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Lamar Station Crossing is Awarded Tax Credits

Metro West Housing Solutions

LAKEWOOD, COLO — Metro West Housing Solutions (MWHS), a nonprofit developer and manager of
affordable apartment communities, is pleased to announce the agency was awarded Low Income Housing
Tax Credits (LIHTC) for Lamar Station Crossing (LSC) Phase II, a continuation of their wildly successful
Lamar Station Crossing campus located in the 40West Art District, less than one block from RTD’s W Line
Light Rail.
Phase II of Lamar Station Crossing will provide an additional 65 units of affordable housing—ranging from
20 – 80% AMI—to the national award-winning LSC campus, which already includes an innovative outdoor
classroom, ample outdoor community space, lush community gardens, an Artist in Residence program in
partnership with 40West Art District and Rocky Mountain College of Art and Design, and on-site resident
services. Phase II will also achieve the prestigious Zero Energy Ready Home Certification.

The Colorado Housing and Finance Authority (CHFA), the allocating agency of federal and state LIHTC in
Colorado, approved Lamar Station Crossing Phase II for competitive 9% tax credits, with a reservation of
$1,240,588 in annual credits.

Lamar Station Crossing Phase II is “shovel-ready,” with building permits in hand, site plan approval from the
City of Lakewood, construction pricing locked in, interior finishes selected, and a majority of infrastructure
complete with Phase I. MWHS is anticipating completion in August 2021.

The LIHTC encourages the development of properties with below-market rents for low-income households
by providing tax credits as an incentive to developers. The award program is a highly competitive process
that requires applicants to outline the merits of their proposed housing developments. It is estimated that
only a quarter of proposals receive tax credits in a given year.

“The need for affordable housing in Lakewood has reached an all-time high. Our waitlists are in the
thousands and growing daily,” said Tami Fischer, Executive Director and CEO of MWHS. “The current and
unpredictable environment is only going to further increase the need for safe, well-managed affordable
housing. We are so excited to move forward in completing the Lamar Station Crossing campus and look
forward to offering additional affordable housing in the Two Creeks Neighborhood.”

More About Lamar Station Crossing
• Estimated completion: August 2021
• 65 Units: 3 Studio; 27 1-Bedroom; 28 2-Bedroom; 7 3-Bedroom
• 9% Credit Awarded: $1,240,588