Congratulations to Hughes Station in Brighton, which hosted a grand renovation event this month. CHFA is proud to celebrate with the Brighton Housing Authority and support Hughes Station and its residents in the renovation of 120 affordable apartments serving families earning between 30 percent to 60 percent of Area Median Income (AMI). Renovations will include new appliances, upgraded flooring, lighting, and making updates to bring the property into compliance with current ADA requirements, as well as structural and exterior upgrades.

CHFA recently provided $20.5 million in construction to permanent financing for the development. Construction to permanent loans finance larger 4 percent Housing Tax Credit properties using Private Activity Bonds (PAB) with CHFA as the senior lender (CAPABLE). The loan also includes a $500,000 Capital Magnet Fund (CMF) loan and $250,000 CMF soft loan. The CMF program provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Tax Credit developments located in eligible areas and with a preference for serving incomes at or below 50 percent of AMI. CHFA also supported the development with an allocation of $1,185,643 in federal 4 percent Housing Tax Credits in 2024 alongside $16,340,000 in PAB.

Pictured: Mike Fallesen, CHFA Commercial Loan Officer, Deb Bristol, Brighton Housing Authority Executive Director, and Terry Barnard, CHFA Manager, Multifamily Lending who attended the Hughes Station grand renovation event.

CHFA staff will be participating in the Colorado Real Estate Journal 2025 Affordable Housing Bus Tour on May 20th. CHFA is proud to be a sponsor for the event produced in partnership with Apartment Appraisers and Consultants and Community Builders Realty Services.

The event will include a discussion about the current state of affordable housing in Colorado, with a focus on supply and demand, rent trends, construction methods, and development trends. The tour will visit six affordable housing developments. Please reach out if you’d like to connect with CHFA during this event!

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.