Stone Creek at Medicine Lake

1020 W Medicine Lake Dr, Plymouth, Minnesota 55441

Stone Creek at Medicine Lake, located at 1020 W Medicine Lake Dr in Plymouth, has two and three bedroom apartments. Stone Creek at Medicine Lake participates in the Low-Income Housing Tax Credit (LIHTC) and Public Housing programs.

Units

Unit (Bd/Ba) Ft2 Rent
Two Bedroom (2/2) 1225-1536 From $1,983 To $4,213
Three Bedroom (3/2) 1471-1644 From $2,498 To $4,904

Stone Creek at Medicine Lake Details

  • 643 two and three bedroom units.
  • Accepts Section 8 Housing Choice Vouchers (HCV)

Property Amenities

  • Fitness Center
  • Playground
  • Community Room

Office Hours

Day Hours
Monday 9:00am-5:00pm
Tuesday 9:00am-6:00pm
Wednesday 9:00am-6:00pm
Thursday 9:00am-6:00pm
Friday 9:00am-5:00pm
Saturday 10:00am-4:00pm

About Stone Creek at Medicine Lake

Welcome to the luxury apartment home of your dreams. Our professional on-site staff is dedicated to taking care of each & every resident. Stone Creek's convenient location just 1 mile West of Hwy 169, right off Hwy 55 lies within the Wayzata School District, nestled in beautiful wooded surroundings and within walking distance to the shores of Medicine Lake.
 

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Public Housing

Since this property is owned and managed by a Public Housing Authority, all of the rents at this property are based on tenant incomes. Tenants will make a monthly contribution toward rent equal to 30% of their adjusted income. A housing authority may establish a minimum rent of up to $50.

Plymouth HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Plymouth but actual income limits may differ for units at Stone Creek at Medicine Lake.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
30% $21,000 $24,000 $27,000 $30,000 $32,400 $34,800 $39,010 $43,430
50% $35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
80% $52,850 $60,400 $67,950 $75,500 $81,550 $87,600 $93,650 $99,700

Plymouth Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Plymouth but actual income limits may differ for units at Stone Creek at Medicine Lake.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person 7 Person 8 Person
Very Low Income (50%) $35,000 $40,000 $45,000 $50,000 $54,000 $58,000 $62,000 $66,000
Low Income (60%) $42,000 $48,000 $54,000 $60,000 $64,800 $69,600 $74,400 $79,200

These general income qualifications for Plymouth, Minnesota should only be used as a basic guide. To find out if you qualify, contact the community directly.

Stone Creek at Medicine Lake was built in part with financing obtained through the Low Income Housing Tax Credit (LIHTC) program and receives rental subsidies through HUD-Assisted Housing. These programs have different income limits that can lead to apartments in the same property having different income requirements.

You can make up to 80% of the Area Median Income (AMI) and be eligible for a HUD-Assisted Housing unit. However, you can earn at most 60% of AMI to be eligible for a LIHTC property and many units may be set aside for those with the lowest incomes (down to 15% of AMI). LIHTC properties may also contain some market rate units.

Since Stone Creek at Medicine Lake has both programs, the most restrictive of the income limits will apply for each unit. If the entire property is funded by LIHTC, the LIHTC income limit of 60% AMI would be used for all units. Apartments in properties with some units not funded by the LIHTC, but receiving Section 8 assistance, would be open to households making up to 80% AMI. Market rate units would have no subsidies or income restrictions.

Figuring out income and rent limits for affordable housing can be complex especially when more than one federal program is involved. To know for sure if you qualify, you must contact the property directly. The amounts provided here should only be used as a basic guide.

Stone Creek at Medicine Lake is managed by Dominium.

Image of Stone Creek at Medicine Lake

Nearby Low Income Apartment Communities

Kimberly Meadows

17301 County Road 6
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$1,043-1,461
2-4 BR
Subsidized