Below are some 2021 projects financed with SIMPLE:

Castle Creek Apartments, Aspen

Castle Creek Apartments provides families and individuals an affordable home in the highest-cost area of the state in dire need of workforce housing: in 2017, there was a shortage of more than 480 housing units for households at 60 percent AMI or below in the Aspen area.* The property offers 24 apartments to serve that demographic, and opened in January 2021.

CHFA was proud to support Castle Creek by providing $1,125,000 in permanent financing through SIMPLE. In addition, CHFA awarded federal 4 percent and state Housing Tax Credits in 2018 and issued $7.1 million in Private Activity Bonds.

* Economic and Planning Systems, Inc. study, 2019

Sage Corner, Lakewood

Sage Corner provides 43 additional units of affordable rental housing for individuals and families earning between $25,170 and $50,340 (30 to 60 percent AMI for a two-person household) in Lakewood. This project was realized through strong support from the developer, Metro West Housing Solutions, who is providing onsite resident services, including classes and children’s enrichment activities. Additional resident benefits include proximity to a middle school, recreation center, park with a lake, and walking path, as well as lower utility costs due to solar energy enhancements. 

CHFA was proud to support Sage Corner by providing $3 million in permanent financing through SIMPLE. The development was also awarded federal 9 percent Housing Tax Credits by CHFA in 2018.

River Bend Residences, Idaho Springs

River Bend Residences provides 47 units for families earning 30, 40, and 60 percent AMI, and is the first development financed by Housing Tax Credits in Idaho Springs. Residents will enjoy a robust community center, featuring a fitness room, lounge/game area, kitchenette, conference room, and a deck overlooking the adjacent Clear Creek. Outdoor amenities include a community garden and a covered picnic area. 

CHFA was proud to support River Bend Residence by providing $3 million in permanent financing through SIMPLE. The development was also awarded federal 9 percent Housing Tax Credits in 2018.

• To use Recycled Funds of approximately $3,000,000

• To fund an interest rate subsidy totaling $92,329