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Neighborhood Summary:

# of Units: 74

Density: 18 UPA

 Type: 1-, 2-, & 3-bd Apartments

 Occupancy: Renter Occupied 
AMI Target: Must average 83.75% AMI
Neighborhood Amenities: Trails, Public Transit, Garages for Rent, Playground
Construction Complete:  1996

Restriction Summary:

Income Limits: 50%-100% AMI

Property: Cannot own other property

Rent: No Short Term Rental Allowed.  

Master Lease:  Not Allowed

The land that Pinewood 1 was developed on is under a land lease between the Town and the developer who utilized LIHTC and currently manages the project.  After 50 years, the land will be returned to the Town.  This project received approximately $350,000 in PIF and planning fee waivers.  When units become available, applicants from the wait-list who meet the income criteria are selected.  The property is currently operated by Corum Real Estate Group.

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