Proposition 123:

Program Updates

December 17, 2025

Equity Program Selections Announced

CHFA and OEDIT are proud to announce the preliminary selections for funding from the Proposition 123 Equity program. The five selected projects total $52 million in funding, and final details will be determined during the full underwriting process. Together, the projects represent an estimated 654 affordable apartments serving residents with incomes between 30 percent and 120 percent of the Area Median Income (AMI). The list of selected projects and their locations is included below, and additional details about Equity program selections are published on the Affordable Housing Financing Fund website. 

• 121 Main Street (Longmont)
• 1600 Pearl Street (Denver) 
• Bristow House (Colorado Springs)
• Ingraham Wright (Pueblo)
• Liberty Apartments (Grand Junction)

CHFA accepted applications for the Equity program from August 25, 2025, through September 17, 2025. A total of 20 applications were received representing $167 million in funding requests. Applications were carefully evaluated by CHFA and OEDIT against priorities established by the statue and additional strategic policy priorities outlined in the program guidelines and the Affordable Housing Financing Fund Fiscal Year 2026 Funding Plan. Applications for the next round of funding will be accepted beginning in January 2026.

The Equity program provides below-market-rate equity investments to eligible for-profit and nonprofit entities for the construction or preservation of low- and middle-income multifamily rental developments. A Tenant Equity Vehicle (TEV), funded through Proposition 123 program earnings, will be established by OEDIT, CHFA, and a third-party administrator to benefit the residents of developments that receive Equity financing.

Questions about the Equity program may be submitted to equity@chfainfo.com, and more information about the program is available on the Affordable Housing Financing Fund website.

Contact

ColoradoAffordableHousingFinancingFund.com

AHFF@chfainfo.com

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable federal, state or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm MT.