Jackson Place

300 Jackson Place NW, Elk River, Minnesota 55330

Contact Jackson Place

The three story structure will have one level of underground parking, main level of storefront commercial with residential entry/ lobby/ commons and two stories of housing above. It is located in the heart of the central business district. It will act as the anchor for the revitilization of downtown Elk River. A key development with strong city and community support. It brings a combination of housing and retail back into the downtown.

The new construction will consist of 32 one and two bedroom units. The new construction has been thoughtfully designed to complement the existing historic structures in the downtown area.

All apartments will have similar layouts which include, a combined living and dining area, full kitchen, full bathroom and either one or two bedrooms. Unit amenities include range, refrigerator, dishwasher and garbage disposal for the kitchen, washer/dryer hook-ups, custom mini-blinds, individually controlled heating and air conditioning and carpet, vinyl or wood flooring combinations.

Building amenities will include underground parking, controlled entry access, a community room and a party room for tenant use, office and lounge area.

The street level of 300 Jackson Place is expected to include a mix of retail and office for our residents.

Unit (Bd/Ba)	Ft²	Rent
1 BR A (1/1)	700	Income Based
1 BR B (1/1)	800	Income Based
1 BR C (1/1)	800	Income Based

Eligibility for Jackson Place

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 Elk River but actual income limits may differ for units at Jackson Place.

AMI Band	1 Person	2 Person	3 Person	4 Person	5 Person	6 Person	7 Person	8 Person
Very Low Income (50%)	$43,500	$49,700	$55,900	$62,100	$67,100	$72,050	$77,050	$82,000
Low Income (60%)	$52,200	$59,640	$67,080	$74,520	$80,520	$86,460	$92,460	$98,400

Jackson Place Details

32 one bedroom units.
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

Controlled Access
Community Room
On-Site Manager
Off-Street Parking
Underground Parking
On-Site Maintenance
Elevator

Unit Amenities

Air Conditioning
Handicapped Accessible
Dishwasher
Garbage Disposal
Microwave
Carpet
Refrigerator
Blinds
Programmable Thermostats
Fully Equipped Kitchen
Washer and Dryer Included

Office Hours

Day	Hours
Monday	9:00am-5:00pm
Tuesday	9:00am-5:00pm
Wednesday	9:00am-5:00pm
Thursday	9:00am-5:00pm
Friday	9:00am-5:00pm

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.