260 Affordable Housing Units Planned for Arvada
Lincoln Avenue Communities (LAC) has broken ground on a 260-unit affordable housing project in Arvada that will cater to residents earning between 30 and 70% of the area median income. Located at 5190 Marshall Street, Marshall Pointe Apartments will feature two courtyards, one for children and another for adults. Additionally, the project will include a gym, game room and lounge. The development is slated for completion in the second half of 2026.
Commercial Edge reports financing for the project included two separate construction notes issued by JPMorgan Chase, of $63 million and $33.7 million. Additional funds came from the state and various state and local housing authorities.
The project marks LAC’s second ground-up development in metro Denver. Its first such community in the market is InterQuest Ridge Apartments, a 240-unit property in Colorado Springs, Colo., that came online last year.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout