Commonwealth Senior Apartments, located at 1400 2nd Ave SE in Cedar Rapids, has studio, one and two bedroom apartments. Commonwealth Senior Apartments participates in the Low-Income Housing Tax Credit (LIHTC) program.
|1 Bedroom (1/1)||544-740||$550|
|2 Bedroom (2/1)||886-1017||$650|
Commonwealth Senior Apartments is located in a historic building on 2nd Ave SE in Cedar Rapids. Built in 1925 as an extended-stay hotel, the building features arched doorways and windows, black marble baseboards and elaborate decorative columns. The building now features 84 newly renovated apartments. Commonwealth residents enjoy great amenities that make apartment living convenient and comfortable.
Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.
Commonwealth Senior Apartments is managed by TWG Development.