Accessible Space
500 49th Ave N
Minneapolis, Hennepin County, Minnesota 55430

Call (855) 598-3283, enter extension 24067, then hit #.

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Funding Programs

Accessible Space was developed and operates with Federal housing financing. The property utilizes the Section 202 Federal housing program to make rent affordable to lower income tenants.

Section 202

The property was developed with funding through the HUD Section 202 program which provides funding for housing for seniors who are 62 or older. The program provided both capital financing to construct the property and operating subsidies that work as rental assistance like the Section 8 program. Accessible Space is among only 152 Section 202 properties in Minnesota and 6,166 in the country.

Overview

Accessible Space is an affordable apartment community located in Minneapolis, Minnesota which is located in Hennepin County. The property is located in Minnesota's 5th Congressional District served by Representative Keith Ellison (D), Senator Alan Franken (D) and Senator Amy Klobuchar (D).

Accessible Space is an apartment community containing 30 rental units. The property contains 30 bedrooms and based on typical apartment occupancy limits, Accessible Space is home to not more than 45 persons when fully occupied.

Rent Subsidies

Accessible Space provides rental subsidies to renters. The type of subsidy provided to apartment renters in Minneapolis, MN by this property is Section 202 Rental Assistance.

This subsidy allows the renter to pay 30% of his or her income for rent while the subsidy pays the difference. To qualify, a renter must earn 50% or less of the Area Median Income.

There is no minimum rent at this property for residents receiving a rent subsidy but in recent years, there has been discussions in Congress to implement a minimum rent in the Section 202 Program to reduce cost burden on the Federal budget.

Unit Mix

Accessible Space contains a mix of 30 assisted one bedroom apartments for rent. There are 30 One Bedroom apartments in this property. The unit mix is 100% One Bedroom apartment rentals. The average bedroom size for Accessible Space is 1.

Minnesota's 5th

Congressional District

30

Total Units

30

Project Based Sec. 8 Units

30

Section 202 Units

30

Senior Units

100

% of Fair Market Rent

21-Sep-19

Project Based Sec. 8 Contract Expiration

One

Unit Mix

1

Average Bedroom Size

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† These counts are estimates based on the data available from HUD. Learn More About Our Data