Arvada to Move Forward on Much-Needed Affordable Housing Project

Arvada, Colorado doesn’t have much in the way of affordable housing. According to the Denver Business Journal, the town has tried to partner with builders for years but things just haven’t worked out. Mile High Development expects to change that.

Later this month it will start work on a $40 million, 102-unit affordable housing building at 925 Ralston Road. Called Ralston Gardens Apartments, the project will close to a Walmart Supercenter and a King Soopers market. It’s also next to Arvada Community Garden, where residents can rent out plots to grow their own plants.

Once built it will have one-bedroom, two-bedroom and three-bedroom options for residents whose area median income ranges from 30% to 80%. The project was awarded 4% federal and state low-income tax credits from the Colorado Housing and Finance Authority in 2021. The project was also awarded $14 million in federal tax credits and $4 million in state tax credits.