488 Castle Creek Road, Aspen, CO 81611
Waiting List Forecast: Likely Short or None
Verified for 2023 by Connor Bailey| Rent | Beds | Baths | SqFt |
|---|---|---|---|
| Call for Rents† | 1 - 2 Beds | 1 - 2 Baths | 700 - 900 Sq Ft |
This project has been funded and will begin construction soon.
488 Castle Creek is located on Castle Creek Road adjacent to the Marolt Trail which provides a short walk/bike ride to the Aspen Core. RFTA bus stops are also a short walk away providing service to all resort areas as well as the down valley communities of Basalt, Willits, Carbondale and Glenwood Springs. The project is comprised of ten 2-bedroom and fourteen 2-bedroom apartments with direct views of Red Mountain and the Castle Creek Valley. Each unit comes with one dedicated on-site parking space, fully equipped kitchens, mudrooms equipped with washer/dryer and onsite secured storage.
This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Castle Creek Apartments does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.
~ Dave Layfield, Founder of Affordable Housing Online
| Unit (Bd/Ba) | Ft2 | Rent |
|---|---|---|
| One Bedroom (1/1) | 700ft2 | Call for Price† |
| Two Bedroom (2/2) | 900ft2 | Call for Price† |
| AMI* | 1 person | 2 people | 3 people | 4 people |
|---|---|---|---|---|
| 50% AMI for LIHTC Units | $40,050 / year | $45,750 / year | $51,450 / year | $57,150 / year |
| 50% AMI for PBRA Units | $40,050 / year | $45,750 / year | $51,450 / year | $57,150 / year |
| 60% AMI for LIHTC Units | $48,060 / year | $54,900 / year | $61,740 / year | $68,580 / year |
*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
Does Castle Creek Apartments have a waiting list?
Castle Creek Apartments probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.
Are rents subsidized at Castle Creek Apartments?
We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.
What property management company manges Castle Creek Apartments?
Castle Creek Apartments is managed by Royal American Management headquartered in Panama City, Florida.
In addition to Castle Creek Apartments, how many other affordable housing properties (and units) are there in Aspen?
In addition to Castle Creek Apartments, we list 4 other affordable properties in Aspen. Learn about these properties here. Our data research shows that there are a total of 265 affordable units in Aspen.
NW of S. Aspen and W. Shreveport, Aspen, Colorado 81611
Always check the program's income limit.
Most federal housing programs serve renters earning 80% or less of the Area Median Income (AMI), or less.Francine Harris says:
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