10987 Bren Road East, Minnetonka, MN 55343
Waiting List Forecast: Likely Short or None
Verified for 2023 by Colleen Carter, Ric Gresia| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 688 - 1,320 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.
Surrounded by Nature. Close to Everything. Discover all the comforts of home in Minnetonka's most appealing new community. Preserve at Shady Oak offers spacious, thoughtfully designed 1, 2 & 3 bedroom apartments with all the amenities that matter most: in-home washer & dryer, luxury vinyl plank flooring, quartz countertops & optional heated underground parking. Residents enjoy exclusive access to the private fitness center, outdoor pool, indoor playground, and comfy community room. There's even a bike lounge with the space you need to maintain your wheels all year long. And, in 2022, you'll be just steps from the new light rail station. Trade up to a life you'll love!
Preserve at Shady Oak is a Pet-Friendly Community - Dogs & Cats Welcome!
- Limit: 2 pets per apartment home
- Pet Deposit: $150 per pet/due at time of move-in (refundable)
- Pet Fee: $150 per pet/due at time of move-in (non-refundable)
Some breed & other restrictions may apply. Please call for more details.
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 Preserve at Shady Oak 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 |
|---|---|---|
| 1 Bedroom (1/1) | 688ft2 | Call for Price† |
| 2 Bedroom (2/2) | 978ft2 | Call for Price† |
| 3 Bedroom (3/2) | 1320ft2 | 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 Preserve at Shady Oak have a waiting list?
Preserve at Shady Oak 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 Preserve at Shady Oak?
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 Preserve at Shady Oak?
Preserve at Shady Oak is managed by Dominium headquartered in Plymouth, MN.
In addition to Preserve at Shady Oak, how many other affordable housing properties (and units) are there in Minnetonka?
In addition to Preserve at Shady Oak, we list 14 other affordable properties in Minnetonka. Learn about these properties here. Our data research shows that there are a total of 1080 affordable units in Minnetonka.
When was the Preserve at Shady Oak listing last updated?
Preserve at Shady Oak listing on Affordable Housing Online was last updated on 01/13/2023 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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