Lincoln Avenue Communities Commissions New Housing Initiative
Business and community leaders came together to celebrate a significant milestone as Lincoln Avenue Communities (LAC) hosted a groundbreaking ceremony at the future site of Marshall Pointe Apartments. This exciting new development will feature a four-story, 260-unit affordable housing community, aimed at providing accessible living options for families.
Understanding the Marshall Pointe Apartments
Marshall Pointe is designed to offer a range of housing solutions, primarily consisting of one- and two-bedroom units. The apartments will cater to residents whose incomes fall between 30% to 70% of the Area Median Income (AMI), ensuring that individuals and families can find affordable living amidst growing urban environments.
A Space for Community and Families
The community spaces at Marshall Pointe are thoughtfully designed to foster a sense of belonging among residents. There will be two distinct courtyards—the adult-focused courtyard will feature amenities like a covered dining area, hammock grove, flexibility for lawn games, and lush landscaping. Meanwhile, the children’s courtyard will include a playground, climbing wall, and a movie wall, ensuring ample opportunities for recreation and interaction.
Complete Living Experience
Residents can look forward to additional indoor amenities that enhance the living experience. These facilities include a fitness center, game room, package and mail rooms, and a lounge equipped with a kitchenette for social gatherings. Each apartment will be outfitted with modern finishes, such as stainless steel Energy Star appliances, walk-in closets, linen closets, and hard-surface countertops.
Partnerships for Supporting Families
Lincoln Avenue Communities is proud to collaborate with Family Tree, a non-profit organization dedicated to human services in the region. This partnership will ensure that 13 units within Marshall Pointe will serve as full-time permanent supportive housing. Notably, eight of these units will also include Project-Based Housing Choice Vouchers from the Arvada Housing Authority (AHA), reinforcing access to housing options for families in need.
Creating Pathways for Opportunities
The collaboration with Family Tree presents an incredible opportunity for residents transitioning from supportive housing to have an accessible route to Marshall Pointe. This approach aims to create a supportive corridor for housing advancement, thereby facilitating long-term residential stability for families.
Financing the Future
Marshall Pointe's development is backed by vital financing partnerships, showcasing a collaborative effort essential for successful community projects. The Colorado Housing and Finance Authority (CHFA) has generously provided Federal and State Tax Credits, alongside the permanent financing needed for the project. Additionally, the Colorado Department of Local Affairs contributed $5 million of bridge funding through the Operation Turn Key program, which enabled LAC to secure the land well in advance of construction financing.
Collaborators in Development
In addition to CHFA, further partners in this initiative include the National Equity Fund (NEF) and JP Morgan Chase, both of whom play crucial roles in supporting affordable housing developments nationwide.
About Lincoln Avenue Communities
Lincoln Avenue Communities is a leading developer, investor, and operator dedicated to affordable and workforce housing solutions. Their mission-driven approach aims to provide high-quality, sustainable homes for lower- and moderate-income individuals, seniors, and families across the United States. With a footprint in 28 states, LAC manages an impressive portfolio of over 170 properties that house more than 80,000 residents. Their commitment to community and quality is evident in every project they undertake.
Frequently Asked Questions
What is the purpose of the Marshall Pointe Apartments?
The Marshall Pointe Apartments are designed to provide affordable housing options for families, focusing on units for residents earning 30% to 70% of the Area Median Income (AMI).
What amenities will residents enjoy at Marshall Pointe?
Residents will have access to various amenities, including courtyards for both adults and children, a fitness center, game room, and a lounge, all designed to enhance community living.
How does LAC support residents in need?
LAC collaborates with Family Tree to offer supportive housing, ensuring that vulnerable families have a pathway to stable, affordable living.
Who financed the Marshall Pointe project?
The project received financing from the Colorado Housing and Finance Authority and various partnerships, ensuring resources for construction and sustainability.
What is the mission of Lincoln Avenue Communities?
LAC aims to provide sustainable, affordable housing solutions for lower and moderate-income individuals and families across the country, with a focus on community impact.
