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Cherry Ridge Apartments

101 Glenwood Ave, Mankato, Minnesota 56001

Cherry Ridge offers a private setting with a panoramic view of the Mankato/North Mankato River Valley. Conveniently located within walking distance of downtown Mankato. This community recently added many energy efficiencies including low flow faucets and all LED lighting. An application fee of $25 per adult plus a $500 security deposit is due with your application.

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Units

Unit (Bd/Ba) Ft2 Rent
studio (Studio/1) 500 $540
1 Bedroom (1/1) 618 From $630 To $650
2 Bedroom (2/1) 775-1,154 From $710 To $760
3 Bedroom (3/2) 1,375 From $850 To $900

Cherry Ridge Apartments Details

  • 83 0, 0, 0 and 0 bedroom units.
  • Water and Sewer utilities included in rent
  • Heat utility included in rent
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Controlled Access
  • Elevator
  • Fitness Center
  • Playground
  • Community Room
  • Garage
  • Smoke Free
  • Heat Included

Unit Amenities

  • Storage
  • Water Trash and Sewer Included

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Mankato Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Mankato but actual income limits may differ for units at Cherry Ridge Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $29,650 $33,900 $38,150 $42,350 $45,750 $49,150 $52,550 $55,950
Low Income (60%) $35,580 $40,680 $45,780 $50,820 $54,900 $58,980 $63,060 $67,140

Cherry Ridge Apartments is managed by Lloyd Management.

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Nearby Low Income Apartment Communities

Sibley Park Apartments

410 Sibley Pkwy
Mankato, Minnesota
$660-1,005
1-3 BR