Sandstone Square Apartments for Seniors

About This Building

Affordable Housing Option for Elderly or Disabled Individuals Program Type: Section 42 - Income Restrictions Introduction: If you are in search of affordable housing, we have 15 rental units specifically designed for elderly or disabled individuals. These apartments are supported by the LIHTC (Low Income Housing Tax Credit) program, which imposes specific rent and income restrictions to ensure affordable living for eligible individuals. Understanding LIHTC: The LIHTC program incentivizes builders and developers to construct affordable housing for low-income individuals. The maximum rent charged for these apartments is determined by the Area Median Income (AMI). However, it's important to note that the AMI might make this apartment unaffordable for some low-income individuals. We recommend checking the current rental rates to determine if it falls within your budget. Section 42 Credits: The LIHTC program is often referred to as Section 42 credits, denoting the relevant section of the Internal Revenue Code. Waiting Lists and Contact Information: Given the high demand for apartments, it is common for most apartment complexes to have waiting lists. In order to apply and see if you qualify for residency, we encourage you to reach out to the provided contact number directly. Important Considerations: When applying for this apartment, it is crucial to include and verify the income of all adults who are expected to reside in the unit. Please call for more details regarding this requirement. Services and Amenities: Our apartment complex offers a range of services and amenities to ensure a comfortable living experience: 1. Professional Management: The property is managed by CEPCO Management & Development to ensure efficient operations and maintenance. 2. Affordable Rents: We strive to provide affordable rental rates to accommodate diverse income levels. 3. Oak Cabinetry: All kitchens and bathrooms are equipped with oak cabinetry, adding a touch of elegance to your living space. 4. Heat/Water/Sewer/Trash Included: The cost of heat, water, sewer, and trash is already included in the rent, relieving you of additional financial burdens. 5. Cable Hook-Ups: Each apartment is equipped with cable hook-ups for your convenience. 6. Accessible Unit: We offer an accessible unit designed to cater to individuals with mobility challenges. 7. Community Room: Our complex includes a community room where residents can gather and socialize. Contact Information: For further inquiries or to begin the application process, please contact: CEPCO Management & Development Address: 32 Tenth Ave. S, Suite 109, Hopkins, MN 55343