HOME Investment Partnership Funded One Bedroom Units

(NOTE: These terms apply only to The Miller House at 2017-2019 W. 17th , 2423 W. 13th St and 2310 Daisy Bates - all other units are conventionally financed and the HUD maximum income, no student and other restrictions do not apply)

We were pleased to be selected by the City of Little Rock as a recipient of $200,000 in HOME Funds.  This, plus over $100,000 in certified historic rehabilitation tax credits and more than a little of our own money have created eight delightful one bedroom, affordable housing units in two duplexes and a fourplex home in the Central High Historic District.  The units must be rented to people who meet income requirements, and rents are capped.  Income limits are updated annually.  2019 limits are $24,400 for a single person and $27,850 for two people in the smaller apartments.  The limits are $29,280 for a single person and $33,420 for two people in the larger units.
To see the floor plans and some pictures of the buildings, please look at the tab for the address you are interested in.  All houses were unsafe and vacant, and were completely redone.  All have off street parking, new everything inside and comfortable outside living areas.  Six units have their own fenced in back yards.  Four have large rear decks.  They will be kept as affordable housing until January 2021 for 13th St, April 2021 for Daisy Bates and January 2022 for The Miller House.  Full time students are not permitted as sole resident.  Tenants in HOME funded units have substantially greater tenant protections than other tenants in Arkansas.  The Owner cannot raise rents, except as permitted by the Government; tenants can only be terminated from their leases for cause; and the owner is required to manage the properties well, and financially prudently.
The owner pays for water, sewer and trash charges.  Tenants pay all other charges and are responsible for their own gardens.  The units are all electric, with new heat pumps.  They are well insulated, and all windows have storm windows.  Between units is insulated with batting and with soundboard to keep down noise from neighbors.  All the apartments have very comfortable layouts, and all are perfect for either one person or a couple.  All come with dishwashers, ranges, refrigerators, hookups for a stacked washer dryer, new kitchens with attractive dark wood cabinets, tiled baths, and many extras.  Stacked washer dryers can be rented for an additional $25 per month.  Were it not for the generosity of the HOME funds subsidies, units this nice would never be available at these prices. The owner is obligated to rent units on a "first come, first serve" basis pursuant to an affirmative marketing plan and written tenant selection policy.  If you are interested, please don't wait. Start the application process right away!