121 Tyler Street, Hastings, MN 55033
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey, Bobby Kiefert, Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 - 2 Baths | 670 - 1,340 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.
Artspace Hastings River Lofts is located at 121 Tyler Street, on the corner of Tyler Street and East 2nd Street, downtown Hastings' historic main street.
Artspace Hastings River Lofts, a new three-story, 49,000-square-foot structure, was built on what has served as a parking lot for the past decade.
The 37 unit building will include 4 studio units, 17 one-bedroom units, 12 two-bedroom units, and 4 three-bedroom units. These units will include open floorplans, floor to ceiling windows, loft ceilings, walk-in closets, custom cabinetry, dishwashers, and views of the Mississippi River. The property will be a family friendly building with a surface parking lot and off-street parking, a resident gallery, and outdoor gathering, event, and performance space. Located in the heart of downtown Hastings, Artspace Hastings River Lofts will be within walking distance of cafes, restaurants, retail businesses, and arts center.
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 Artspace Hastings River 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many 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 lower incomes. 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 |
|---|---|---|
| Efficiency (Studio/1) | 670ft2 | Call for Price† |
| One Bedroom (1/1) | 800ft2 | Call for Price† |
| Two Bedroom (2/1) | 1080ft2 | Call for Price† |
| Two Bedroom (2/2) | 1100ft2 | Call for Price† |
| Three Bedroom (3/2) | 1340ft2 | Call for Price† |
| 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 Artspace Hastings River Lofts have a waiting list?
Artspace Hastings River 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 Artspace Hastings River 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 Artspace Hastings River Lofts?
Artspace Hastings River Lofts is managed by MetroPlains Management, LLC headquartered in Devils Lake, North Dakota.
In addition to Artspace Hastings River Lofts, how many other affordable housing properties (and units) are there in Hastings?
In addition to Artspace Hastings River Lofts, we list 14 other affordable properties in Hastings. Learn about these properties here. Our data research shows that there are a total of 601 affordable units in Hastings.
When was the Artspace Hastings River Lofts listing last updated?
Artspace Hastings River Lofts listing on Affordable Housing Online was last updated on 01/01/2023 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
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