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Affordable Housing
LIHTC Projects
Median Income
Racial Distributions
Population
Lamar Heights, a neighborhood in Arvada, Colorado, features Low-Income Housing Tax Credit (LIHTC) funded affordable housing. The area contains 115 units in LIHTC-funded projects, with 62 designated as low-income units. Based on the 2022 population of 7,612 and the national average household size of 2.61, the neighborhood is estimated to have approximately 2,916 housing units. LIHTC-funded affordable housing represents about 3.9% of the estimated housing inventory.
Lamar Heights has seen LIHTC-funded affordable housing development from 2003 to 2005. Sheridan Ridge Townhomes was completed in 2003, followed by Willow Green Townhomes in 2005. This indicates that affordable housing has been part of the neighborhood for nearly two decades.
The two LIHTC projects in Lamar Heights offer various unit sizes. The inventory includes 5 one-bedroom units, 29 two-bedroom units, 27 three-bedroom units, and 1 four-bedroom unit. This distribution suggests an emphasis on accommodating families of different sizes within the affordable housing stock.
Willow Green Townhomes, completed in 2005, provides 59 low-income units, while Sheridan Ridge Townhomes, completed in 2003, contributes 3 low-income units out of its 56 total units. This difference in low-income unit allocation between the two projects may reflect different development strategies or funding structures.
Over the past decade, Lamar Heights has experienced demographic shifts. The population has fluctuated moderately, growing from 7,108 in 2013 to 7,612 in 2022. Median income has increased substantially, rising from $65,430 in 2013 to $75,530 in 2022, representing a 15.4% growth over this period.
Racial distribution in the neighborhood has remained relatively stable, with the white population consistently representing the majority. There has been a slight increase in diversity, with small increases in Asian, Black, and multiracial populations. The Hispanic population has fluctuated between 18% and 28% over the years, settling at 20% in 2022.
The absence of new LIHTC projects in the last decade may be related to the rising median income in the area, potentially reducing the perceived need for additional affordable housing. However, other affordable housing programs not captured in this data may be addressing local needs.
Lamar Heights' LIHTC-funded affordable housing stock, while modest compared to the estimated total housing units, provides an important resource for low-income residents. The two existing projects, developed in the early 2000s, offer a range of unit sizes to accommodate diverse household needs. While no new LIHTC projects have been developed recently, the neighborhood has experienced income growth and slight increases in diversity. These demographic shifts may influence future affordable housing needs and development strategies in Lamar Heights.