Knollwood Square Apartments

About This Building

Program Type: Section 42 - Income Restrictions for Affordable Housing Introduction: If you are searching for an economical housing option, these rental apartments offer support through the LIHTC program, ensuring the availability of applicable rent and income restrictions. LIHTC and its Benefits: The LIHTC program provides incentives to builders and developers to create affordable housing for individuals with low incomes. The maximum rent charged is determined based on the Area Median Income (AMI). However, please note that due to the AMI, this apartment might still be above the affordability range for low-income individuals. It is advisable to check the current rental rates to determine if it fits your budget. Section 42 Credits: The LIHTC credits are commonly referred to as Section 42 credits, derived from the relevant section of the Internal Revenue Code. Availability and Qualifications: Considering the high demand for apartments these days, it is likely that there may be waiting lists. To apply and check if you qualify for residency, please contact the management directly using the provided phone number. Important Reminder: For the application process, it is crucial to include and verify the income of all adults who will be residing in the apartment. Please call for more detailed information. Services and Amenities: - Professionally Managed - Affordable Rents - Inclusive of Heat, Water, Sewer, and Trash - Accessible Unit Available - Convenient Community Room - Cable Hook-Ups Contact Information: For inquiries and applications, please reach out to CEPCO Management & Development at the following address: 32 Tenth Ave. S, Suite 109, Hopkins, MN 55343.