Rental Information

Call 866-851-4321 to reserve your apartment today.

The Tax Credit Program

The Commerce Building is proudly part of the tax-credit program. As a participant, we are able to provide you with unique apartments at prices that still fit within your budget.

Tax Credit apartments are governed by section 42 of the IRS code, which is why they are sometimes called Section 42 housing. This program was set in place in the 1980’s as a program designed to assist median income households. At The Commerce Building we have one and two bedroom 50% and 60% apartments. Since the rental rates and income limits change each year based on the income of the area, please call us at 651-292-0200 to find out what our current rates are.

The other main requirement of the tax-credit program is that at least one person has not or will not be a full time student during the current calendar year unless you are:

  • married and entitled to file joint taxes
  • a single parent claiming your child on your taxes
  • participating in a state or federal job training program
  • a recipient of public assistance, or;
  • one member of your household was in foster care within the last five years

For more information on the tax-credit program in Minnesota, visit the Minnesota Housing Finance Agency’s website at www.mnhousing.com.

Lease Terms

  • 6, 9, and 12 Months Only
  • No Felonies
  • No Evictions

Deposits and Fees

  • Application Fee: $28/Adult
  • Deposit: $400
  • Pet Deposit: $250

Parking

Parking is available in the Victory and Lowertown Ramps. The Victory Ramp, which is offering a 50% discount to the Commerce Building, is located across the street and has a heated parking option.

Utilities and Appliances

All utilities except electricity are paid. All apartments include a refrigerator, stove, and hood. There are card-operated washer and dryer facilities on each floor.

Pet Policy

Cats and dogs under 30 pounds are welcome with a $250 deposit.