East Bank Village Aptartments.
22 University Ave Ne
Minneapolis, Hennepin County, Minnesota 55413

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Funding Programs

East Bank Village Aptartments. was developed and operates with Federal housing financing. The property utilizes the Low Income Housing Tax Credit Federal housing program to make rent affordable to lower income tenants.

Low Income Housing Tax Credit

The property was developed using the Low Income Housing Tax Credit Program. This program incentivizes investors to inject capital into rental apartments for lower income Americans. The property received a tax credit allocation in 2000. The property was placed in service in 2001. 30 of 30 units at East Bank Village Aptartments. are low income and subject to the tax credit program. The property, at the time of the tax credit allocation, was not located in a Qualified Census Tract or a Difficult Development Area and was not qualified for additional tax credit funding.

Overview

East Bank Village Aptartments. 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).

East Bank Village Aptartments. is an apartment community containing 30 rental units. The property contains 61 bedrooms and based on typical apartment occupancy limits, East Bank Village Aptartments. is home to not more than 118 persons when fully occupied.

Rental Subsidies

This property does not provide any Federal rent subsidies to renters reducing total tenant payments to 30% of their adjusted income. Renters are required to pay the full rent, even if it is in excess of 30% of their income. In some cases the property may accept Section 8 Housing Choice vouchers.

Unit Mix

East Bank Village Aptartments. contains a mix of 30 assisted one, two, and three bedroom apartments for rent. There are 7 One Bedroom, 15 Two Bedroom, and 8 Three Bedroom apartments in this property. The unit mix is 23% One Bedroom, 50% Two Bedroom, and 27% Three Bedroom apartment rentals. The average bedroom size for East Bank Village Aptartments. is 2.03.

Minnesota's 5th

Congressional District

30

Total Units

30

Tax Credit Units

One, Two, and Three

Unit Mix

2.03

Average Bedroom Size

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