An example of a CHFA Multifamily Lending Senior and Family project.
Robinson Place
Lakewood, Colorado
Pictured: Robinson Place, courtesy of Brooke McKelvey of Archway Communities
Robinson Place, Lakewood
Purpose
New construction of 67 units for senior households
Who the Project Serves
Seniors aged 62 and older earning between 30 percent and 60 percent of Area Median Income
Community Impact
The project was developed on a previously vacant site at 2275 Wadsworth in Lakewood. Onsite services programming includes a minimum of 30 hours of direct services each week to the residents, 15 hours of which are facilitated by a full-time Resident Care Coordinator and focused on social interactions and mental and physical health. Programs will include low-intensity fitness classes, arts and crafts, and games. The VA will provide in-kind, onsite case management to directly support the residents of the project-based VASH units. Archway also intends to host a weekly food bank in partnership with Food Bank of the Rockies.
Project amenities include a large community room with an entertainment kitchen and pantry, a lounge area, a library, laundry rooms on each floor, an outdoor community patio, a “great lawn,” small outdoor gathering spaces, a raised bed garden with storage, and a dog park. The project will also have a dedicated van for resident transportation.
Project Partners
Archway Communities
How We Got the Deal Done
- $6,230,000 CHFA Sizeable Multifamily Affordable Risk Share Tool (SMART) loan with a 40-year term
- $600,000 CHFA Capital Magnet Fund (CMF) loan
- $150,000 CMF grant
Pair with These CHFA Programs
SMART can be paired with CHFA's Housing Opportunity Fund (CHFA HOF) and CMF as subordinate debt if the debt coverage and other underwriting terms conform to CHFA Credit Policy.