In 2023, CHFA Multifamily Lending was honored to strengthen Colorado by providing safe and decent housing for our fellow Coloradans—and we couldn’t have done it without you. By year-end, we completed 21 commitments totaling $163 million, helping to finance the new construction or preservation of 1,777 affordable rental housing units.

We were also proud to fully commit the $25 million Middle-income Access Program (MIAP) funding pipeline authorized by the Colorado General Assembly to create innovative capital for middle-income rental housing.

Finally, we are progressing quickly on the first round of funding through the Affordable Housing Financing Fund’s Concessionary Debt program, with the selected applicants currently in the underwriting phase. This unprecedented Colorado state program will help even more Coloradans access quality affordable housing, and we are proud to be administering the program on behalf of OEDIT.

As we move into 2024, we are excited for new opportunities to partner with all of you to increase affordable housing across the state and provide quality housing for our fellow Coloradans.

To learn more about CHFA’s accomplishments over the last year, please read “2023 Accomplishments: Year in Review.” (PDF)

CHFA Commercial Loan Officer Lynn Archuleta was interviewed for the December 2023 issue of Tax Credit Advisor, for the article, “Nest, Not Nest Eggs: Inside the Workforce Housing Struggle in Colorado’s Mountain Towns.”

The article discussed how the increasing population in resort towns and communities across the country, mostly shifting from urban areas, has exacerbated the deficit of workforce housing availability. As a member of the multifamily lending team at CHFA, Lynn was interviewed for her insights into one of the innovative housing solutions targeting this demographic: CHFA’s Middle-income Access Program (MIAP), which she stated has put Colorado "on the forefront of working to meet the housing needs of the missing middle."

CHFA launched the MIAP program in 2018 to provide financing and feasibility for middle-income multifamily developments. It has already seen widespread use throughout the state. Lynn specifically noted the beneficial financing structure, highlighting the second deed of trust component—which allows CHFA to serve as a subordinate lender—operating as a junior lien along with others in the capital stack. This relationship means that CHFA can provide the developer more flexibility in its project without sacrificing funding security. This structure also allows CHFA to offer competitive interest rates.

Archuleta says, CHFA always endeavors to communicate early and often with senior lenders, "because we're all here for that common goal, to get more units on the ground." MIAP has been productive, and more deals are right around the corner. "We're definitely busy and seeing a lot more requests for MIAP, because of those gaps that we fill," said Lynn.

With respect to its programs, services, activities, and employment practices, Colorado Housing and Finance Authority prohibits unlawful discrimination against applicants or employees on the basis of age 40 years and over, race, sex, sexual orientation, gender identity, gender expression, color, religion, national origin, disability, military status, genetic information, marital status or any other status protected by applicable 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.