101 2nd Ave, Des Moines, IA 50309
Waiting List Forecast: Likely Short or None
Verified for 2020 by Sherman Marketing, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $758 - 987 per Month† | Studio - 2 Beds | 1 - 2 Baths | 1 - 682 Sq Ft |
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.
The convenience of downtown living is right outside your doorstep at Vine Street Lofts. With its proximity to the Court Avenue District, Principal Park, Downtown Farmers’ Market, a variety of festivals, the Civic Center and downtown’s skyway, Vine Street Lofts is a unique community you will want to call home. Offering spacious studio, one and two bedroom living spaces in Downtown Des Moines, Vine Street Lofts features front row views of the scenic riverfront, beautiful community courtyard, heated underground parking, generous closet space and new kitchen appliances. Enjoy the convenience of urban living and the appeal of modern home designs.
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 Vine Street Lofts 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. As a LIHTC property that chose the 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 391ft2 | Call for Price† |
| 1 Bedroom (1/1) | 682ft2 | $758 $987† |
| 2 Bedroom (2/2) | 1ft2 | $876 $987† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year |
| 50% AMI for PBRA Units | $36,550 / year | $41,750 / year | $46,950 / year | $52,150 / year |
| 60% AMI for LIHTC Units | $43,860 / year | $50,100 / year | $56,340 / year | $62,580 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Vine Street Lofts have a waiting list?
Vine Street Lofts 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 Vine Street Lofts?
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 Vine Street Lofts?
Vine Street Lofts is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to Vine Street Lofts, how many other affordable housing properties (and units) are there in Des Moines?
In addition to Vine Street Lofts, we list 208 other affordable properties in Des Moines. Learn about these properties here. Our data research shows that there are a total of 7312 affordable units in Des Moines.
1401 E Capitol Ave, Des Moines, Iowa 50316
Prepare to pay a fee to apply for units that accept Section 8 vouchers.
While there is no charge for Section 8 applications, a private landlord may charge a fee to apply for an available unit.Patti Lynn Druin says:
"Reliable and accurate and easy to use"