Within a HUD-designated Qualified Census Tract — LIHTC projects here receive a 30% basis boost, significantly increasing the tax credit allocation for affordable housing development.
HUD — LIHTC Qualified Census Tracts ↗Affordable housing developments in QCTs receive a 30% increase in eligible basis for Low Income Housing Tax Credits — materially improving project feasibility. Allocated through MHFA.
HUD — LIHTC Qualified Census Tracts ↗Signals are based on public datasets; program eligibility requires verification.
2 permits on record since 2025 · Most recent: Dec 2025 (res)
CenterPoint Energy Resource Corp
Norblom Plumbing Co
Source: Minneapolis open data. Declared construction values are applicant-reported and may not reflect actual project cost.
Prospect Park - East River Road · Minneapolis
ACS rents reflect current tenant leases and may differ from new market rents.
Source: 2022 ACS 5-Year Estimates · Census Tract 1256
Zip code 55414
Source: Redfin Data Center (Invalid Date) · Zip 55414
Urban Neighborhood 2 — moderate-density residential
Setbacks
Estimated Buildable Footprint
Estimates based on typical zoning setbacks. Actual requirements may vary by lot, overlay, or conditional approval.
Back-of-envelope estimate based on small multifamily (2–4 units, wood frame) benchmarks for 3,565 sqft buildable area.
| Address | Owner | Class | Assessed Value | Distance |
|---|---|---|---|---|
| 1532 RIVER TER E MINNEAPOLIS MN 55414 | KAREN G WEEKS | RESIDENTIAL | $494,000 | 51 ft |
| 1524 RIVER TER E MINNEAPOLIS MN 55414 | ELLIOTT V & RASA TROUP | RESIDENTIAL | $493,000 | 53 ft |
| 1536 RIVER TER E MINNEAPOLIS MN 55414 | J C BLASCHKE/S M BOOGAARD | RESIDENTIAL | $504,500 | 101 ft |
| 1520 RIVER TER E MINNEAPOLIS MN 55414 | JENNIFER JOYCE SAHLIN | RESIDENTIAL | $509,000 | 103 ft |
| 1516 RIVER TER E MINNEAPOLIS MN 55414 | G & M CUNDY | RESIDENTIAL | $497,000 | 151 ft |
| 1540 RIVER TER E MINNEAPOLIS MN 55414 | MARY ANN SPRINGER | RESIDENTIAL | $420,900 | 151 ft |
| 1445 RIVER PKWY E MINNEAPOLIS MN 55414 | J A BUSSEY & A M BRUBAKER | RESIDENTIAL | $442,700 | 183 ft |
| 1501 RIVER PKWY E MINNEAPOLIS MN 55414 | J W WICKS & W K WICKS | RESIDENTIAL | $561,400 | 200 ft |
| 1544 RIVER TER E MINNEAPOLIS MN 55414 | LESLIE JANE YONCE | RESIDENTIAL | $506,000 | 200 ft |
| 1512 RIVER TER E MINNEAPOLIS MN 55414 | H-P DERUITER/M A B DERUITER | RESIDENTIAL | $483,800 | 201 ft |
Current Tax Year