The Louis

3001 4th Street Southeast, Minneapolis, Minnesota 55414

Contact The Louis

The Louis Apartments offers 70 new homes that opened in 2019 and is located in the Prospect Park Neighborhood of Minneapolis. Prospect Park is situated between the University of Minnesota to the west, St. Paul to the east, University Avenue to the north and the Mississippi River to the south. The Louis is just north of University Avenue and It is a block away from the Metro Green Line Train - Prospect Park Station. Across the Street is Fresh Thyme Farmer's Market and is close by to many shops, restaurants, businesses and parks, including the historic Witch's Tower.

Unit (Bd/Ba)	Ft²	Rent
2 Bedroom (2/2)	935	Call for Price

Eligibility for The Louis

The Louis Details

65 two bedroom units.
HOME Investment Partnerships Program
Section 811 PRA
Low-Income Housing Tax Credit (LIHTC)

Property Amenities

Controlled Access
Elevator
Fitness Center
BBQ and Picnic Area
Community Room
On-Site Manager
Garage
Bicycle Storage
Energy Star Appliances
Laundry Facilities
Courtyard

Unit Amenities

Central Air
Dishwasher
Microwave
Carpet
Blinds
Programmable Thermostats

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.

Section 811 PRA

Some of the units at this property have received funding through HUD's Section 811 Project Rental Assistance (PRA) Program. For these PRA funded units, tenants must be extremely low-income (at or below 30% of Area Median Income) and at least one adult member of the household must have a disability. The person with the disability must be eligible for community-based, long-term services as provided under the state’s plan for medical assistance under Title XIX of the Social Security Act (Medicaid), state funded services or other appropriate services defined in the written partnership agreement.

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.