Melton Center Apartments
Check out this page periodically as we will provide updates.
We are excited to be working on a new development in West Chester, PA. We are targeting groundbreaking on the land in Summer 2020 with residents moving in Summer of 2021.
There will be 2 buildings. The first building will be 10 townhouses and the second building will contain 41 apartments.
Some of the apartments will be handicap accessible.
Parking will be provided for the apartments and the townhouses will have garages.
Frequently asked questions
When will units be available?
We expect construction to start in August 2020 and construction to be complete August 2021.
Can I add my name to the waitlist?
Not at this time. The waitlist will begin 120 days before the units are ready to be occupied.
What is included in my rent?
Water, sewer, and trash are included in the rent.
Who will manage the property?
The management company will be St. Peter's Management which is a subsidiary of Church Housing Corp. and an approved Tax Credit management company.
Questions on Tax Credit
What does the term Tax Credit mean?
The IRS established the Tax Credit program in 1987. Sometimes, it is called Low-Income Housing Tax Credit or LIHTC. In Pennsylvania, the Tax Credit program is coordinated by Pennsylvania Housing Finance Agency (PHFA). PHFA awards tax credits through an annual competitive application process. Once the project is awarded, the developer finds an equity investor who will make an investment to the project in exchange for the tax credits. The equity investor utilizes the tax credit as a reduction to their federal income taxes. Due to the investment, the development has a smaller mortgage which allows St. Peter's Management to offer lower rent than market rents in the area.
Do I get to claim a tax credit?
No. As a tenant in a tax credit property, the benefit you receive comes in the form of lower rent.
Will I need to sign a special lease?
No, the tax credit program doesn't require the tenants to sign a special lease. But the Melton Center Apartments will have a lease addendum with clauses specific to the tax credit program. For example, there will be a clause requiring the tenant to cooperate with St. Peter's Management in recertifying and verifying the tenant's income each year. In addition, there will be language saying that if St. Peter's Management learns that the tenant knowingly gave false or incomplete income information when determining eligibility, this could be grounds for terminating the lease.
Can I rent on a month-to-month basis?
When the tenant signs the lease for a unit at a tax credit property, it must be for at least one year. After the initial year, the lease can be renewed on a month-to-month basis.
Is the rent based on my income?
No. Tax credit rent is based on the average income in the county or other local areas. This average is known as the Area Median Gross Income (AGMI), which HUD updates annually. Your actual income matters when it comes to determining if you qualify for a unit at a tax credit property.
Will St. Peter's Management verify income?
Yes. The tax credit program requires St. Peter's Management to verify income and assets.
How is my rent calculated?
The rent is calculated based on the number of bedrooms in the unit, and not the actual number of people who live there. St. Peter's Management must calculate the rent assuming that 1.5 occupants live in each bedroom.
Does the number of people in my household affect eligibility?
Yes. The number of people in your household affects if you qualify for a unit at a tax credit property. The household must earn less than a certain percentage of Area Median Gross Income (AMGI), which is based on household size.
As a student, can I live at a tax credit property?
The general rule is that if everyone in your household is a full-time student, then you can't rent at a tax credit property.
Must tax credit properties comply with discrimination laws?
Yes, tax credit properties are subject to the same fair housing laws as conventional properties.
Questions about the Building
Are pets allowed?
Yes, one domestic pet that weighs 40 lbs or less.
Are there handicap accessible units?
Yes, we have designed units to accomodate persons needing features of a handicap accessible unit.
Is there a pet fee?
Yes, there is a one time refundable security deposit.
How many bedrooms do your units have?
The townhomes are 3 and 4 bedrooms and the apartments are 1 and 2 bedrooms.
Can I choose my unit?
No, your unit will be assigned based on availability.