2275 4th St NW, Faribault, MN 55201
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $731 - 1,162 per Month† | 1 - 3 Beds | 1 Bath | - |
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 Lofts at Evergreen Knoll offers modern one, two, and three-bedroom apartment homes. Honoring the historic Faribault Woolen Mill – unit floorplans are named representing different types of wool. Come home to The Lofts at Evergreen Knoll and you will be woven into a comfortable and cozy setting in Faribault, Minnesota!
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 The Lofts at Evergreen Knoll 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) | - | $731† |
| 2 Bedroom (2/1) | - | $831 $1,008† |
| 3 Bedroom (3/1) | - | $1,162† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 50% AMI for LIHTC Units | $32,550 / year | $37,200 / year | $41,850 / year | $46,500 / year | $50,250 / year | $53,950 / year |
| 50% AMI for PBRA Units | $32,550 / year | $37,200 / year | $41,850 / year | $46,500 / year | $50,250 / year | $53,950 / year |
| 60% AMI for LIHTC Units | $39,060 / year | $44,640 / year | $50,220 / year | $55,800 / year | $60,300 / year | $64,740 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does The Lofts at Evergreen Knoll have a waiting list?
The Lofts at Evergreen Knoll 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 The Lofts at Evergreen Knoll?
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 The Lofts at Evergreen Knoll?
The Lofts at Evergreen Knoll is managed by Velair Property Management headquartered in Minneapolis, MN.
In addition to The Lofts at Evergreen Knoll, how many other affordable housing properties (and units) are there in Faribault?
In addition to The Lofts at Evergreen Knoll, we list 20 other affordable properties in Faribault. Learn about these properties here. Our data research shows that there are a total of 681 affordable units in Faribault.
When was the The Lofts at Evergreen Knoll listing last updated?
The Lofts at Evergreen Knoll listing on Affordable Housing Online was last updated on 01/17/2023 by Affordable Housing Online research staff. Remember, a property's status can change so you should contact the property to confirm.
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