chfa monthly impact report
December Report: Data from January 1 to November 30, 2024
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
4,847
Total homeowners served with loans
CHFA Launches On-demand Video Library for Lenders
CHFA’s Home Finance Division serves as a resource for participating lenders by offering frequent training webinars and eNewsletter updates, as well as technical assistance as needed. In an effort to address frequently asked questions while accommodating lenders’ busy schedules, CHFA developed an on-demand library of short-form videos.
The video library, which is now available on CHFA’s website:
• allows lenders to find answers to frequently asked questions in a concise format;
• promotes engagement and sharing of information through multimedia resources;
• enhances CHFA staff’s customer service; and
• decreases the number of questions submitted through email and phone by an estimated 30 percent.
The on-demand videos may be accessed at chfainfo.com/lender-on-demand-training.
$1,769,295,820
First Mortgage Loans
$669,860
Down Payment
Assistance Grants
$69,107,441
Down Payment
Assistance Seconds
6,674
Homebuyer Education
Customers Served
Customers
$367,920
Median Loan Amount
694
Median Credit Score
$100,492
Median Income
129%
Median AMI
92%
First-time Homebuyers
rental housing
4,771
Units supported with loans, PAB, and/or Housing Tax Credits
Round Two Housing Tax Credit Awards
CHFA is pleased to announce 10 developments will be awarded a reservation of federal and state Housing Tax Credits to support the new construction or preservation of 1,169 affordable rental units.
The following developments are receiving federal 4 percent and state Housing Tax Credit award reservations from CHFA.
• 4340 South Monaco, Denver, Developer: Shea Properties
• Compass Pointe, Pueblo, Developer: Kittle Property Group
• Creekside Flats, Denver, Developer: Archway Investment Corporation
• Glenwood Gardens, Glenwood Springs, Developer: Cohen-Esry Development Group
• Grove in Bloom, Fort Collins, Developer: Pedcor Investments, LLC
• Jet Wing Flats, Colorado Springs, Developer: Commonwealth Development
• Corporation and Solid Rock Community Development Corporation
• Maiker Uplands, Westminster, Developer: Maiker Housing Partners
• Stables, Aurora, Developer: Grovewood Community Development, Inc.
• Summit at Granby Apartments, Granby, Developer: Summit Housing Group, Inc.
• Tiara Apartments, Aurora, Developer: KCG Development, LLC
Rendering: Creekside Flats, Courtesy Archway Investment Corporation and Shopworks Architecture
52
Total Developments Supported
$400,769,253
Total Loan Production
$245,386,091
Multifamily Loan Commitments
Customers
3,752
Individual/Family Housing Units
318
Supportive Housing Units
644
Older Adult Units
28
Special Population Units
611
Preservation Units
15
Veteran Units
719
Rural Housing Units
business lending
551
Total businesses served
Loan Supports Affordable Homeownership in Roaring Fork Valley
CHFA provided Habitat for Humanity Roaring Fork Valley a loan that will support the purchase of the L3 Apartment Complex in Glenwood Springs. The community will be converted into affordable, for-sale condominiums for homebuyers with incomes between 80 percent and 150 percent of Area Median Income (AMI). In total, the development will include 88 condominium homes, helping to address the shortage of affordable for-sale options in the region. Habitat for Humanity will oversee the deed restrictions on the properties to ensure long-term affordability, and upon conversion all units will be offered first to tenants who are currently renting them and who meet the income requirements.
3,531
Total Jobs Impacted
$145,777,866
Dollars Invested
Customers
36%
Women-owned
45%
Minority-owned
17%
Women- and
Minority-owned
$35,000
Median Loan Amount
community partnerships
415
Organizations supported
Like it Forward Fundraising Campaign Benefits We Don’t Waste
Like It Forward is CHFA’s annual social media campaign to benefit Colorado nonprofits whose work aligns with CHFA’s mission to invest in affordable housing and community development. This year’s campaign benefits We Don’t Waste, a Denver-based nonprofit organization working to increase food access and protect the planet by rescuing and repurposing food, while educating and advocating to increase food security and decrease food waste.
From November 25th through December 13th CHFA shared #LikeItForeward24 posts on its Facebook, Instagram, Twitter, and LinkedIn accounts featuring information about We Don’t Waste. For each like and share the posts received, CHFA will donate $5 to the nonprofit.
$5,754,752
Total Giving
$2,383,074
Corporate Giving
(direct and in-kind)
$1,968,095
Regional Community
Investment Grants
$1,402,233
Technical Assistance
969
Staff Community Involvement Leave
and Day of Service Hours
1,702
Technical Assistance Hours
$1,350
Staff Donation Drives
and Giving and Match
spotlight
Homeownership Outreach Continues
CHFA Business Development Specialist Greg Brown served on the housing panel at the Rocky Mountain NAACP State Conference Convention on November 2nd. He discussed CHFA’s FirstGeneration program and how prospective Black and African American homebuyers can gain access to assistance with buying homes using CHFA. CHFA also hosted a homebuyer education event on November 23rd in Denver, the fourth in a series of engagement events held in partnership with the nonprofit CrossPurpose.
Impact Investors Honored
In November, CHFA Executive Director and CEO Cris White and CHFA Board Member Santhosh Ramdoss (President, CEO, and Chief Investment Officer at Gary Community Ventures) were selected as 2024 Who’s Who in Impact Investing awardees. The honor from the Denver Business Journal and Impact Finance Center recognizes individuals creating a positive, lasting impact. Cris and Santhosh were recognized in the 2024 Who’s Who in Impact Investing publication and at a celebration event in Denver.
CHFA Attends CDFA Conference
CHFA was proud to be a sponsor of this year’s Council of Development Finance Agencies (CDFA) National Development Finance Summit in Baltimore. The summit brought together leaders and experts from the development finance industry, and CHFA Chief Operating Officer Steve Johnson spoke at the summit. Other CHFAians in attendance included Manager of Business Finance Steve Boice and Commercial Loan Officers Justin Vause, Peter Martinez, and Terrance Grady.
Photos:
Hero: Calkins Commons Grand Opening, Cortez
Rental Housing: Creekside Flats, Courtesy Archway Investment Corporation and Shopworks Architecture
Spotlight, left: Own Your Tomorrow event at CrossPurpose, Denver
Spotlight, right: CDFA summit, Baltimore