The Uptown area of Minneapolis consists of a large number of restaurant and retail establishments. Many people who live in Uptown and work at these locations earn less than 60% of the Area Median Income (AMI). Additionally, many people who live in (or want to live in) Uptown do not own a car.
Before Buzza Lofts opened there were only two other known projects in the Uptown area that restricted rents to affordable levels, and the demand for affordable housing in the area far outweighed the supply. Therefore, Buzza was designed to meet that demand. 100% of the units at Buzza are restricted to those at or below 60% AMI. The building also includes indoor and outdoor bike storage, off-street surface parking, a landscaped outdoor courtyard with patio and grilling area, and a rooftop deck. Additionally, a fitness/exercise room is available to every tenant, and is included in the rent.
Buzza was designed to meet the needs of the local community and, in fact, has far exceeded these goals, as evidenced by the fact it was 100% leased prior to completion of the renovation and continues to have a waiting list of over 100 people.
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