3150 Lexington Ave N, Shoreview, MN 55126
Waiting List Forecast: Likely Short or None
Verified for 2021 by Sherman Marketing| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $893 - 1,734 per Month† | 1 - 2 Beds | 1 - 2 Baths | 733 - 1,210 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.
The Shores is an independent 62+ senior living community located near Lake Josephine in Shoreview. The Shores offers 1 and 2 bedroom apartments. Conveniently located near walking trails, parks, shopping, restaurants, and entertainment, The Shores is the perfect place to call home. This community features large living rooms, large kitchens with abundant cabinet space, washer/dryer in-unit, dishwashers, and balconies, patios, and Juliet balconies. This community offers resident planned events, community room with children’s play area, TV, and plenty of seating, community kitchen, sun room with fireplace, heated garage parking, 24-hour emergency maintenance, and is cat 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. 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 Shores 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 |
|---|---|---|
| 1 Bedroom | 1.5 Bathroom (1/1.5) | 1024ft2 | $1,357 $1,724† |
| 1 Bedroom (1/1) | 733ft2 | $893 $1,086† |
| 2 Bedroom (2/2) | 1210ft2 | $1,336 $1,734† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year |
| 50% AMI for PBRA Units | $43,500 / year | $49,700 / year | $55,900 / year | $62,100 / year |
| 60% AMI for LIHTC Units | $52,200 / year | $59,640 / year | $67,080 / year | $74,520 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does The Shores Senior Apartments have a waiting list?
The Shores 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 Shores 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 Shores Senior Apartments?
The Shores Senior Apartments is managed by Sherman Associates headquartered in Minneapolis, MN.
In addition to The Shores Senior Apartments, how many other affordable housing properties (and units) are there in Shoreview?
In addition to The Shores Senior Apartments, we list 3 other affordable properties in Shoreview. Learn about these properties here. Our data research shows that there are a total of 112 affordable units in Shoreview.
Wait until you have a Section 8 voucher to find housing.
It usually takes months or years to reach the top of a Section 8 HCV waiting list. Any apartments you see now will likely not be available when you get your voucher.Steve Rubin says:
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