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With over 50 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.
| | chfa-supported developments celebrate grand openings | |
The Edge III Grand Opening
Congratulations to The Edge III in Loveland which celebrated its grand opening this month. Developed by Loveland Housing Authority, Edge III is the final phase of The Edge affordable housing development, offering 66 affordable apartments serving residents with incomes from 30 percent to 60 percent of the Area Median Income (AMI), complementing the existing 139 units constructed in the prior two phases.
CHFA invested in The Edge III with $2.5M in permanent 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. CHFA also supported the development with $999,389 in state Affordable Housing Tax Credits and $933,636 in federal 4 percent Housing Tax Credits in 2023.
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Rifle Apartments Grand Opening
Rifle Apartments also celebrated its grand opening this month. Developed by Evergreen Real Estate Group, Rifle Apartments is a newly constructed development in downtown Rifle, and it includes 60 apartments for individuals and families with incomes between 30 percent and 80 percent of Area Median Income (AMI).
CHFA supported Rifle Apartments with $3M in permanent financing through the Sizeable Multifamily Affordable Risk Share Tool (SMART) program. SMART provides up to $6 million in permanent insured financing to projects with up to 40-year terms. The development also received $1.4M in federal 9 percent Housing Tax Credits in 2023. Congratulations to Evergreen Real Estate Group and everyone involved in making this development possible.
| | chfa staff participate in colorado real estate journal 2026 affordable housing summit & expo | | |
We appreciated the opportunity to connect at the Colorado Real Estate Journal 2026 Affordable Housing Summit & Expo this month. The event brought together those in affordable housing to talk about market conditions, challenges, and solutions. Thomas Bryan, CHFA Executive Director and CEO, Steve Johnson, CHFA Chief Operating Officer, and Lynn Archuleta, CHFA Commercial Loan Officer III were panelists at the event, sharing insights on topics including what’s new in affordable housing, the financing market, and middle income housing.
| | meet the multifamily lending team: melissa castillo | | |
This month, we’d like to introduce you to CHFA Multifamily Lending team member Melissa Castillo. One benefit of working with the team is their extensive expertise and technical knowledge. In her role as a Commercial Loan Officer II, Melissa underwrites CHFA multifamily loans, presents project loans for approval, and coordinates and assists during the loan commitment and closing process.
“I am passionate about the work I do because affordable housing is such a critical foundation for stability, security, health, and opportunity. Each project is a representation of the lives it touches as we are creating a real and meaningful change for those who need it most,” said Melissa. “The work I do isn't solely about the numbers or buildings, it drives impact and I am proud to play a small part in assisting people achieve their dream of having a safe space to call their own.”
| | Our solution-oriented team will help you find the right program to make your project a success. Connect with us today at 800.877.2432 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, creed, religion, national origin, ancestry, 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. | | | | | |
