20% One Bedroom Apartments designated for 80% AMI
Arboretum West will offer one bedroom apartments to households that are earning approximately 80% of the Area Median Income (AMI) based on HUD guidelines for the Wilmington NC Metro Area for a period of 10 years. Current 2019 AMI income ranges from $40,800 to $52,450 and will be adjusted annually for the Wilmington area. A standard residential lease agreement will be utilized for all Arboretum West residents. Residents renting under this program will be required to reverify their income annually. If there is no availability, applicants will be able to go on our wait-list for the next available affordable apartment.
The process for prospective residents to apply for AMI unit includes:
Please contact us for additional details or to start the application process.
- A credit application and credit/criminal screening with a $50 fee per adult
- Income verification
- Upon approval the household will pay a $300 security deposit
- Conditional applications will pay a security deposit equal to one month’s rent
- A standard one year lease will be executed for residency with a provision indicating that income will be re-evaluated for AMI compliance 90 days prior to lease end
- Monthly Rent Includes Water, Sewer, Trash, and Electric