39950 Cherokee Avenue, North Branch, MN 55056
Waiting List Forecast: Likely Short or None
Verified for 2022 by Lorena Bentley| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 2 - 3 Beds | 1 - 2 Baths | 887 - 1,224 Sq Ft |
This property is currently under construction.
opening summer 2020
Cherokee Place in North Branch will create 48 units of workforce, new-construction townhomes. The target market is primarily families, and secondly individuals or families with a member requiring supportive services. The location makes good use of existing infrastructure and connectivity to community resources and is well situated in a neighborhood of opportunities that has many wonderful resources nearby such as schools, civic center, restaurants, coffee shops, groceries, and shopping. The development will be amenity rich as well, providing a clubhouse with community room, meeting space, fitness center and manager’s office.
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 Cherokee Place 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 |
|---|---|---|
| 2 Bedroom (2/1) | 887ft2 | Call for Price† |
| 3 Bedroom (3/2) | 1224ft2 | 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 Cherokee Place have a waiting list?
Cherokee Place 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 Cherokee Place ?
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 Cherokee Place ?
Cherokee Place is managed by The Commonwealth Companies headquartered in Fond du Lac, WI.
In addition to Cherokee Place , how many other affordable housing properties (and units) are there in North Branch?
In addition to Cherokee Place , we list 5 other affordable properties in North Branch. Learn about these properties here. Our data research shows that there are a total of 192 affordable units in North Branch.
Do you have little or no income?
You can qualify for most rental assistance programs, including Section 8 and Public Housing, even if you have little or no income.Belinda Hewitt says:
"With the information from Affordable Housing Online, I was finally able to apply and get on a waiting list. I see there is still hope, thank you so much!"