rental housing

Nest56 Celebrates Grand Opening in Denver

Nest56 at Denargo Market celebrated its grand opening in Denver on Friday, June 7th. Developed by Rivet Development and Pennrose LLC, Nest 56 includes 56 units for residents ages 18 to 24 who are transitioning from homelessness and/or the foster care system with incomes at 30 to 50 percent of the Area Median Income (AMI). Services are being provided by the nonprofit organization TGTHR to End Youth Homelessness (TGTHR), Mental Health Center of Denver, and other service agencies. The Colorado Division of Housing is providing 56 project-based vouchers as rental subsidy.

CHFA was proud to support Nest56 with an award of $781,055 in state Affordable Housing Tax Credits and $684,816 in federal 4 percent Housing Tax Credits in 2021. Additionally, CHFA supported the development with a $5.8M SMART loan alongside a $600,000 CMF loan and $150,000 CMF grant.

Customers

business lending

New Markets Tax Credits Support Center for the Healing Arts

In June, CHFA allocated $14 million in New Markets Tax Credits (NMTC) to support Cleo Parker Robinson Dance (CPRD) and the development of their forthcoming Center for the Healing Arts in Denver. Founded in 1970, CPRD is a performing arts nonprofit organization and home to the only African American-owned theater and event space in Denver.

The new facility will offer expanded youth programing, a behavioral health clinic operated by WellPower, and an office for Denver’s Support Team Assisted Response (STAR) program, an alternative response team for individuals experiencing mental health distress and substance use disorders. Upon completion, the Healing Arts Center will support the retention of 29 existing jobs, the creation of an estimated 20 new jobs, and will serve approximately 7,425 individuals every year.

Customers

community partnerships

Western Slope Rural Philanthropy Days Conference Held in Fruita

CHFA was proud to sponsor and attend the Western Slope Rural Philanthropy Days held June 5th to June 7th in Fruita. Hosted by Community Resource Center (CRC), the goal of Rural Philanthropy Days Conference is to bring increased access to resources to support sustainable rural nonprofits, increase the engagement of funders in rural communities, and encourage effective collaboration on a regional scale.

The conference included various speakers and panel discussions, opportunities for nonprofits to connect with funders, as well as tours of the local community. CHFA Community Relationship Manager Margie Joy helped lead a tour of housing in the community and discussed CHFA’s investment across the housing continuum. CHFA also had the opportunity to host roundtable discussions and office hours at the conference to meet and network with local nonprofit organizations.