Park Terrace Apartments

8538 W 53rd Ave, Arvada, Colorado 80002

Park Terrace Apartments is an affordable community. They offer 1, 2, and 3 bedroom floor plans. Contact the property for current availability. Rent is based on income. Waitlist placement and income limit restrictions may apply. Amenities and features: appliances included, laundry facility, playground, and more! Applicants should bring the following documentation: original birth certificate(s), original social security card(s), current government issued photo I.D.(s) for anyone 18 years of age or older, proof of income/pay stubs. Equal Housing Opportunity.

Contact Park Terrace Apartments

Message Park Terrace Apartments

Units

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) 676 Income Based
2 Bedroom (2/1) 807 Income Based
3 Bedroom (3/2) 998-1207 Income Based

Park Terrace Apartments Details

  • 96 one, two and three bedroom units.
  • Townhouse
  • Water and Sewer utilities included in rent
  • Heat utility included in rent
  • Section 8 Project-Based Rental Assistance
  • Low-Income Housing Tax Credit (LIHTC)

Property Amenities

  • Playground
  • Laundry Facility

Office Hours

Day Hours
Monday 9:00am-4:00pm
Tuesday 9:00am-4:00pm
Wednesday 9:00am-4:00pm
Thursday 9:00am-4:00pm
Friday 9:00am-4:00pm

Section 8 Project-Based Rental Assistance

Since this property has a Project-Based Section 8 contract with HUD, some or all of the rents at this community are based on tenant incomes. Tenants leasing units participating in the Section 8 Project-Based Rental Assistance program typically contribute less than 30% of their adjusted income towards rental costs.

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

Arvada HUD Rental Assistance Income Qualifications

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in a HUD rental assistance program in Arvada but actual income limits may differ for units at Park Terrace Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person
30% $24,650 $28,150 $31,650 $35,150 $38,000 $40,800
50% $41,050 $46,900 $52,750 $58,600 $63,300 $68,000
80% $62,600 $71,550 $80,500 $89,400 $96,600 $103,750

Arvada Low-Income Housing Tax Credit Income Limits

Generally, households earning up to the income limit in the table below for their household size are eligible for units participating in the Low-Income Housing Tax Credit program in Arvada but actual income limits may differ for units at Park Terrace Apartments.

AMI Band 1 Person 2 Person 3 Person 4 Person 5 Person 6 Person
Very Low Income (50%) $41,050 $46,900 $52,750 $58,600 $63,300 $68,000
Low Income (60%) $49,260 $56,280 $63,300 $70,320 $75,960 $81,600

Park Terrace Apartments is managed by Avail Property Mangement, Inc..

Image of Park Terrace Apartments
Image of Park Terrace Apartments
Image of Park Terrace Apartments
Image of Park Terrace Apartments
Image of Park Terrace Apartments

Nearby Low Income Apartment Communities

Allison Pointe Apartments

7850 W 51st Ave
Arvada, Colorado
$1,350-1,800
2-4 BR