Bentley Commons hosted a groundbreaking celebration on January 30th, and Terry Barnard, CHFA’s Community Development Lending Manager, took part in the event. CHFA supported the 192-unit development with an allocation of $1,000,000 in state Affordable Housing Tax Credits and $2,735,647 in federal 4 percent Housing Tax Credits in 2022. CHFA also provided a $35.4 million CAPABLE loan, of which $12.7 million will convert to a permanent loan, as well as a $600,000 Capital Magnet Fund (CMF) loan, and a $245,000 CMF grant.

This project was a truly collaborative effort, made possible by a partnership between CHFA, Rocky Mountain Community Land Trust, Greccio Housing, and Partners in Housing. At the groundbreaking, many members of community attended, including the mayor, showing their support for the increased affordable options to meet the housing need in the city and surrounding area. 

Terry Barnard shared, “It was exciting to see the community support for Bentley Commons and the tremendous turnout from the mayor, local officials, staff of the development agencies, and others. It warms your heart when you see the project in action, and I am excited to see the project as it develops and the residents it will serve. This project will help fill a great need for affordable units in southeast Colorado Springs and we are grateful to serve as the construction-to-permanent lender for the project, in addition to providing Capital Magnet Funds as a secondary source.” 

CHFA is celebrating 50 years of strengthening Colorado by investing in affordable housing and community development.

Since 1974, CHFA has invested $35.3 billion* into the state of Colorado and has had the privilege to collaborate with valuable partners, innovators, and changemakers to build stronger communities through investments to support homeownership, business growth, affordable rental housing development, and mission-aligned nonprofits.

To celebrate this work and tell CHFA’s story, we’ve launched a microsite at chfainfo.com/50. Explore the site to view a virtual timeline, customer and partner features, and more. Content will be added throughout the year, offering fresh opportunities to learn more about our work and celebrate our customers and partners.

*as of 12.31.2023

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.