300 Jackson Place NW, Elk River, MN 55330
Waiting List Forecast: Likely Short or None
Verified for 2023 by Bobby Kiefert| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 Bed | 1 Bath | 700 - 800 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 three story structure will have one level of underground parking, main level of storefront commercial with residential entry/ lobby/ commons and two stories of housing above. It is located in the heart of the central business district. It will act as the anchor for the revitilization of downtown Elk River. A key development with strong city and community support. It brings a combination of housing and retail back into the downtown.
The new construction will consist of 32 one and two bedroom units. The new construction has been thoughtfully designed to complement the existing historic structures in the downtown area.
All apartments will have similar layouts which include, a combined living and dining area, full kitchen, full bathroom and either one or two bedrooms. Unit amenities include range, refrigerator, dishwasher and garbage disposal for the kitchen, washer/dryer hook-ups, custom mini-blinds, individually controlled heating and air conditioning and carpet, vinyl or wood flooring combinations.
Building amenities will include underground parking, controlled entry access, a community room and a party room for tenant use, office and lounge area.
The street level of 300 Jackson Place is expected to include a mix of retail and office for our residents.
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 Jackson Place 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. 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 |
|---|---|---|
| 1 BR A (1/1) | 700ft2 | Rent is Based On Your Income† |
| 1 BR B (1/1) | 800ft2 | Rent is Based On Your Income† |
| 1 BR C (1/1) | 800ft2 | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people | 7 people | 8 people |
|---|---|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year | $77,050 / year | $82,000 / year |
| 50% AMI for PBRA Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year | $67,100 / year | $72,050 / year | $77,050 / year | $82,000 / year |
| 60% AMI for LIHTC Units | $52,200 / year | $59,640 / year | $67,080 / year | $74,520 / year | $80,520 / year | $86,460 / year | $92,460 / year | $98,400 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Jackson Place have a waiting list?
Jackson Place 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 Jackson Place?
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 Jackson Place?
Jackson Place is managed by MetroPlains Management, LLC headquartered in Devils Lake, North Dakota.
In addition to Jackson Place, how many other affordable housing properties (and units) are there in Elk River?
In addition to Jackson Place, we list 9 other affordable properties in Elk River. Learn about these properties here. Our data research shows that there are a total of 445 affordable units in Elk River.
When was the Jackson Place listing last updated?
Jackson Place listing on Affordable Housing Online was last updated on 01/19/2023 by Bobby Kiefert. Remember, a property's status can change so you should contact the property to confirm.
Check your waiting list status occasionally.
If you request it, housing agencies are required to confirm if you are still on a waiting list, and some may also state your current position.Linda Kenney says:
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