Park Terrace Apartments

8538 W 53rd Ave, Arvada, Colorado 80002

Contact Park Terrace Apartments

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.

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

Eligibility for Park Terrace Apartments

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%	$26,100	$29,800	$33,550	$37,250	$40,250	$43,250
50%	$43,450	$49,650	$55,850	$62,050	$67,050	$72,000
80%	$66,300	$75,750	$85,200	$94,650	$102,250	$109,800

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%)	$43,450	$49,650	$55,850	$62,050	$67,050	$72,000
Low Income (60%)	$52,140	$59,580	$67,020	$74,460	$80,460	$86,400

Park Terrace Apartments Details

108 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 (PBRA)
Low-Income Housing Tax Credit (LIHTC)
Section 221 (d) (3)

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 (PBRA)

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.