EXHIBIT 21.1

AFFORDABLE RESIDENTIAL COMMUNITIES INC.
LIST OF SUBSIDIARIES

Company Name				Jurisdiction Organized
Affordable I, L.L.C.					Delaware
Affordable III, L.L.C.					Delaware
Affordable Residential Communities LP					Delaware
ARC Brokerage, L.L.C.					Delaware
ARC Communities 1 LLC					Delaware
ARC Communities 2 LLC					Delaware
ARC Communities 3 LLC					Delaware
ARC Communities 4 LLC					Delaware
ARC Communities 5 LLC					Delaware
ARC Communities 6 LLC					Delaware
ARC Communities 7 LLC					Delaware
ARC Communities 8 LLC					Delaware
ARC Dealership, Inc.					Colorado
ARC Housing LLC					Delaware
ARC III, L.L.C.					Delaware
ARC Insurance Services, Inc.					Delaware
ARC Insurance Services, L.L.C.					Wyoming
ARC IV REIT, Inc.					Maryland
ARC Management Services, Inc.					Delaware
ARC MEZZ 1 LLC					Delaware
ARC MEZZ 2 LLC					Delaware
ARC MEZZ 3 LLC					Delaware
ARC MEZZ 4 LLC					Delaware
ARC MEZZ 5 LLC					Delaware
ARC MEZZ 6 LLC					Delaware
ARC MEZZ 7 LLC					Delaware
ARC MEZZ 8 LLC					Delaware
ARC Opportunity Fund, L.L.C.					Delaware
ARC Property Management, L.L.C.					Delaware
ARC Real Estate Holdings, LLC					Delaware
ARC Real Estate Services, L.L.C.					Colorado
ARC Real Estate, LLC					Delaware
ARC SPEI I, L.L.C.					Delaware
ARC SPEI II, L.L.C.					Delaware
ARC TRS, Inc.					Delaware
ARC3NC, L.L.C.					Delaware
ARC4BFND, L.L.C.					Delaware
ARC4FL, L.L.C.					Delaware
ARC4MEZ, L.L.C.					Delaware
ARC4NY, L.L.C.					Delaware
ARC4TX, L.L.C.					Delaware
ARC4UT, L.L.C.					Delaware
ARCCOGM LLC					Delaware
ARCD LLC					Delaware
ARCFLCS LLC					Delaware
ARCFLH LLC					Delaware
ARCGE LLC					Delaware
ARCHAR LLC					Delaware

Company Name				Jurisdiction Organized
ARCHC LLC					Delaware
ARCHomesmart, L.L.C.					Delaware
ARCI LLC					Delaware
ARCIV GV, Inc.					Delaware
ARCIV SPE, L.L.C.					Delaware
ARCMEZ3, L.L.C.					Delaware
ARCMEZII, L.L.C.					Delaware
ARCMOBV LLC					Delaware
ARCMS, Inc.					Delaware
ARCSBN LLC					Delaware
ARCTXTP LLC					Delaware
ARCVP LLC					Delaware
Colonial Gardens Water, Inc.					Kansas
Enspire Finance LLC					Delaware
Enspire Holdings LLC					Delaware
Enspire Insurance LLC					Delaware
Enspire LLC					Delaware
Enspire Management Services LLC					Delaware
Foremost Brokerage, L.L.C.					Colorado
Salmaho Irrigation Co.					Utah
Windstar Aviation Corp.					Delaware