Midtown Exchange Apartments

2929 Chicago Ave, Minneapolis, Minnesota 55407

Contact Midtown Exchange Apartments

Midtown Exchange presents loft-style apartment living with track lighting, oversize historic windows, vaulted ceilings and more. This community offers studio, 1, 2, and 3 bedroom apartments.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	500	From $781 To $1,047
1 Bedroom (1/1)	680	$1,120
One Bedroom+Den (1/1)	970	$1,120
2 Bedroom (2/1)	-	Call for Price
3 Bedroom (3/1)	-	Call for Price

Eligibility for Midtown Exchange Apartments

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 Minneapolis but actual income limits may differ for units at Midtown Exchange Apartments.

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

Midtown Exchange Apartments Details

20 studio, one, two and three bedroom units.
Water and Sewer utilities included in rent
Low-Income Housing Tax Credit (LIHTC)
HOME Investment Partnerships Program
Section 221 (d) (3)

Property Amenities

Controlled Access
Elevator
Clubhouse
24hr Emergency Maintenance
On-Site Maintenance
Laundry Facilities
High Speed Internet Access
On Bus-line

Unit Amenities

Central Air
Dishwasher
Vaulted Ceiling
Walk-in Closet(s)
Water Trash and Sewer Included
Intercom System

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.

HOME Investment Partnerships Program

This project has received some funding from a participating jurisdiction (local or state government agency) through the HUD HOME Investments Partnerships Program (HOME). In projects with five or more HOME-assisted units, at least 20% of these units must be occupied by families earning 50% or less of area median income (AMI). All other HOME-assisted units must be occupied by families earning 80% or less of AMI, but in practice most are reserved for families earning 60% or less AMI. Maximum monthly rent is capped with a Low HOME Rent for <50% AMI units and a High HOME Rent for the remaining HOME-assisted units. Contact the property directly for the specific dollar amount of these rent caps.