5119 Gateway Street, SE, Prior Lake, MN 55372
Waiting List Forecast: Likely Short or None
Verified for 2024 by Company Admin| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 3 Beds | 1 - 2 Baths | 726 - 1,297 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.
Welcome to The Grainwood Senior Apartments!
LIMITED TIME OFFER: Apply today and enjoy up to 3 MONTHS FREE and newly reduced rates!*
*Some restrictions may apply.
The Grainwood Senior Apartments brings the feel of a cozy lake place to the heart of Prior Lake! Conveniently located near parks, shopping, and restaurants, The Grainwood offers the freedoms of contemporary maintenance-free living combined with amenities such as granite counters, a built-in washer/dryer in every home, and underground heated parking.
Are you ready for convenient living? The Grainwood apartments for adults 55 and older, in beautiful Prior Lake, are the answer for you! Located just south of overbuilt 494 suburbs, the Grainwood offers Up North living in the south Metro. Our resident amenities are as equally impressive as our apartment homes, including a community room with a full kitchen and fireplace, a theatre room to enjoy the big games, and even a beauty salon!
Give us a call at (952) 403-1280 to find out more today.
*The Grainwood participates in an affordable housing program. Household income & student status limitations 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 The Grainwood Senior Apartments 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. As a LIHTC property that chose the 40/60 election, this property has agreed to set aside at least 40% of its units for families and individuals earning 60% of Area Median Income (AMI). Many properties have actually set aside more units than required by law, and in many cases all of the units at these properties are affordable to renters with lower incomes. 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 |
|---|---|---|
| One Bedroom - E (1/1) | 726ft2 | Call for Price† |
| One Bedroom - A (1/1) | 731ft2 | Call for Price† |
| One Bedroom - J (1/1) | 747ft2 | Call for Price† |
| One Bedroom - G (1/1) | 756ft2 | Call for Price† |
| One Bedroom - B (1/1) | 767ft2 | Call for Price† |
| One Bedroom - M (1/1) | 780ft2 | Call for Price† |
| One Bedroom - L (Wheelchair Accessible) (1/1) | 786ft2 | Call for Price† |
| One Bedroom - H (1/1) | 799ft2 | Call for Price† |
| One Bedroom - D (1/1) | 800ft2 | Call for Price† |
| One Bedroom - C (1/1) | 800ft2 | Call for Price† |
| One Bedroom - K (1/1) | 813ft2 | Call for Price† |
| One Bedroom - F (1/1) | 868ft2 | Call for Price† |
| Two Bedroom - G (2/2) | 1000ft2 | Call for Price† |
| Two Bedroom - H (2/2) | 1057ft2 | Call for Price† |
| Two Bedroom - F (2/2) | 1074ft2 | Call for Price† |
| Two Bedroom - C (2/2) | 1174ft2 | Call for Price† |
| Two Bedroom - D (2/2) | 1186ft2 | Call for Price† |
| Two Bedroom - E (Wheelchair Accessible) (2/2) | 1187ft2 | Call for Price† |
| Two Bedroom - A (2/2) | 892ft2 | Call for Price† |
| Two Bedroom - B (2/2) | 994ft2 | Call for Price† |
| Three Bedroom - A (3/2) | 1259ft2 | Call for Price† |
| Three Bedroom - C (Wheelchair Accessible) (3/2) | 1286ft2 | Call for Price† |
| Three Bedroom - B (3/2) | 1297ft2 | Call for Price† |
| 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 The Grainwood Senior Apartments have a waiting list?
The Grainwood Senior Apartments 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 Grainwood Senior Apartments?
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 Grainwood Senior Apartments?
The Grainwood Senior Apartments is managed by Dominium headquartered in Plymouth, MN.
In addition to The Grainwood Senior Apartments, how many other affordable housing properties (and units) are there in Prior Lake?
In addition to The Grainwood Senior Apartments, we list 12 other affordable properties in Prior Lake. Learn about these properties here. Our data research shows that there are a total of 399 affordable units in Prior Lake.
When was the The Grainwood Senior Apartments listing last updated?
The Grainwood Senior Apartments listing on Affordable Housing Online was last updated on 08/14/2024 by Company Admin. Remember, a property's status can change so you should contact the property to confirm.
16535 Tranquility Ct SE, Prior Lake, Minnesota 55372
Looking for landlords who will take a Section 8 voucher?
Ask your housing authority if they have a list of landlords who accept Section 8 Housing Choice Vouchers.Judea I. Lawton says:
"Affordable Housing Online is a great resource for those needing housing."