Prescott Housing Authority

St. Croix Manor and Watertower Apartments

Welcome to the Prescott Housing Authority, providing affordable, well-maintained rental homes to senior citizens and persons with disabilities. There are two choices to suit your independent living lifestyle. You will enjoy the affordable rent, the wonderful neighbors, and quiet neighborhood. Whether you play cards, bingo or enjoy gardening, living in one of our communities will make you feel right at home.

St. Croix Manor and Watertower Apartments offer a quiet little corner for you to call home, near banking, the public library and shopping. The River Falls Housing Authority professionally manages the properties with excellent administrative and maintenance staff. Call our office today for more information on your new home. We offer well-designed and affordable homes that fit your budget. Come see us today!

Does this sound like the place for you? Apply today!

The Details

Below you will find general information about St. Croix Manor and Watertower Apartments. This includes information on rent, funding and finances, building amenities and more. If you have any questions about either of these buildings, please contact our staff at RFHA. ​We are always happy to help!

Building

St. Croix Manor

  • Apartment

  • Built in 1980

Watertower Apartments

  • Apartment

  • Built in 1984

Units

St. Croix Manor

  • 24 total units

  • All one bedroom units

Watertower Apartments

  • 24 total units

  • All one bedroom units

  • List Item

  • 2 units are handicapped accessible

Preference

  • Designated for persons 62+

  • Designated for persons who are disabled

Income limits

  • $54,950 for 1 person

  • $62,800 for 2 persons

Amenities

  • Spacious one bedroom apartments
  • Beautiful galley kitchen with stove, refrigerator and updated cabinetry
  • Roomy bedrooms with large closets
  • Large deck or patio
  • Heating and cooling controlled by tenant
  • Plentiful storage throughout unit
  • Large community room with full kitchen access
  • Off-street parking
  • Hook up for cable, telephone and internet
  • On-site laundry available 

Rent

Tenant rent is 30% of the household income but no less than the minimum rent. However, two forms of rent assistance are available to reduce tenant rents. In St. Croix Manor, Section 8 Multifamily subsidy pays the difference between the tenant’s portion and the rent. In Watertower Apartments, 19 of 24 apartments receive Rural Development Rental Assistance which subsidizes the difference between 30% of a tenant’s income and the minimum rent.

St. Croix Manor1 Bedroom
Rent$568
Watertower1 Bedroom
Minimum rent$436
Maximum rent$670

FINANCES

Rent pays the operating costs. Minimum and maximum rents are budget based. The minimum rent is the monthly per unit cost of routine operating costs. The minimum rent includes paying the mortgage on this property at 1% interest rate. These buildings have an interest credit to reduce the of operating. The maximum rent includes a mortgage  payment at the note rate as stated when the mortgage was originally loaned to the Housing authority.

In St. Croix Manor, HUD approves an annual rent increase.  In Watertower Apartments, USDA Rural Development and the Board of Commissioners approve the operating budget and rent change annually. Routine operating expenses include replacement of appliances and carpets as needed. Budget planning takes into account anticipated unit turnover and costs to prepare units for re-rental. HUD approves any rent increases for St. Croix Manor.

A Reserve for Replacement account is a separate account for capital improvements. Monthly deposits are made to the project reserves. Rural Development approval is needed for any expenditure from the Reserve account.

FEDERAL PROGRAMS:

  • USDA Rural Development
  • HUD Section 8 Multifamily

FUNDING:

  • Multifamily Direct Loan Section 515
  • HUD Section 8 Multifamily
  • ​USDA Section 521 Rental Assistance

Map

Both buildings are located in Prescott, WI. St. Croix Manor is located at 1028 Borner St. and Watertower apartments are located at 1531 James St.

C O N T A C T   U S

Let’s talk housing.

River Falls Housing Authority professionally manages the properties with excellent administrative and maintenance staff. Contact our office today for more information on your new home.

Business hours:

Monday and Wednesday from 8:30 a.m. to 5 p.m.

Tuesday and Thursday are Closed

Fridays are open by appointment only