Kingsbury Prop. III S2
11 W. 35th St.
Minneapolis, Hennepin County, Minnesota 55408

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Funding Programs

Kingsbury Prop. Iii S2 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 1987. The property was placed in service in 1987. 4 of 4 units at Kingsbury Prop. Iii S2 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

Kingsbury Prop. Iii S2 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).

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.

Minnesota's 5th

Congressional District

4

Tax Credit Units

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