260 Portland Ave., Minneapolis, MN 55415
Waiting List Forecast: Likely Short or None
Verified for 2024 by Connor Bailey, Sherman Marketing| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,248 - 1,586 per Month† | Studio - 2 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.
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Dating back to 1909, Ladder 260 is home to the site of the former Minneapolis Fire Station 1, rich in history and rooted by community. Our affordable studio, 1-bedroom, and 2-bedroom apartment homes blend contemporary design and modern convenience with vintage touches inspired by the original fire station.
With anticipated opening in summer 2024, these new construction homes deliver 90 Tax Credit apartments at 60% AMI to downtown Minneapolis. Within these homes, 18 apartments are at 50% AMI including 5 Long Term Homeless apartments at 30% AMI with project-based vouchers with Minneapolis Public Housing Authority. Income limits do apply to all homes. Ladder260 participates in affordable housing programs. Income limits do apply to all homes.
Community Amenities
Home Amenities
Home Finishes
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 Ladder 260 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) | 516-545ft2 | $1,248† |
| One Bedroom (1/1) | 648-783ft2 | $1,328† |
| Two Bedroom (2/2) | 966-1078ft2 | $1,586† |
| 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 Ladder 260 have a waiting list?
Ladder 260 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 Ladder 260?
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 Ladder 260?
Ladder 260 is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to Ladder 260, how many other affordable housing properties (and units) are there in Minneapolis?
In addition to Ladder 260, we list 246 other affordable properties in Minneapolis. Learn about these properties here. Our data research shows that there are a total of 20949 affordable units in Minneapolis.
When was the Ladder 260 listing last updated?
Ladder 260 listing on Affordable Housing Online was last updated on 03/04/2024 by Connor Bailey. Remember, a property's status can change so you should contact the property to confirm.
2910 E Franklin Ave, Minneapolis, Minnesota 55406
Prepare to pay a fee to apply for units that accept Section 8 vouchers.
While there is no charge for Section 8 applications, a private landlord may charge a fee to apply for an available unit.Theodore Taylor Jr. says:
"Affordable Housing Online is the on website that really helps you get affordable housing."
