2017 CHFA LIHTC Round Two Awards

CHFA has awarded the following developments federal 9 percent Low Income Housing Tax Credits (LIHTC) in 2017’s final allocation round. 

Aria Apartments Phase II, Denver
Developer: Perry Rose LLC

Aria Apartments Phase II will be the second affordable rental housing development serving families as part of the master redevelopment of the former Marycrest Convent Campus at 52nd Avenue and Federal Boulevard. The master development includes market-rate single-family housing, commercial, retail and a one-acre farm in addition to the two affordable rental housing developments. The developer has implemented a "Cultivate Health Initiative" in partnership with a number of organizations, which provides an expansive array of services and opportunities for the residents to achieve healthy living.

65 Units: 53 One-Bedroom; 12 Two-Bedroom
4 @ 30% AMI; 26 @ 40% AMI; 11 @ 50% AMI; 24 @ 60% AMI
9% Credit Awarded: $1,214,217


Cornell Senior Apartments, Aurora
Developer: Community Housing Development Association

Cornell Senior will serve seniors ages 62 and older. Ten of the units will be set aside for people with special needs, and case management and support services will be provided.  The development will be located across the street from the Regatta Plaza redevelopment which will include a new King Soopers, retail, offices, and residential units. 

50 Units: 35 One-Bedroom; 15 Two-Bedroom
5 @ 30% AMI; 11 @ 40%; 19 @ 50% AMI; 15 @ 60% AMI
9% Credit Awarded: $992,180


Crossing Pointe, Thornton
Developer: Adams County Housing Authority

Crossing Pointe will serve seniors ages 62 and older and will be part of the Thornton Crossroads commuter rail station area master plan. Sixteen of the units will have Section 8 project-based vouchers. All residents will have access to senior services. The development will be within walking distance of the new commuter rail station and will be next to Grandview Ponds Open Space. 

64 units: 50 One-Bedroom; 14 Two-Bedroom
7 @ 30% AMI; 9 @ 40% AMI; 33 @ 50% AMI; 15 @ 60% AMI
9% Credit Awarded: $1,250,000


Freedom Springs, Colorado Springs
Developer: Vecino Group

Freedom Springs will be a permanent supportive housing project serving homeless or those who are at risk of becoming homeless with a special preference for veterans. All of the units will be subsidized with a Section 8 project-based voucher.  On-site services will be provided by Volunteers of America.

50 Units: 6 Studio; 38 One-Bedroom; 6 Two-Bedroom
50 @ 30% AMI
9% Awarded: $1,046,580


Highlands 2, Grand Junction
Developer: Grand Junction Housing Authority

This project will be the second phase of a two-phase project serving seniors ages 62 and older. The project will feature outdoor gathering spaces and walking trails, and is located across the street from the St. Mary's Hospital campus.

72 Units: 60 One-Bedroom; 12 Two-Bedroom;
16 @ 30% AMI; 16 @ 40% AMI; 20 @ 50% AMI; 20 @ 60% AMI
9% Credit Awarded: $1,250,000


Lumien Apartments II, Durango
Developer: Solvera Advisors

This family development includes nine permanent supportive housing units that will have Section 8 project-based vouchers. Services will be provided for the households of these nine units by Axis Mental Health Systems and Housing Solutions for the Southwest. The developer is partnering with La Plata Homes Fund, a local nonprofit, on the development.

36 Units: 21 One-Bedroom; 15 Two-Bedroom
4 @ 30% AMI; 13 @ 50% AMI; 19 At 60% AMI
9% Credit Awarded: $951,361


Providence at the Heights, Aurora
Developer: BlueLine Development and Second Chance Center

Providence at the Heights will be the first permanent supportive housing project in Aurora. The project will be 100 percent subsidized with Section 8 project-based vouchers. The development will provide on-site services as well as indoor and outdoor community amenities.

50 Units:  39 One-Bedroom; 10 Two-Bedroom
49 @ 30% AMI; One @ Market Rate
9% Credit Awarded:  $1,185,541


Trinidad Artspace Lofts, Trinidad
Developer: Artspace Projects

This project is located in the center of Trinidad and will serve families as well as local artists. Twenty of the units will be located at two historic buildings which will feature working and gallery space for residents.

41 Units: 14 Studio; 15 One-Bedroom; 12 Two-Bedroom
8 @ 40% AMI; 18 @ 50% AMI; 15 @ 60% AMI
9% Credit Awarded: $1,147,895


Valley Sun Village, Cortez
Developer: Treadstone Companies

Valley Sun is an existing Section 8 project serving seniors that was originally constructed in 1982. The rehabilitation will include: upgrades to health and safety features, energy efficiency improvements, exterior upgrades to lighting and driveways, roof and siding replacements, and complete updates to the units.

50 Units: 50 One-Bedroom
10 @ 40% AMI; 20 @ 50% AMI; 20 @ 60% AMI
9% Credit Awarded: $535,000

Walnut Street Lofts, Denver
Developer: Medici Development LLC

This development will be an affordable option for renters in the rapidly developing River North (RINO) district in northeast Denver. The development is adjacent to the 38th and Blake commuter rail station and will be one block from the new World Trade Center site, which is scheduled to be completed in 2019. 

65 Units: 30 One-Bedroom; 31 Two-Bedroom; 4 Three Bedroom
7 @ 30% AMI; 25 @ 50% AMI; 33 @ 60% AMI
9% Credit Awarded: $1,198,115

Wintergreen Apartments, Keystone
Developer: Gorman and Company

Wintergreen Apartments will offer affordable rental housing for workers in Summit County who are currently living in overcrowded or distant housing. The development will be a part of a master development which will provide 156 units of workforce housing in addition to these 40 LIHTC units.

40 Units: 30 One-Bedroom; 8 Two-Bedroom; 2 Three-Bedroom
2 @ 30% AMI; 18 @ 50% AMI; 20 @ 60% AMI
9% Credit Awarded: $831,000

Woodgate Trails, Montrose
Developer:  Four Corners Development

Woodgate Trails will serve seniors over the age of 55 at a location that is on a major bus route, and close to shopping and a newly opened community center. The development will have a part-time activities/service coordinator who will work with local service providers to help promote an active and healthy lifestyle for residents.

50 Units: 38 One-Bedroom; 12 Two-bedroom
5 @ 30% AMI; 9 @ 40% AMI; 23 @ 50% AMI; 13 @ 60% AMI
9% Credit Awarded: $1,217,072


For more information about the LIHTC program, please contact Tasha Weaver, Tax Credit Allocation Manager at 303.297.7429 or tweaver@chfainfo.com.