rental housing

West Holden Place Hosts Showcase Event in Denver

CHFA recently attended a showcase event for West Holden Place, a middle-income modular housing development in Denver’s Sun Valley neighborhood. Sponsored by Adam Berger Development LLC, West Holden Place is centrally located near public transportation lines, recreational facilities, and schools. The six-story, 77-unit development is comprised of modular segments assembled onsite and will offer a mix of one- and two-bedroom apartment homes serving individuals and families with incomes from 80 to 120 percent Area Median Income (AMI).

CHFA was proud to support the development with $3,000,000 in financing through its Middle-income Access Program (MIAP). MIAP provides financing for developments serving middle-income households, sometimes called the “missing middle,” whose incomes are too high to qualify for traditional programs such as developments supported by Housing Tax Credits, but who cannot afford market rate rent without becoming cost burdened.

Customers

business lending

Loan Provided to Support Construction of Single Family Homes 

In response to feedback received from communities, CHFA has begun to expand its business finance offerings to include select single family construction projects providing attainable for-sale housing to Coloradans. In July, CHFA provided a $3.4 million loan to support the construction of Hideaway Junction II, a 20-unit subdivision that will be comprised of detached single family homes for families in the rural resort community of Winter Park.

The borrower is a partnership between Winter Park Housing Authority and a subsidiary of Mountain Affordable Housing Development. The homes will be sold to qualified residents via a lottery. The residents must work in Grand County and not own any other residential real estate, providing an opportunity for local residents to live near the places they work. Each detached home will be two stories, featuring two- or three-bedrooms, a covered deck, and a front porch.

Customers

community partnerships

CHFA Donates More Than $1.3 Million to Colorado Nonprofits

CHFA announced its first round of Direct Effect Awards in July, recognizing Colorado nonprofit organizations whose missions align with CHFA’s work to strengthen Colorado by investing in affordable housing and community development.

Eligible Direct Effect Award recipients include nonprofit and not-for-profit organizations including public housing authorities, cities, counties, and local municipalities. In Round One of 2024, CHFA donated $1,362,000 to 104 nonprofits across Colorado. The average grant awarded in Round One was $13,096, and five nonprofits demonstrating exceptional alignment with CHFA’s mission received $50,000 awards in commemoration of CHFA’s 50th anniversary. Including this latest round of awards, CHFA has donated more than $6.1 million in Direct Effect Awards to more than 425 Colorado organizations since 2021.