chfa monthly impact report
February Report: Data from January 1 to January 31, 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
378
Total homeowners served with loans
CHFA Loans Serve Millennials and Gen Z
The four most common household types served by CHFA loans in 2024 are illustrated below. Millennial adults with children made up the largest share at 17 percent of households served. Of those, 45 percent self-identified as Hispanic or Latino, and 60 percent self-identified as BIPOC (Black, Indigenous, Person of Color). More than 10 percent of CHFA home loans were made to households comprised of Generation Z adults, defined as those born between 1997 and 2012.
$140,816,170
First Mortgage Loans
$59,656
Down Payment
Assistance Grants
$5,882,509
Down Payment
Assistance Seconds
837
Homebuyer Education
Customers Served
Customers
$377,009
Median Loan Amount
698
Median Credit Score
$101,846
Median Income
130%
Median AMI
92%
First-time Homebuyers
rental housing
391
Units supported with loans, PAB, and/or Housing Tax Credits
New Affordable Housing Development Resources Published
In January, in partnership with the legal firm Baird Holm, CHFA released the Affordable Multifamily Accessibility Comparison Report. The report is a technical resource for Colorado multifamily affordable housing developers and provides an overview and comparison of housing accessibility standards required by federal and state law.
CHFA also worked with partner agencies to publish new resources to the Colorado Multifamily Affordable Housing Electrification Hub, including three new case studies and a new technical explainer providing an overview of green codes and certifications.
Finally, CHFA completed a comprehensive review and update of its Colorado Affordable Housing Developer’s Guide, adding new and up-to-date information about the affordable housing development process. Links to these resources are available in CHFA’s online Resource Library at chfainfo.com/resource-library.
3
Total Developments Supported
$62,859,545
Total Loan Production
$25,795,000
Multifamily Loan Commitments
Customers
299
Individual/Family Housing Units
0
Supportive Housing Units
92
Older Adult Units
0
Special Population Units
92
Preservation Units
0
Veteran Units
0
Rural Housing Units
business lending
42
Total businesses served
Loan Supports Single Family Construction in Erie
CHFA provided a $2 million dollar construction loan to support the forthcoming Cheesman Street Residences in Erie, Colorado. The loan is subordinate to a $9.3 million loan from Alpine Bank. Upon completion, Cheesman Street Residences will include 35 affordable for-sale residences built to net-zero-ready environmental standards. Each home will be subject to a 20-year deed restriction, and the income qualifications for the initial homebuyer will be restricted to those with incomes at or below 120 percent of Area Median Income (AMI). Deed restrictions will be managed by the Town of Erie, which is investing $2.8 million, including the donation of land and waiver of tap and permit fees.
457
Total Jobs Impacted
$4,160,105
Dollars Invested
Customers
29%
Women-owned
40%
Minority-owned
10%
Women- and
Minority-owned
$36,105
Median Loan Amount
community partnerships
42
Organizations supported
CHFA Sponsors CRC State of the Sector
CHFA was proud to sponsor and participate in the Ninth Annual State of the Sector hosted by Community Resource Center (CRC). The event celebrated work across Colorado’s nonprofit sector in 2024, highlighted challenges facing Colorado nonprofits, and featured panel discussions with industry leaders working to find effective solutions. Hybrid and in-person sessions were offered at locations across Colorado, and they were attended by CHFA’s Community Relationship Managers Chris Lopez and Margie Joy, Event and PR Coordinator Kristen Soroko, and Home Finance Senior Business Development Specialist, Pam Francil.
In addition to sponsoring the State of the Sector, CHFA is proud to support CRC’s Grantcorps program and its Rural Action Network. Grantcorps provides information, training, and technical support to nonprofits across Colorado and the Rural Action Network works to build nonprofit capacity, foster relationships, and regional collaboration which leads to increased grant dollars awarded to rural communities.
$266,012
Total Giving
$52,300
Corporate Giving
(direct and in-kind)
$185,600
Regional Community
Investment Grants
$28,112
Technical Assistance
45
Staff Community Involvement Leave and
Day of Service Hours
104
Technical Assistance Hours
0
Staff Donation Drives
and Giving and Match
spotlight
Financing Supports Hughes Station
CHFA provided a $20.5 million construction to permanent loan to support Hughes Station, a 120-unit development in Brighton. The loan will also include a $500,000 Capital Magnet Fund (CMF) loan and $250,000 CMF grant. Sponsored by Brighton Housing Authority, the project involves the acquisition and rehabilitation of an existing apartment building. CHFA also supported the development with an allocation of $1,185,643 in federal 4 percent Housing Tax Credits in 2024 alongside $16,340,000 in Private Activity Bonds.
CHFA Sponsors Saving Places Conference
CHFA was proud to sponsor and attend the Colorado Preservation, Inc.’s 2025 Saving Places Conference held January 29th-February 1st in Colorado Springs. Each year, the conference brings together individuals, organizations, communities, and projects from across the nation to talk about the latest in preservation, and this year featured more than 40 sessions as well as tours and networking opportunities. Four CHFAians attended this year’s conference.
HFA Institute Held in Washington, D.C.
The National Council of State Housing Agencies (NCSHA) hosted its annual HFA Institute from January 12th-January 17th in Washington, D.C. The conference offers education and insights from industry leaders in administering the Housing Credit, federal homeownership programs, Section 8, and the HOME Investment program and Housing Trust Fund. Twenty-one CHFAians attended, and CHFA Chief Operating Officer, Steve Johnson, and Kathryn Grosscup, Manager, Tax Credit participated in panel sessions.
Photos:
Hero: Nest56 at Denargo Market, Denver
Business Finance: Rendering, Cheesman Street Residences, courtesy of Vertikal
Community Partnerships: Manna Soups Kitchen, Durango
Spotlight, left: Color scheme elevation, Hughes Station, courtesy of Cuningham Architecture
Spotlight, center: CHFAians Terrance Grady and Caroline Trani at Colorado Preservation, Inc.’s 2025 Saving Places Conference
Spotlight, right: Kathryn Grosscup participates in a panel discussion at the 2025 NCSHA HFA Institute