Riverwood Pines

18801 Riverwood Drive, Little Falls, Minnesota 56345

Contact Riverwood Pines

The school was originally built in 1911, wings in 1930. Our Lady of Angles Academy was a boarding school headed by the Franciscan Sisters of Belle Prairie. The building was vacant since 1974. Riverwood Pines is now 24 apartments of contemporary housing, consisting of 10 one-bedroom units averaging 650 sq.ft and 14 two-bedroom units averaging 800 sq.ft. Riverwood Pines is located in a quite, country setting. Elevator and a laundry room located on every floor that is well maintained and a beautiful fire place in the setting room over looking the courtyard. Riverwood Pines also has a beautiful park named Bell Prairie Park located within walking distance of the property. With picnic area available, playground and boat access to the water. For more information contact us today, we look forward to hearing from you.

Unit (Bd/Ba)	Ft²	Rent
1 BR (1/1)	650	Income Based
2 BR (2/1)	800	Income Based

Eligibility for Riverwood Pines

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 Little Falls but actual income limits may differ for units at Riverwood Pines.

AMI Band	1 Person	2 Person	3 Person	4 Person
Very Low Income (50%)	$30,900	$35,300	$39,700	$44,100
Low Income (60%)	$37,080	$42,360	$47,640	$52,920

Riverwood Pines Details

24 one and two bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 515 Rural Rental Housing
Section 521 USDA Rental Assistance

Property Amenities

Controlled Access
Playground
BBQ and Picnic Area
Community Room
24hr Emergency Maintenance
Experienced Management
Peaceful Community
Secured Entry
Landscaping
Bus available
Walking Trails
Community Garden
Lawn Care
Coin-Operated Laundry
After Hours Call Service
Surveillance Cameras
Elevator

Unit Amenities

Air Conditioning
Ceiling Fan(s)
Dishwasher
Garbage Disposal
Microwave
Refrigerator
Bathroom Grab Bars
Intercom System
Sprinkler
Energy Saving Windows
vertical blinds
Central Heat & Air
Stove
Cable & Internet Ready
Mini Blinds & Curtain Rods
Cathedral Ceilings
Deluxe Cabinetry

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.

Section 515 Rural Rental Housing

This property has received funding in part through the Section 515 Rural Rental Housing (Section 515) program. Very low, low, and moderate income families, elderly persons, and persons with disabilities are eligible to live at this property. Persons or Families living in substandard housing have priority for tenancy.

Section 521 USDA Rental Assistance

The property participates in the USDA Rural Development Rental Assistance program. This rental subsidy, available only to USDA Section 514, 515 and 516 properties, ensures renters only pay 30% of their adjusted income towards rent. USDA Rural Development Rental Assistance may not be available for all units at this property.