CHFA was proud to support Overlook at Uplands, a new construction project in Westminster, with a construction-to-permanent loan of $67,173,000. The loan was provided through the CHFA Construction and Permanent Affordable Bond Loan (CAPABLE) program, and is the largest multifamily loan in CHFA’s history. CAPABLE offers a streamlined construction-to-perm financing structure for new construction and acquisition/rehab developments supported by federal 4 percent Housing Tax Credits.

Developed by St. Charles Town Company, Overlook at Uplands will include 247 units across seven buildings serving families with incomes between 40 percent and 70 percent of Area Median Income (AMI).

Terry Barnard shared, “CHFA is pleased to work with St. Charles Town Company and the other partners and funders on the development of these 247 units. The project will be one of the first to come out of the ground in the Uplands redevelopment, and aligns with CHFA’s mission to strengthen Colorado by investing in affordable housing and community development.”

Rendering courtesy of St. Charles Town Company 

In August, CHFA provided a $2 million loan through its Middle-income Access Program (MIAP) to support Midland Apartments in Buena Vista. The development will include 60 apartments with affordable rental rates to help address the housing crisis for the local workforce. MIAP is designed to help provide financing to developments that meet the needs of Colorado’s “missing middle” population, which is comprised of renters whose income is between 80 and 120 percent of the Area Median Income.

Rendering courtesy of EV Studios

The Proposition 123 Land Banking and Concessionary Debt – Multifamily Finance and LIHTC Predevelopment Finance programs will open on September 16th.

Proposition 123’s Land Banking program offers grants and loans to acquire and preserve land for affordable rental or for sale housing development. Letters of Intent (LOIs) will be accepted beginning September 16th and will be accepted until program funds are exhausted.

The Concessionary Debt program provides loans to support the creation and preservation of affordable rental housing serving low- and middle-income Coloradans. The application round will be held September 16 through October 15 and will include an opportunity to apply for funding under the Concessionary Debt Multifamily Finance and LIHTC Predevelopment programs. Application rounds for the Concessionary Debt - LIHTC Gap and Modular Finance programs will be announced late 2024/early 2025.

Updated program guidelines and additional details are available at coloradoaffordablehousingfinancingfund.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.