CHFA was proud to provide permanent financing for Vance Street Flats in Arvada through a $3,400,000 loan made through the Small Multifamily Permanent Loan (SIMPLE) program alongside a $950,000 Capital Magnet Fund (CMF) loan. The SIMPLE program provides permanent financing for developments awarded federal 9 percent Housing Tax Credits, and eligible uses include new construction, acquisition, and substantial rehabilitation. 

Developed by Medici Development LLC, Vance Street Flats includes 50 affordable apartments serving individuals and families with incomes between 30 to 60 percent of the Area Median Income (AMI). The development is located in downtown Arvada near a bus stop and light rail station, and residents are provided RTD EcoPasses. Vance Street Flats also includes commercial space that serves as headquarters for the Arvada Veggie Van, which provides fresh food and nutrition services for residents and the community. 

Pictured: Vance Street Flats grand opening and ribbon cutting celebration on April 29, 2024

CHFA recently supported the Residences at Willow Park development in Aurora with $23,920,000 in financing through its Construction and Permanent Affordable Bond Loan (CAPABLE) program. CAPABLE combines construction and permanent financing to support developments awarded federal 4 percent Housing Tax Credits, and financing may be used to support new construction as well as acquisition and rehabilitation.

Developed by Aurora Housing Authority, Residences at Willow Park will include new construction as well as the rehabilitation of existing townhomes. The project will include the construction of a new resident community space and staff offices. Upon completion, Residences at Willow Park will offer 86 total affordable housing units serving families with incomes between 30 percent and 50 percent AMI.

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.