chfa monthly impact report
February Report: Data from January 1 to February 28, 2025
CHFA strengthens Colorado by investing in affordable housing and community development. CHFA’s work supports communities and creates jobs. We are proud to invest in Colorado’s success.
This monthly report provides a year-to-date snapshot of CHFA’s investments to support affordable housing and community development throughout Colorado, along with related narratives and analyses.
Please click here for a printable PDF version of this month’s report.
CHFA
Homeownership
Rental Housing
Business Lending
Community Partnerships
homeownership
633
Total homeowners served with loans
CHFA Introduces Black Homeownership Series
CHFA recently announced a new homeownership series as part of its Own Your Tomorrow initiative to increase homeownership among Black and African Americans in Colorado. Building Legacy: A Black Homeownership Series will discuss overcoming systemic barriers, as well as the tools and financial resources available to support homeownership. Each in-person event will be held in Denver at CrossPurpose. Each will build upon the content of the previous, but participants may join the series at any point. The following topics will be covered:
• Part I – Understanding and Overcoming Systemic Barriers
• Part II – Path to Homeownership – The Basics
• Part III – Financing Your Home
• Part IV – Creating and Maintaining Wealth Through Homeownership
Additional information about Building Legacy: A Black Homeownership Series and CHFA’s Own Your Tomorrow initiative is available at chfainfo.com/tomorrow.
$233,003,525
First Mortgage Loans
$90,290
Down Payment
Assistance Grants
$9,783,477
Down Payment
Assistance Seconds
869
Homebuyer Education
Customers Served
Customers
$373,117
Median Loan Amount
700
Median Credit Score
$101,904
Median Income
129%
Median AMI
91%
First-time Homebuyers
rental housing
871
Units supported with loans, PAB, and/or Housing Tax Credits
Loan Supports Gateway Village Apartments
CHFA provided financing to support the preservation and renovation of 96 existing units and new construction of 24 additional units at Gateway Village Apartments in Fort Morgan. The $28,940,000 construction to permanent loan was provided through CHFA’s Construction and Permanent Affordable Bond Loan (CAPABLE) program. Sponsored by Rocky Mountain Communities, the development will provide 120 affordable apartments for individuals and families with incomes between 50 percent and 80 percent of the Area Median Income (AMI) across a mix of floor plans from one to four bedrooms.
CHFA was also proud to support Gateway Village with an award of $2,163,996 in federal 4 percent Housing Tax Credits and $949,176 in state Affordable Housing Tax Credits in 2023.
6
Total Developments Supported
$154,799,545
Total Loan Production
$33,332,515
Multifamily Loan Commitments
Customers
779
Individual/Family Housing Units
0
Supportive Housing Units
92
Older Adult Units
0
Special Population Units
92
Preservation Units
0
Veteran Units
120
Rural Housing Units
business lending
91
Total businesses served
Single Family Construction Loan Program Launched
In February, CHFA’s Business Finance Division was proud to introduce the Single Family Construction Loan Program, which provides construction or bridge acquisition financing to for-profit and nonprofit developers to support the development of affordable for-sale homes in Colorado.
Previously, CHFA piloted a single family construction loan offering which supported the creation or preservation of 157 units of for-sale housing in 2024. Earlier this year, CHFA provided a $2 million loan to Cheesman Street Residences in Erie to support the construction of 35 affordable for-sale, deed restricted homes across a mix of townhomes and detached properties. The success of the pilot program and the demonstrated demand for affordable for-sale units led to the launch of this new CHFA offering. More information about the Single Family Construction Loan Program is available on the CHFA website at chfainfo.com/sf-construction.
690
Total Jobs Impacted
$5,941,701
Dollars Invested
Customers
35%
Women-owned
46%
Minority-owned
18%
Women- and
Minority-owned
$32,098
Median Loan Amount
community partnerships
93
Organizations supported
Sponsorship Supports Public And Tribal Radio Services
A new sponsorship from CHFA will support KSUT Radio, a public radio station that broadcasts from Ignacio and serves the broader Four Corners region and Southwest Colorado. KSUT broadcasts across two signals, including Four Corners Public Radio as well as Southern Ute Tribal Radio, which offers Native American programming including Native music, news, cultural programming, and broadcasting special tribal meetings and other community events.
KSUT’s Southern Ute Tribal Radio is an affiliate of Native Voice One, a national Indigenous broadcasting service whose programming educates, advocates, and celebrates Indigenous life and values. CHFA’s sponsorship will support KSUT’s operational budget and news reporting and will help ensure that tribal communities and the broader region continue to have access to this important service.
$986,814
Total Giving
$257,000
Corporate Giving
(direct and in-kind)
$258,665
Regional Community
Investment Grants
$471,149
Technical Assistance
60
Staff Community Involvement Leave and
Day of Service Hours
192
Technical Assistance Hours
0
Staff Donation Drives
and Giving and Match
spotlight
Financing Supports Meadowood Cooperative
Financing provided by CHFA supported the resident cooperative purchase of the Meadowood Cooperative MHC (manufactured home community) in Littleton with a $1,184,545 Colorado ROC Acquisition Fund participation loan. The loan to ROC USA Capital allows Meadowood Cooperative MHC to become a Resident-owned Community (ROC), allowing residents to collectively set lot rents and share in decisions regarding repairs and enhancements to their community, resulting in the ongoing preservation of their homes.
King’s Crossing Village Breaks Ground
CHFA attended a groundbreaking celebration for King’s Crossing Village in Aurora. Developed by Community Development Partners, King’s Crossing Village will include 179 units of affordable housing for households with incomes between 30 percent and 80 percent of Area Median Income (AMI). CHFA supported the development with an award of $3,595,286 in federal 4 percent Housing Tax Credits and $1,100,000 in state Affordable Housing Tax Credits in 2023. Rose Outcalt, CHFA Tax Credit Officer, delivered remarks on CHFA’s behalf.
CHFAians Speak at Housing Summit
In February, Pam Francil, Senior Business Development Specialist, and Steve Boice, Manager, Business Finance, participated in panel discussions at the Home Builders Association of Western Colorado (HBA) Housing Summit in Grand Junction. The event convened experts to discuss housing issues, as well as strategies for addressing them. Panel topics included barriers to affordable and market rate housing development, and how local businesses can find housing opportunities for current and prospective employees.
Photos:
Hero: Colorado Changemaker, Amy Johnson, Kit Carson
Rental Housing: Gateway Village Apartments, Fort Morgan, courtesy of Rosemann and Associates
Spotlight, left: Meadowood Cooperative MHC, Courtesy of Thistle ROC
Spotlight, center: King's Crossing Village, courtesy of Shopworks Architecture
Spotlight, right: Home Builders Association of Western Colorado Housing Summit