16397 Glory Ln, Eden Prairie, MN 55344
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,030 - 1,447 per Month† | 1 - 3 Beds | 1 - 2 Baths | 738 - 1,234 Sq Ft |
This property is currently under construction.
Opening September 2020
Trail Pointe Ridge will be a 58 unit building that will have an elevator and a mixture of 1, 2 and 3 bedrooms. Trail Pointe Ridge will have tax credit units and will also be accepting HRA Vouchers.
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 Trail Point Ridge 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| 1 Bedroom (1/1) | 738ft2 | Call for Price† |
| 2 Bedroom (2/1) | 957ft2 | $1,030† |
| 3 Bedroom (3/2) | 1234ft2 | $1,447† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year |
| 50% AMI for PBRA Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year |
| 60% AMI for LIHTC Units | $52,200 / year | $59,640 / year | $67,080 / year | $74,520 / year | $80,520 / year | $86,460 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Trail Point Ridge have a waiting list?
Trail Point Ridge 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 Trail Point Ridge?
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 Trail Point Ridge?
Trail Point Ridge is managed by CommonBond Communities headquartered in St. Paul, MN.
In addition to Trail Point Ridge, how many other affordable housing properties (and units) are there in Eden Prairie?
In addition to Trail Point Ridge, we list 14 other affordable properties in Eden Prairie. Learn about these properties here. Our data research shows that there are a total of 710 affordable units in Eden Prairie.
7475 Flying Cloud Dr, Eden Prairie, Minnesota 55344
Even if it looks difficult to get housing, apply anyway.
Some factors make it look like a longshot to get housing. Any waiting list opening is a legitimate chance to get housing, no mattter how long it takes.Jenn Rebecca Jones says:
"Affordable Housing Online is easy to use and stressless."