StarRise at North Weld Village Grand Opening

Congratulations to StarRise at North Weld Village in Greeley, which held a grand opening event this month. CHFA was proud to celebrate with High Plains Development Corp and support StarRise at North Weld Village and its residents. The development offers 58 units of supportive housing for individuals exiting homelessness. All units will be supported by vouchers from the Colorado Division of Housing (DOH). The lead service provider, Volunteers of America Colorado, along with North Range Behavioral Health and Sunrise Health, will offer behavioral therapy, case management, employment services, and assistance with daily living skills.

CHFA was proud to support StarRise at North Weld Village with $2 million in financing through the Small Multifamily Permanent Loan (SIMPLE) program. SIMPLE provides up to $3 million in uninsured permanent financing for 9 percent Housing Tax Credit projects. In addition, CHFA supported the development with an $800,000 Capital Magnet Fund (CMF) loan and $200,000 CMF grant. 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 Area Median Income (AMI). CHFA also supported the development with an award of $1.45 million in federal 9 percent Housing Tax Credits.

If you are applying for federal 9 percent Housing Tax Credits in the 2026 Round One Housing Tax Credit Application round, consider pairing with CHFA’s loan programs. CHFA’s Sizeable Multifamily Affordable Risk Share Tool (SMART) and Small Multifamily Permanent Loan (SIMPLE) programs offer you additional adaptability to meet the collateral needs of your project, and both are available with terms up to 40 years.

Please reach out to the Multifamily Lending team at MF-Lending@chfainfo.com if you would like a letter of interest from CHFA for permanent financing through the SMART or SIMPLE program to provide with your application. The 2026 Round One Housing Tax Credit Application deadline is February 2, 2026.

Thank you to our customers and industry partners for a successful year of CHFA Multifamily Lending. We appreciate your input, trust, and continued support. CHFA is continually working to improve our processes and expand resource availability. That includes our recent update making our multifamily loan closing process faster and more streamlined to get your project moving forward more quickly. You can find additional details about the update at chfainfo.com/open-doors. We look forward to working with you in 2026.

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.