Saint Barnabas Apts was developed and operates with Federal housing financing.
The property utilizes 2 Federal housing programs to make rent affordable to lower income tenants.
These programs are Low Income Housing Tax Credit and HOME.
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 2004.
The property was placed in service in 2005.
42 of 52
units at Saint Barnabas Apts are low income and subject to the tax credit program.
The property, at the time of the tax credit allocation,
was located in
a Qualified Census Tract qualifying it for additional tax credit financing.
HOME Investment Partnership
The property was financed in part with financing through the Federal HOME Investment Partnership Program.
42 of the 52 total units at Saint Barnabas Apts are assisted under the HOME
Saint Barnabas Apts 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).
Saint Barnabas Apts is an apartment community containing 52 rental units.
The property contains 52 studio bedrooms and based on typical apartment occupancy limits, Saint Barnabas Apts
is home to not more than 52† persons when fully occupied.
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.
Saint Barnabas Apts contains a mix of 52 assisted
studio bedroom apartments for rent. There are 52 Studio apartments in this property. The unit mix is 100% Studio apartment rentals. The average bedroom size for Saint Barnabas Apts is .