3301 Nicollet Avenue, Minneapolis, MN 55408
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 1 Bed | 1 Bath | 381 - 548 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.
Join this exciting new community at 3301 Nicollet – a brand new complex bringing 64 income-restricted apartment homes (30% & 50% AMI) to the Lyndale Neighborhood in Minneapolis! This new construction will anchor affordability in a neighborhood experiencing rising rents that are pricing out low-wage workers and very low-income households. This location offers easy access to public transit and to neighborhood amenities such as schools, parks, retail, and services. Site management is on site and maintenance is on call 24/7. Call them today to join their community!
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 3301 Nicollet 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 |
|---|---|---|
| Studio (Studio/1) | 381ft2 | Call for Price† |
| 1 Bedroom (1/1) | 548ft2 | Call for Price† |
| 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 3301 Nicollet have a waiting list?
3301 Nicollet 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 3301 Nicollet ?
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 3301 Nicollet ?
3301 Nicollet is managed by Property Solutions & Services, LLC headquartered in Minneaplois, MN.
In addition to 3301 Nicollet , how many other affordable housing properties (and units) are there in Minneapolis?
In addition to 3301 Nicollet , we list 365 other affordable properties in Minneapolis. Learn about these properties here. Our data research shows that there are a total of 20859 affordable units in Minneapolis.
When was the 3301 Nicollet listing last updated?
3301 Nicollet listing on Affordable Housing Online was last updated on 01/19/2023 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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