2020 Commerce Blvd, Mound, MN 55364
Waiting List Forecast: Likely Long or Closed for Rent Assisted units, and Likely Short or None for other affordable units
Verified for 2023 by Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | Studio - 3 Beds | 1 Bath | - |
Since this property is a LIHTC property that may have rental assistance for some or all units, there might be seperate or split waiting lists for rental assistance and non-rental assistance units. In this case, the rental assistance waiting list can be much longer than properties without rental assistance. The non-rental assistance units waiting list is likely much shorter or it may not have a waiting list at all. 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.
Balsam Hill Apartments and Townhomes offers studio, 1, and 2 bedroom apartments and 3 bedroom townhomes. Amenities include a community room and kitchen, landscaped courtyard with grill and on-site surface parking. In-unit features include hardwood floors, walk-in closets*, dishwashers*, air conditioning and on-site laundry facilities. This property is smoke-free and pet friendly.
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. The LIHTC program doesn't provide direct subsidies to the residents, but the owner must set rents affordable to low-income renters in the area. This property does participate in the RAD Section 8 Project-Based Rental Assistance program and your rent would be subsidized and based on your income. You would not pay more than 30% of your income for rent. To qualify, you must earn 50% or less of the Area Median Income (AMI), which you can find on this page’s income chart. LIHTC properties tend to have shorter waiting lists however, since Balsam Hill Apartments and Townhomes has a project-based subsidy, the waiting list is likely much longer than other local LIHTC properties. LIHTC properties nationwide are required to accept housing vouchers however, since this property has a RAD Section 8 Project-Based Rental Assistance contract, your Section 8 voucher can not be used here. LIHTC properties were first built in the late 1980's and the LIHTC program funds the renovation of older properties. Because they tend to be newer or renovated, 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 need help paying your rent and are willing to wait for a longer waiting list.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| Studio (Studio/1) | - | Rent is Based On Your Income† |
| 1 Bedroom (1/1) | - | Rent is Based On Your Income† |
| 2 Bedroom (2/1) | - | Rent is Based On Your Income† |
| 3 Bedroom (3/1) | - | Rent is Based On Your Income† |
| AMI* | 1 person | 2 people | 3 people | 4 people | 5 people | 6 people |
|---|---|---|---|---|---|---|
| 30% AMI for PBRA Units | $26,100 / year | $29,800 / year | $33,550 / year | $37,250 / year | $40,250 / year | $43,250 / year |
| 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 |
| 80% AMI for PBRA Units | $66,300 / year | $75,750 / year | $85,200 / year | $94,650 / year | $102,250 / year | $109,800 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Balsam Hill Apartments and Townhomes have a waiting list?
Balsam Hill Apartments and Townhomes probably has a waiting list. Since our research has shown there is a project-based rental assistance associated with this property, the waiting list would be for the rent-assisted units. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Balsam Hill Apartments and Townhomes?
We believe rents are most likely subsidized at all or some of the units since our research has turned up at least one public housing or rental assistance contract probably associated with this property.
What property management company manges Balsam Hill Apartments and Townhomes?
Balsam Hill Apartments and Townhomes is managed by Aeon headquartered in Minneapolis, Minnesota.
In addition to Balsam Hill Apartments and Townhomes, how many other affordable housing properties (and units) are there in Hennepin County?
In addition to Balsam Hill Apartments and Townhomes, we list 557 other affordable properties in Hennepin County. Learn about these properties here. Our data research shows that there are a total of 30285 affordable units in Hennepin County.
When was the Balsam Hill Apartments and Townhomes listing last updated?
Balsam Hill Apartments and Townhomes listing on Affordable Housing Online was last updated on 01/01/2023 by Joshua Cappell. Remember, a property's status can change so you should contact the property to confirm.
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