205 Park Avenue, Minneapolis, MN 55415
Waiting List Forecast: Likely Short or None
Verified for 2022 by Sherman Marketing| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Floorplan Info Upon Request | - | - |
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.
When you live here, everything is in the vicinity. Located downtown in the historic Mill District neighborhood of Minneapolis, you will find your own corner of the city - harmoniously balanced by historic charm and modern convenience. Find yourself within walking distance of iconic Minneapolis staples such as the Stone Arch Bridge while having accessibility to Trader Joe’s just across the street. <br><br>
You can thrive off the energy of a vibrant urban community yet escape and recharge in the luxury of your home. With a sustainable design focus and many locally sourced finishes, you will feel at ease taking in our rooftop skyline views knowing the stories that make up your home. At The Vicinity, your home isn’t just a part of the neighborhood, it’s a reflection of it.<br><br>
The Vicinity also provides a select number of Income Restricted units. Income Restricted applications must be submitted in person, at the office. Please contact a Vicinity team member to schedule an appointment.
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 The Vicinity 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
| 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 The Vicinity have a waiting list?
The Vicinity 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 The Vicinity?
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 The Vicinity?
The Vicinity is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to The Vicinity, how many other affordable housing properties (and units) are there in Minneapolis?
In addition to The Vicinity, 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 The Vicinity listing last updated?
The Vicinity listing on Affordable Housing Online was last updated on 09/29/2022 by Sherman Marketing. Remember, a property's status can change so you should contact the property to confirm.
Preferences are not a requirement.
You should still consider applying to waiting lists with preferences you don't qualify for. There is still a chance to get housing.Judy Robinson Fiebiger says:
"Affordable Housing Online is an awesome website. It sure helps a lot of people who have financial issues."