Trinity on Lake Apartments is a three story brick building located in South Minneapolis. It consists of 24 one and two bedroom apartments.These second and third floor apartments offer beautiful, spacious floor plans, large windows and off-street parking in our car port area. Residents have use of a community room, central laundry and storage lockers. The apartments have shelving organizers in the closet areas and an entry key fob system is provided.
Trinity On Lake 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 2002.
The property was placed in service in 2003.
16 of 24
units at Trinity On Lake 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.
Trinity On Lake 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).
Trinity On Lake is an apartment community containing 24 rental units.
This property serves all family types and disabled persons. The property contains 28 bedrooms and based on typical apartment occupancy limits, Trinity On Lake
is home to not more than 46† 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.
Trinity On Lake contains a mix of 24 assisted
one and two bedroom apartments for rent. There are 20 One Bedroom and 4 Two Bedroom apartments in this property. The unit mix is 83% One Bedroom and 17% Two Bedroom apartment rentals. The average bedroom size for Trinity On Lake is 1.17.