On Thursday, October 27th, a grand opening celebration was held at The Reserves at Green Valley Ranch, located in east Denver near Denver International Airport. This mixed-income development offers 216 units, 144 of which are reserved for individuals and families earning between 30 to 80 percent of the Area Median Income.
Common amenities include a clubhouse enhanced by a community room, computer lab, exercise facility, and theater room. There will also be a community garden, recreation area, playground, and a basketball court.
CHFA was proud to support the development by awarding $16,584,908 in federal 4 percent Housing Tax Credits in 2019, issuing Private Activity Bonds, and providing a $28.5M CAPABLE loan (construction and permanent financing). CHFA Community Development Director, Steve Johnson, spoke at the celebration and several CHFA members attended.
CHFA valued the partnership with the developer, Overland Property Group. Terry Barnard, CHFA Community Development Lending Manager, said, “It was a delight to work with Overland on this project. They did a terrific job with the development, and it shows in the quality of construction and how well it blends into the neighborhood. More importantly, it provides affordability to the residents that call the project home.”
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