rental housing

gunnison development receives $1.25 million in chfa hof and cmf loans to support new apartment community

GardenWalk of Gunnison, a new 36-unit apartment community, closed on a $900,000 CHFA Housing Opportunity Fund (HOF) permanent loan and a $350,000 Capital Magnet Fund (CMF) loan from CHFA. The property will provide one- and two-bedroom units for households with incomes at 60 percent of the Area Median Income and below. GardenWalk was also supported with a federal 9 percent Housing Tax Credit award in 2018.

Developed by Belmont Development Company in partnership with the Gunnison Valley Regional Housing Authority, the property will consist of four residential buildings and one community building in a garden-style complex. Residents will enjoy a clubhouse with computer room, fitness center, and kitchen, as well outdoor bike racks and a community garden. Land was provided by Gunnison Valley Regional Housing Authority with additional support provided by the Colorado Division of Housing and the Grand Valley Foundation.

Customers

business lending

women's bean project expands with support from new markets tax credits

CHFA has funded $6.8 million in New Markets Tax Credit (NMTC) financing to support Women’s Bean Project, a nonprofit social enterprise that employs and provides self-sufficiency programs to support chronically unemployed women. Women’s Bean Project helps women by providing transitional jobs making products sold by the organization, as well as education on life skills and job readiness to prepare them to succeed following their completion of the program.

The NMTC awarded by CHFA will be used by Women’s Bean Project to support the purchase and renovation of a 20,000 square-foot building in Denver. This building will replace their current 10,000 square-foot Denver facility, providing increased space to allow for more production lines, expanded capacity, and enhanced programming. Women’s Bean Project expects to move to the new facility by mid-2022. The expansion will retain 14 full-time jobs and support three newly created full-time jobs. The expansion will also help Women’s Bean Project scale up its transitional job offerings to 90 annually by 2024.

Customers

community partnerships

2021 round two direct effect awards

CHFA is proud to announce its Round Two 2021 Direct Effect Award recipients. CHFA's Direct Effect Awards recognize Colorado nonprofit organizations whose missions align with CHFA's work to strengthen Colorado by investing in affordable housing and community development.

CHFA is donating $554,500 to 38 nonprofits through its Direct Effect program in round two, which received 87 applications seeking more than $2.5 million in combined funding.

The Round Two 2021 Direct Effect Award recipient list and descriptions about each organization and how Direct Effect will support their work by visiting this page on CHFA's website.

With these awards, CHFA's total Direct Effect contribution in 2021 exceeded $1.4 million, supporting 116 organizations statewide. Application deadlines for the 2022 Direct Effect Award rounds will be announced in January 2022. To learn more, please visit chfainfo.com/directeffect.