Date of Release: 01/01/2010
Denver, CO – Monroe Group Ltd, a Denver-based property management firm, recently announced the addition of eight new properties to its portfolio.  As of January 1, 2010, Monroe Group assumed managerial duties over the eight properties which include Market Rate, Section 8, and Section 42 units.

Three of the properties are currently owned by Community Housing Development Association, Inc (CHDA) and are located in south metro Denver in Arapahoe County.   Willow Street Residences at 1351 S Willow Street, Lara Lea Apartments at 5540 S. Elati Street, and Presidential Arms Apartments at 3595 S. Washington Street are Section 42 properties and as a result are income restricted to households earning at or below 60% of the Area Median Income.  All three properties have been rehabilitated under the tax credit program since 2000. 

The remaining five properties are Westland Tower Apartments at 1430 Nelson Street in Lakewood, Terrace View Apartments at 12577 W. Dakota Ave in Lakewood, and Kipling Townhomes at 10215 W. 25^th Ave in Lakewood are all market rate units.  Castle Creek Commons and Castle Creek Commons East located at 220 S. Gilbert Street in Castle Rock contain market rate units as well as Section 8 units.

Liz Smith, Director of Operations at Monroe Group, stated “we are thrilled to include these eight properties in our rapidly expanding portfolio.  We have excellent staff who will work closely with the local communities to ensure that the properties provide quality housing to the residents.”

Monroe Group, Ltd. manages 30 multi-family properties totaling 2,274 units.  Its portfolio includes Project Based Section 8, Low Income Housing Tax Credit, mixed-income and conventional developments in Colorado, Indiana, Texas, North Carolina and Missouri.  Monroe Group believes that all people—regardless of their financial situation, age or abilities—deserve to live in clean, decent and safe homes and communities. Monroe Group is dedicated to improving communities by providing high quality affordable and conventional living opportunities.