News
Ground breaks on affordable housing complex - LincolnPointe Lofts (05/31/07)
05/31/2007
By Stephanie Thompson , Staff Writer
Shovels hit the soil May 24 for new affordable housing near Lincoln Station in
LincolnPointe Lofts will add 88 affordable rental units to the 133 units completed in 2004.
"LincolnPointe is indistinguishable from other apartments in the area," said Craig Maraschky, executive director for the Douglas County Housing Partnership. "People don't know they are affordable housing because it blends in with the community."
Douglas County Housing Partnership and MBR Development are partnering to construct the project, which is paid for by the sale of tax-exempt private activity bonds, money received from Colorado Division of Housing and Community Development Block Grants, and low income housing tax credits.
One-bedroom apartments at Remington and AMLI complexes in Lone Tree start above $700 per month.
A one bedroom at LincolnPointe will start at $650 for one person; the price is adjusted for the number of people per household. That rent is based on median income in the
For residents such as Allan Price, who works at Park Meadows and American Furniture Warehouse, the lofts make it possible to live where they work. Price recently moved to the area from
"I was very fortunate because I knew where I wanted to be and I saved a significant difference in rent," Price said.
The first phase of Lincoln Pointe Lofts was completed in 2004 and has no vacancies.
LincolnPointe Lofts is the only affordable housing community in the
The
Construction on the second phase is scheduled to be completed by spring.