Riverside Homes

Multiple Addresses, Minneapolis, Minnesota 55454

Riverside Homes consists of 191 units in 74 buildings scattered throughout the Cedar East, Riverside Park and 7-Corners neighborhoods of Minneapolis. The housing was originally re-developed by the West Bank CDC in the 1980s to implement plans generated by neighborhood residents to maintain lower density housing and preserve affordability. There are 135 units in rehabbed houses and 56 units in townhomes that were constructed in 1983-1984. 103 of the units are project-based Section 8. All residents must meet the eligibility requirements of the Low- Income Housing Tax Credit program.

Unit (Bd/Ba)	Ft²	Rent
1 Bedroom (1/1)	-	Call for Price
2 Bedroom (2/1)	-	Call for Price

Eligibility for Riverside Homes

Riverside Homes Details

191 one and two bedroom units.
Scattered Sites
Low-Income Housing Tax Credit (LIHTC)
Section 8 New Construction
Section 8 Project-Based Rental Assistance (PBRA)
Section 221 (d) (3)

Unit Amenities

Trash Included
Water Included

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 8 Project-Based Rental Assistance (PBRA)

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.