Stone Arch II

520 2nd St SE, Minneapolis, Minnesota 55414

Contact Stone Arch II

Stone Arch Apartments 2 is a stylish community of 91 affordable apartments in the highly sought after neighborhood of St. Anthony Main. Great river views and close proximity to Downtown and the U of M make the location one of the best in the Twin Cities. The project consists of a six story building with two levels of underground parking. The design compliments the evolving change of character that is occurring in the neighborhood. The building is slender and elegant in profile, yet muscular in presence, representing the industrial form of the area. Many green features and sustainable materials are incorporated into the design and construction. Stone Arch 2 participates in the Section 42 affordable rental program. Residents enjoy the best of all worlds: high quality construction, amazing amenities and affordable rents!!!

Unit (Bd/Ba)	Ft²	Rent
Studio (Studio/1)	359	Call for Price
One Bed One Bath (1/1)	488	Call for Price

Eligibility for Stone Arch II

Stone Arch II Details

91 studio and one bedroom units.
HOME Investment Partnerships Program
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

Property Amenities

Controlled Access
Elevator
Fitness Center
BBQ and Picnic Area
Community Room
Business Center
On-Site Manager
Garage
Bicycle Storage
On-Site Maintenance
Laundry Facilities
Smoke Free

Unit Amenities

Air Conditioning
Dishwasher
Microwave
Spacious Closets
Refrigerator
Private Patio and Balcony
Energy Efficient Appliances

Nearby Amenities

Close to Public Transportation

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.

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.