40 Saint Michael Pkwy, St Michael, MN 55376
Waiting List Forecast: Likely Short or None
Verified for 2021 by Lorena Bentley, Joshua Cappell| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| $1,118 - 1,538 per Month† | 1 - 3 Beds | 1 - 2 Baths | 857 - 1,435 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 CORNERSTONE VILLAGE
New standards for maximizing your home's comfort, function, and style at Cornerstone Village Apartment Homes. This community features spacious one, two and three bedroom apartment homes, with blonde shaker style cabinetry, energy efficient appliances and a private patio or balcony for every home. Located off St. Michael Parkway and Main Street, local restraunts and Walgreens are within walking distance and Albertville Premium Outlets is only 5 minutes away!
This community participates in affordable housing programs. That means a residents must qualify with a miniumum and maximum income requuirements. Contact the on-site management team to learn more about becoming a resident at Cornerstone Village Apartment Homes.
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 Cornerstone Village 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 20/50 election, this property has agreed to set aside at least 20% of its units for families and individuals earning 50% of Area Median Income (AMI). Many of these 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 very low incomes.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 857ft2 | $1,118† |
| Two Bedroom (2/2) | 1072ft2 | $1,336† |
| Three Bedroom (3/2) | 1435ft2 | $1,538† |
| 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 Cornerstone Village have a waiting list?
Cornerstone Village 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 Cornerstone Village?
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 Cornerstone Village?
Cornerstone Village is managed by Sand Property Management, LLC headquartered in St. Paul, Minnesota.
In addition to Cornerstone Village, how many other affordable housing properties (and units) are there in Wright County?
In addition to Cornerstone Village, we list 60 other affordable properties in Wright County. Learn about these properties here. Our data research shows that there are a total of 1491 affordable units in Wright County.
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.Bianca Gonalez says:
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