CHFA is proud to announce the funds for the Capital Magnet Fund (CMF) program have been fully committed.

CMF provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Tax Credit projects located in eligible areas and serving households with incomes at or below 50 percent of Area Median Income (AMI).

CHFA provided approximately $33 million to 45 developments consisting of 3,191 total units. In total, funding was provided through 43 loans and 29 grants. Fifty-seven percent of the units serve Coloradans earning 50 percent AMI or less, and 21 percent of the units are located in rural areas. A wide range of residents are being served: 68 percent of units served families, 21 percent served seniors, and 11 percent served special needs populations.



CHFA will be applying to the U.S. Department of Treasury in a future funding round to seek additional CMF funds for future deployment. Please stay tuned for program updates.

CHFA is proud to announce the funds for the Colorado Affordable Housing Preservation Fund (CAHP) have been fully deployed.

As the state housing finance agency with a mission to finance affordable housing, CHFA created the CAHP Fund to help preserve affordable housing statewide. The program provides reliable acquisition financing to help developers move quickly to compete with market buyers. This second mortgage product provides a more flexible structure and pairs with first mortgages from CHFA or other lenders to leverage maximum funding opportunities.

The program’s impact includes:

• $5.2M in funds were deployed to preserve 243 units
• 6 projects and organizations were funded to allow ownership and permanent affordability
• 4 of the 6 projects were previously unrestricted with naturally occurring affordable rents.

Please stay tuned for program updates on future preservation fund availability.

On Tuesday, November 14th, CHFA attended a groundbreaking celebration for St. Stephen Senior Apartments, a development that will serve older adults aged 62 and above in Denver’s Central Park neighborhood. Developed by MGL Partners, St. Stephen Senior Apartments will feature a total of 50 units reserved for those earning between 30 and 60 percent AMI. Residents will benefit from transportation to amenities and activities and other resources provided by St. Stephen Missionary Baptist Church, the owner. 

CHFA was proud to support St. Stephen Apartments with a $2,336,000 SIMPLE loan and a $400,000 Housing Opportunity Fund loan. In addition, CHFA awarded the project $1,255,389 in federal 9 percent Housing Tax Credits in 2022. CHFA Housing Tax Credit Manager Kathryn Grosscup attended the groundbreaking and spoke on behalf of CHFA.

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.