income housing project there are requirements and restrictions that applicants must meet to qualify for tenancy. There are also rules and regulations that tenants must follow to ensure their tenancy as well.
Pre-qualification requirements and restrictions include but are not limited to:
- Income (including earned, unearned and asset income) restrictions based on household size.
- Household must contain one person who is not a full-time student (there are some stipulations allowing such to be the case.)
- Applicant must pass our full background check including credit, criminal and rental history checks.
Some notable rules and regulations required of tenants include but are not limited to:
- No Smoking anywhere on the property
- No Pets (Not even from visitors)
- Clean units and garages (inspected every six months)
- Tenants are required to pay electric and gas. Phone, TV service and internet are optional.
- Tenants sign a six month lease which converts to month to month after.
Stone Ridge Townhomes is a rather new community our units are clean and well kept, our landscape is immaculate and weekly maintained. Stone Ridge Townhomes was built in two phases. Construction of Phase 1 was completed in 2004, and Phase 2 in 2005. We have on-site management, maintenance and landscape personnel. We are frequently complimented on the appearance and up keep of our community.
If you are interested in the possibility of tenancy here at Stone Ridge Townhomes we invite you to come meet our manager, take a look at our grounds or talk to one of our tenants.