LAC Breaks Ground on Metro Denver Affordable Project
Marshall Pointe Apartments will be reserved for residents earning between 30 and 70 percent of the AMI.
Lincoln Avenue Communities has broken ground on a 260-unit affordable housing project in Arvada, Colo. Dubbed Marshall Pointe Apartments, the development is slated for completion in the second half of 2026.
Marshall Pointe Apartments will cater to residents earning between 30 and 70 percent of the area median income. Additionally, 13 of the units will be set aside for formerly homeless individuals and will benefit from supportive services provided by Family Tree.
Located at 5190 Marshall St., the development is roughly 9 miles northwest of downtown Denver. Numerous public transit stops, parks, as well as a lake and a river, can be found within walking distance.
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The development will feature mostly one- and two-bedroom units. Planned features will include two courtyards, one for children and another for adults. Additionally, the project will include a gym, game room and lounge, among other amenities.
The capital stack included two separate construction notes issued by JPMorgan Chase, of $63 and $33.7 million, according to Yardi Matrix data. Additional funds included $800,000 in state and $5.7 million in federal LIHTC issued by Arvada Housing Authority and Colorado Housing and Finance Authority. National Equity Fund and the Colorado Department of Local Affairs provided a $5 million bridge loan to aid LAC in the acquisition of the development site.
The project marks LAC’s second ground-up development in metro Denver, according to a company statement. Its first such community in the market—but also nation-wide—is InterQuest Ridge Apartments, a 240-unit property in Colorado Springs, Colo., that came online last year.
Aiming to tackle affordable housing supply challenges, LAC kicked off 17 such projects last year, as reported by Housing Finance. The figure marked an 88 percent increase year-over-year. What’s more, the company expects to keep up the pace in 2025, maintaining construction starts within the same ballpark.
Denver’s affordable completions peaked in 2024
As of June, metro Denver’s pipeline consisted of nearly 4,000 units in fully affordable projects, according to Yardi Matrix data. The figure made up 14.8 percent of the total under-construction pipeline.
Income-restricted deliveries peaked in the market, reaching north of 2,600 units in 2024 and marking a 25.2 percent increase year-over-year, the data provider shows. Completions are expected to drop this year, settling at 2,178 such apartments.
Arvada is set to expand its affordable housing inventory as another project is underway, also along Marshall Street. Dubbed after the thoroughfare, the 85-unit project broke ground last year. BlueLine Development, Boston Financial and Family Tree are behind the development, according to Yardi Matrix data.
