With over 45 years of experience, CHFA Multifamily Lending is your trusted partner. Together, we can build stronger communities by providing safe, secure, and

affordable homes for our fellow Coloradans.

project feature: ridgway space to create, ridgway

In April, CHFA provided a $1.4 million Small Multifamily Permanent Loan (SIMPLE) loan and a $500,000 Healthy Housing Fund (HHF) loan for the Ridgway Space to Create development. The loan funds are in addition to and leverage a federal 9 percent Housing Tax Credit award made in 2020. Developed by Artspace, Ridgway Space to Create will provide 30 units of housing affordable to families earning 30 to 80 percent of AMI. The property is located downtown in in Ridgway’s creative district, and a grand opening celebration will be held in June.

Ridgway Space to Create is the second in a series of real estate development projects for Space to Create Colorado, a state-led initiative to create affordable workforce housing and workspace in rural Colorado communities. It was the first to be selected in a competitive statewide process.

SIMPLE provides up to $3 million in uninsured permanent financing for 9 percent Housing Tax Credit projects.

Photo courtesy Artspace, Inc. and Brenda Metheny Photography.

grand opening: valor on the fax, denver

On May 17th, Valor on the Fax held their groundbreaking. The supportive housing development will provide housing affordable to homeless residents with brain injuries who are earing 30 percent of AMI. Developed by Brothers Redevelopment, Inc., the building will utilize trauma-informed design principles. Resident services and case management will be provided by Brain Injury Alliance of Colorado (BIAC). Residents will enjoy an outdoor open space, community laundry and kitchen areas, and a large indoor community area. Bus passes will also be provided to the residents.

CHFA was proud to support Valor on the Fax with a $7.3 million Sizeable Multifamily Affordable Risk Share Tool (SMART) loan, a $600,000 Capital Magnet Fund (CMF) loan, and a $120, 000 CMF grant. CHFA Commercial Loan Officer Joycelyn Gardner spoke at the event.

Learn about SMART

project feature: arvada house, arvada

In April, CHFA provided a $15.4 million Construction and Permanent Affordable Bond Loan (CAPABLE) loan and a $850,000 Housing Opportunity Fund (HOF) loan for the Arvada House development. The loan funds are in addition to and leverage a federal 4 percent Housing Tax Credit award made in 2023. Arvada House provides 88 units of housing affordable to seniors earning at or below 60 percent of AMI. Funds will be used for rehabilitation that focuses on energy efficiency upgrades, including heating and cooling systems and electrical panel upgrades, as well as resident safety upgrades. This funding will also support the addition of enhanced wellness services and programs, provided by Eaton Senior Communities.

CAPABLE combines construction and permanent financing to provide over $6 million for 4 percent Housing Tax Credit projects, using a streamlined process only available to housing finance agencies.

Learn more about CAPABLE

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With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority does not discriminate on the basis of race, color, religion, sex, age, national origin, disability, or any other protected classification under federal, state, or local law. Requests for reasonable accommodation, the provision of auxiliary aids, or any complaints alleging violation of this nondiscrimination policy should be directed to the Nondiscrimination Coordinator, 1.800.877.2432, TDD/TTY 800.659.2656, CHFA, 1981 Blake Street, Denver, Colorado 80202-1272, available weekdays 8:00am to 5:00pm.