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.
Other News
Multifamily Refinancing Squeeze: 41% Higher Costs, $6.8B Equity Gap
Multifamily owners with loans coming due are faced with higher refinancing costs. While this isn’t news, Newmark put numbers to the issue, indicating that loans maturing in Q3 2026 carried an average interest rate of 4.04%, compared to 5.69% on new loans at an average cap rate of 5.5%, resulting in negative leverage. At the...
Learn more
Mortgage Rates Tilt Demand Toward Multifamily: Marcus & Millichap
An increase in mortgage rates is cooling home sales, with multifamily the biggest beneficiary, according to John Chang, senior vice president at Marcus & Millichap. In a recent video, Chang said that the 10-year Treasury has risen by more than 100 basis points, and the 30-year mortgage rate is up about 130 bps to the...
Learn more
Revere, MA Weighs 1,700-Unit Housing Project
The city of Revere is eying a large redevelopment plan that would create 1,700 new affordable and market-rate homes about five miles northeast of downtown Boston. The Revere Housing Authority presented a proposal to the Revere City Council last week requesting a zoning change that would allow for development on a 40-acre site at Cooledge...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout