|
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.
| |
featured developments: valor on the fax and robinson place | |
|
In late March, CHFA was proud to provide permanent loans to two new multifamily communities in Denver and Lakewood.
Valor on the Fax
Valor on the Fax is a 72-unit community in Denver developed by Brothers Redevelopment, Inc. The property serves individuals and families exiting homelessness, with supportive services provided by the Brain Injury Alliance of Colorado (BIAC). CHFA provided $8,020,000 in financing for the project between a Sizeable Multifamily Affordable Risk Share Tool (SMART) loan and Capital Magnet Fund (CMF) loan and grant. CHFA also awarded the development $1,299,870 in federal 9 percent Housing Tax Credits in 2020.
Robinson Place
Developed by Archway Communities, Robinson Place serves older adults aged 62 and above with incomes between 30 to 60 percent of AMI in Lakewood. CHFA provided a $6,230,000 SMART loan, a $600,000 CMF loan, and a $150,000 CMF grant alongside an award of $1,350,000 in federal 9 percent Housing Tax Credits in 2021. More information about how the development was supported through CHFA’s multifamily lending programs is available on the CHFA website.
CMF funds provided gap financing to both projects and have helped finance 44 other properties utilizing CHFA’s five CMF awards totaling $33.6 million. CHFA’s CMF program provides up to $750,000 of flexible financing for the preservation or construction of 4 percent or 9 percent Housing Tax Credit projects located in eligible areas and serving incomes at or below 50 percent of Area Median Income (AMI). CHFA has fully committed all of its CMF funding and has applied to the CDFI Fund to seek additional CMF funds for future deployment. Please stay tuned for program updates and visit the CHFA website for more information on CMF’s impact on affordable housing in Colorado.
| |
|
|
CHFA staff will be participating in the following industry events. Please reach out if you’d like to connect!
Housing Resources of Western Colorado’s Mobile Home Community Preservation Convening, April 26 (Grand Junction)
La Plata County Regional Housing Alliance 1st Annual Southwest Housing Summit, April 30 (Durango)
-
Chris Lopez, Community Relationship Manager, Southwest Colorado
National Housing & Rehabilitation Association (NH&RA) Spring Developers Forum, May 1-2 (Denver)
| |
| |
|
Sign Up for CHFA Multifamily Lending eNews
Sign up to hear first-hand about new programs, projects funded, partner features, training opportunities, and upcoming events.
| | |
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. | |
| | | |
