Ripley Gardens

301 Penn Ave N, Minneapolis, Minnesota 55405

Contact Ripley Gardens

Offering a blend of affordable and market rate rentals, Ripley Gardens boasts unique living in a historic property that dates to the early 1900s. Ripley Gardens is the historic preservation of the Ripley Memorial Hospital.

This award-winning property showcases Aeon's commitment to sustainable design - boasting rain gardens, a beautifully landscaped courtyard, underground parking and a playground.

The mixed-income development also features eight townhomes, developed in partnership with Twin Cities Habitat for Humanity to meet the neighborhood's desire to have home ownership opportunities.

Ripley Gardens is on the National Register of Historic Places and the Minneapolis Historic Register. Since opening in 2007, it has received local and national recognition for Aeon's commitment to creating a valuable community asset through historic preservation and sustainable design.

Ripley Gardens is one of 12 recipients to receive funding from the national Restore America program, a partnership of the National Trust for Historic Preservation and HGTV. The property was highlighted in public service announcements on HGTV.

The restoration of this once-vacant site helped fulfill the Harrison Neighborhood Association's aims to improve housing, support business creation, add affordable and market-rate rental housing, and increase homeownership opportunities.

Learn more about the development of Ripley Gardens and the Ripley History.

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	454	$429
One Bedroom (1/1)	650	$895
Two Bedroom (2/1)	819	From $950 To $1,099
Three Bedroom (3/1.5)	1231	$1,094

Eligibility for Ripley Gardens

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 Ripley Gardens.

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

Ripley Gardens Details

9 studio, one, two and three bedroom units.
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Playground
Community Room
On-Site Manager
Underground Parking
Landscaping
Smoke Free
On Bus-line
On-Site Laundry
Free High Speed Internet Access

Unit Amenities

Handicapped Accessible
Scenic View
Stainless Steel Appliances

Office Hours

Day	Hours
Monday	10:00am-5:00pm
Tuesday	10:00am-5:00pm
Wednesday	10:00am-5:00pm
Thursday	10:00am-5:00pm
Friday	10:00am-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.