20 Lowry Ave NE, Minneapolis, MN 55418
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 2 Beds | 1 - 2 Baths | 436 - 951 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.
Gateway Northeast is located in the trendy Northeast Minneapolis neighborhood, a short distance from Downtown Minneapolis. Surrounded by acclaimed restaurants, breweries, the Riverfront District and multi-cultural art it is easy to see why the Northeast is the hottest neighborhood in Minneapolis.
They offer both tax credit and market rate units.
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 Gateway Northeast 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) | 436ft2 | Call for Price† |
| 1 Bedroom (1/1) | 532ft2 | Call for Price† |
| 2 Bedroom (2/2) | 951ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year |
| 50% AMI for PBRA Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year |
| 60% AMI for LIHTC Units | $52,200 / year | $59,640 / year | $67,080 / year | $74,520 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Gateway Northeast have a waiting list?
Gateway Northeast 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 Gateway Northeast?
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 Gateway Northeast?
Gateway Northeast is managed by CommonBond Communities headquartered in St. Paul, MN.
In addition to Gateway Northeast, how many other affordable housing properties (and units) are there in Minneapolis?
In addition to Gateway Northeast, 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 Gateway Northeast listing last updated?
Gateway Northeast listing on Affordable Housing Online was last updated on 01/18/2023 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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951 Lowry Ave NE, Minneapolis, Minnesota 55418
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