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With over 45 years of experience, CHFA Multifamily Lending is your trusted partner. Together, we can build stronger communities by providing safe, secure, and
affordable homes for our fellow Coloradans.
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featured development: prairie run apartments | |
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CHFA recently supported Prairie Run Apartments in Hayden with a $6,000,000 construction to permanent Middle-income Access program (MIAP) loan. MIAP supports the development of housing to serve renters with middle incomes, sometimes referred to as the “missing middle,” with incomes too high for Housing Tax Credit units, but who are often overburdened by market rents.
Developed by Gorman & Company, LLC, Prairie Run Apartments includes 135 units which are a mix of affordable apartments, townhomes and Live Work units. The Live Work units have an added work area with an extra door to the outside, allowing the units to be used for small business operations, while keeping the home area separate from the work area. Prairie Run will offer rental housing for individuals and families with incomes between 80 to 160 percent of the Area Median Income (AMI). The development will include a community room, fitness center, bike/ski repair, and a car charging station.
Rendering courtesy of Gorman & Company, LLC
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featured development: meadow vista apartments | |
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CHFA provided financing for Meadow Vista Apartments in Brush with a $580,000 Capital Magnet Fund (CMF) 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 Area Median Income (AMI).
Meadow Vista Apartments, developed by Northpointe Development II Corporation, includes 45 affordable apartments for individuals and families with incomes between 30 to 60 percent of the AMI. Meadow Vista is the first development that provides affordable rentals specific to these AMI levels in Morgan County. It is also the first tax credit development in Brush in nearly 30 years. The development features walking trails, an exercise loop, sports court, courtyard, playground, and community garden.
Pictured: Meadow Vista apartments grand opening celebration on October 3, 2024
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chfa awarded capital magnet funds to support affordable housing | |
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The U.S. Department of the Treasury recently awarded CHFA a $4.5 million Capital Magnet Fund (CMF) grant to support the preservation and construction of affordable multifamily rental housing in Colorado. CMF grants are competitively awarded to qualified nonprofit housing organizations and Community Development Finance Institutions (CDFIs) throughout the U.S. CHFA was one of 48 organizations to receive an award during the latest round. This is the sixth time that CHFA has been awarded a CMF grant since 2017.
To date, CHFA has deployed $38.1 million in prior Capital Magnet Fund awards to 46 developments throughout Colorado, supporting more than 3,000 affordable apartments. Approximately 60 percent of those units support households with incomes at or below 50 percent of the Area Median Income (AMI).
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Our solution-oriented team will help you find the right program to make your project a success. Connect with us today at 1.800.297.2342 or MF-Lending@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. | |
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