CHFA recently provided financing to support the preservation and renovation of 96 existing units and new construction of 24 additional units at Gateway Village Apartments in Fort Morgan. The $28,940,000 construction to permanent loan was provided through CHFA’s Construction and Permanent Affordable Bond Loan (CAPABLE) program. The CAPABLE program combines construction and permanent financing to provide loans of $6 million or more for 4 percent Housing Tax Credit projects, using a streamlined FHA process only available to housing finance agencies.

Sponsored by Rocky Mountain Communities, Gateway Village will provide 120 affordable one-to-four-bedroom apartments for individuals and families with incomes between 50 percent and 80 percent of the Area Median Income (AMI). CHFA was also proud to support the development with an award of $2,163,996 in federal 4 percent Housing Tax Credits and $949,176 in state Affordable Housing Tax Credits in 2023.

Rendering courtesy of Rosemann and Associates

The Capital Magnet Fund (CMF) program supports the preservation and construction of affordable multifamily rental housing in Colorado. It provides up to $750,000 of flexible gap financing for the preservation or construction of 4 percent or 9 percent Housing Tax Credit developments located in eligible areas and with a preference for serving incomes at or below 60 percent of Area Median Income (AMI).

Funding is available now through a $4.5 million CMF grant The U.S. Department of the Treasury awarded CHFA in 2024. CMF grants are competitively awarded to qualified nonprofit housing organizations and Community Development Financial Institutions (CDFIs).

Recently funded projects with CMF include Crisman II, Nest 56 at Denargo Market, Sagebrush Apartments, Vance Street Flats, and Residences at Delta. 

CHFA staff will be participating in the Colorado Real Estate Journal 2025 Affordable Housing Summit & Expo on April 9th. Please reach out if you’d like to connect!

• What’s New – Thomas Bryan, CHFA Executive Director and CEO
• Meeting the Need – Kristi Budish, CHFA Director, Community Development
• Fireside Chat with Cris White – Cris White, Former CHFA Executive Director and CEO
• Challenge of Keeping Up with Rising Construction Costs, Interest Rates, and Operating Expenses – Brian Miller, CHFA Director, Asset Management

You can learn about CHFA’s investments and the communities they impacted in CHFA’s 2024 Community Report released in March. Last year CHFA invested $2.6 billion to support affordable housing and community development across Colorado.



Through these investments, CHFA was proud to assist Coloradans by:

• Serving 5,291 customers through CHFA’s home mortgage loan programs
• Helping developers create or preserve 5,502 affordable rental housing units with multifamily loans and/or Housing Tax Credits
• Supporting 3,955 jobs by serving 582 businesses with business lending programs
• Investing in 560 organizations statewide with donations, grants, and volunteerism

The report also provides a recap of CHFA’s 50th anniversary, including the various initiatives, events, and outreach celebrating CHFA’s historical impact as well as the partners who have made CHFA’s work and success possible. You can read the full report on CHFA’s website.

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.