This location has 13 one-bedroom and 13 two-bedroom apartments.  These apartments, completed in 2008, were built by the Town of East Hampton through a cooperative project of the Office of Housing and Community Development and the Housing Authority.  Some of the construction funding came from the Community Housing Opportunity Fund and the remainder from bonds issued by the Authority.

 

The target population for the Springs Fireplace Apartments is the "middle class" who are over income for subsidy programs but find it difficult to maintain affordable, year-round rentals in the open market.  Income eligibility is 80% - 130% of area median income.

 

Tenants do not receive assistance with their rent - this is not a low income property.  Applicants must demonstrate ability to pay for eligibility.  Tenants may not own property.  You must live or work full-time / year-round in the Town of East Hampton to qualify.  Every year residents must re-certify and apartments are inspected annually.

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This property is a workforce housing project.  Approximate annual income to qualify is $50,000 for a 1 BR, $65,000 for a 2 BR, depending on credit & debt profile.

 

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