1929 2nd St NE, Minneapolis, MN 55418
Waiting List Forecast: Likely Short or None
Verified for 2019 by Sherman Marketing, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,063 - 1,137 per Month† | Studio - 3 Beds | 1 - 2 Baths | - |
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.
Bottineau Lofts is located in the heart of the eclectic and always energetic Northeast Minneapolis. The Building offers loft-style apartment living. These unique, yet contemporary homes are the result of an innovative renovation of one of our city’s oldest school buildings. It is the perfect blend of historical charm in a welcoming urban community.
Completed in 1918, the main building of what is now Bottineau Lofts was originally created for the means of serving as an immigrant settlement house. The 3-story brick building was rehabilitated into a total of 37 affordable apartment homes. Due to the building’s listing on the Historical Register, its renovation strictly adhered to the set forth regulations, ensuring that as much of the exterior finishes remained undisturbed.
Restored hardwood floors are offered to residents along with walk-in closets, central air conditioning and heating, and modern kitchens. The property has controlled access, on-site laundry facilities, and surface parking all overlooking Bottineau Park in the vibrant Northeast neighborhood of Minneapolis.
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 Bottineau 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. Since the property also utilizes a FHA insured private mortgage, the property is subject to Federal physical condition requirements and REAC inspections. 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.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | 572ft2 | $1,063† |
| 1 Bedroom (1/1) | 834ft2 | $1,137† |
| 2 Bedroom (2/1) | - | Call for Price† |
| 3 Bedroom (3/2) | - | 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 Bottineau Lofts have a waiting list?
Bottineau 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 Bottineau 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 Bottineau Lofts?
Bottineau Lofts is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to Bottineau Lofts, how many other affordable housing properties (and units) are there in Minneapolis?
In addition to Bottineau Lofts, 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.
2220 East Lake Street, Minneapolis, Minnesota 55407
2845 Bloomington Avenue South, Minneapolis, Minnesota 55407
16 E 15th St, Minneapolis, Minnesota 55403
2910 E Franklin Ave, Minneapolis, Minnesota 55406
951 Lowry Ave NE, Minneapolis, Minnesota 55418
Do you have little or no income?
Be aware that some housing assistance programs have a minimum income requirement, such as Low-Income Housing Tax Credit aparments.Lorraine Dale says:
"I have visited Affordable Housing Online over and over again to get on waiting lists. I never would have even gotten on them without this information!"