Stone Arch II

520 2nd St SE, Minneapolis, MN 55414

Waiting List Forecast: Likely Short or None

check_circleVerified for 2023 by Lorena Bentley, Joshua Cappell

Rent	Beds	Baths	SqFt
Call for Rents^†	Studio - 1 Bed	1 Bath	359 - 488 Sq Ft

Call (612) 662-2047

Waitlist Forecast

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.

Stone Arch Apartments 2 is a stylish community of 91 affordable apartments in the highly sought after neighborhood of St. Anthony Main. Great river views and close proximity to Downtown and the U of M make the location one of the best in the Twin Cities. The project consists of a six story building with two levels of underground parking. The design compliments the evolving change of character that is occurring in the neighborhood. The building is slender and elegant in profile, yet muscular in presence, representing the industrial form of the area. Many green features and sustainable materials are incorporated into the design and construction. Stone Arch 2 participates in the Section 42 affordable rental program. Residents enjoy the best of all worlds: high quality construction, amazing amenities and affordable rents!!!

Dave's Thoughts On Stone Arch II

Because Stone Arch II participates in HUD's HOME program for rental housing and the LIHTC program, at least some of the units in this property are set aside for households earning 60% or less of the AMI and rents are capped at the local FMR and in many cases much lower. For a HOME project of this size, some of the units are set aside for households at or below 50% AMI with a corresponding lower rent cap. As this property appears not to have a project-based subsidy or any other Federal assistance, you likely will have to pay your own rent, albeit, at a lower rent amount thanks to the HOME and LIHTC programs. Since this property participates in the HOME and LIHTC programs, the property is required to accept Section 8 Housing Choice Vouchers.

~ Dave Layfield, Founder of Affordable Housing Online

Stone Arch II Amenities

Controlled Access
Elevator
Fitness Center
BBQ and Picnic Area
Community Room
Business Center
On-Site Manager
Close to Public Transportation
Garage
Air Conditioning
Dishwasher
Microwave
Spacious Closets
Refrigerator
Bicycle Storage
On-Site Maintenance
Laundry Facilities
Smoke Free
Private Patio and Balcony
Energy Efficient Appliances

Units at Stone Arch II

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	359ft²	Call for Price^†
One Bed One Bath (1/1)	488ft²	Call for Price^†

Income Qualification for Stone Arch II

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

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.

FAQs for Stone Arch II

Does Stone Arch II have a waiting list?

Stone Arch II 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 Stone Arch II?

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.

In addition to Stone Arch II, how many other affordable housing properties (and units) are there in Minneapolis?

In addition to Stone Arch II, 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.