rental housing

Rowhomes at Greyhound Park

CHFA provided Delwest Ventures a $3.3 million Middle Income Access Program (MIAP) loan to support Rowhomes at Greyhound Park, a new 68-unit development located in Commerce City. The apartments will serve individuals and families earning between 80% and 120% of Area Median Income (AMI). This is the seventh loan supported by CHFA’s MIAP innovation, which originally launched in 2017 and is funded by CHFA’s Housing Opportunity Fund (HOF).

Rowhomes at Greyhound Park is within the Mile High Greyhound Park redevelopment site, which is comprised of approximately 68 acres. The site served as the former home of the greyhound racing track and was purchased by the Commerce City Urban Renewal Authority in 2011. In addition to the Rowhomes, a 30-unit 9% LIHTC-supported project and a 223-unit 4% LIHTC project will be featured at this location.

Customers

business lending

Bad Alibi Distillery

Bad Alibi Distillery, LLC is a new craft distillery located in Craig. The business was founded in 2021 by Wade Gerber, a local entrepreneur with a vision to help himself and others transitioning from their current employment in the coal and power industry. When launched, Bad Alibi will sell ultra-premium craft spirits including whiskey, gin, and vodka. The business will be marketed in alignment with the Western Colorado culture and stories from the old west. CHFA provided a Cash Collateral Support deposit to Yampa Valley Bank to assist them in financing Bad Alibi’s
equipment purchase.

The Cash Collateral Support program helps small and medium sized borrowers access capital that would otherwise be unavailable due to collateral shortfalls by providing cash deposits that act as collateral on the borrower’s behalf. CHFA serves as the program administrator for the Colorado Office of Economic Development and International Trade (OEDIT). Since 2012, Cash Collateral Support has supported 407 businesses in obtaining access to capital. Combined, businesses-served impacted 8,954 jobs across the state.

Customers

community partnerships

TA Program Helps Sponsors Engage Community

In January and February, CHFA’s Small Scale Affordable Housing Technical Assistance (TA) program hosted a series of community engagement sessions for project sponsors to solicit community and beneficiary input.

On February 24, representatives from CHFA staff and TA consultants, the Reinen Team, joined with community leaders from the Town of Grand Lake at the local Housing Fair. Project sponsors used the forum to share conceptual drawings and vision for a 22-unit housing project in the region.

In addition, the Reinen Team joined together with CHFA NueroInclusive TA consultant, Desiree Kameka Galloway, to host two family-community engagement sessions for those seeking to learn and provide feedback to project sponsors working advance nueroinclusive housing at Tall Tales Ranch in Lone Tree and near Castle Rock in collaboration with Skycliff Center.

CHFA is currently engaging with six new project sponsors to invite them into the TA program during Round One in 2023.