Lake Street Station

2220 East Lake Street, Minneapolis, MN 55407

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Lorena Bentley, Joshua Cappell

Rent	Beds	Baths	SqFt
$986 - 1,110 per Month^†	1 - 2 Beds	1 Bath	616 - 835 Sq Ft

Call (612) 728-3000 Email

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Lake Street Station Apartments, affordable 55+ living off the Blue Line! Choose from a 1 or 2 bedroom floor. Besides convenience, Lake Street Station will offer planned activities, plaza, community room, rooftop deck and state of the art exercise room.

Dave's Thoughts On Lake Street Station

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Lake Street Station does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Lake Street Station Amenities

Controlled Access
Elevator
Fitness Center
Community Room
Air Conditioning
Dishwasher
Microwave
Oven and Range
Off Street Parking
Laundry Facilities
Downtown Location
Smoke Free
Resident Activities
Individual heating and cooling systems

Units at Lake Street Station

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	616ft²	$986^†
Two Bedroom (2/1)	835ft²	$1,110^†

Income Qualification for Lake Street Station

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

AMI*	1 person	2 people	3 people	4 people
50% AMI for LIHTC Units	$43,500 / year	$49,700 / year	$55,900 / year	$62,100 / year
50% AMI for PBRA Units	$43,500 / year	$49,700 / year	$55,900 / year	$62,100 / year
60% AMI for LIHTC Units	$52,200 / year	$59,640 / year	$67,080 / year	$74,520 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Lake Street Station

Does Lake Street Station have a waiting list?

Lake Street Station probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Lake Street Station?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges Lake Street Station?

Lake Street Station is managed by Sand Property Management, LLC headquartered in St. Paul, Minnesota.

In addition to Lake Street Station, how many other affordable housing properties (and units) are there in Minneapolis?

In addition to Lake Street Station, we list 246 other affordable properties in Minneapolis. Learn about these properties here. Our data research shows that there are a total of 20949 affordable units in Minneapolis.

When was the Lake Street Station listing last updated?

Lake Street Station listing on Affordable Housing Online was last updated on 01/02/2023 by Lorena Bentley. Remember, a property's status can change so you should contact the property to confirm.