senior and family

Hatler May Village, Colorado Springs

purpose

New construction of 77 units for senior households  

who the project serves

Senior households aged 62 and older earning up to 60 percent Area Median Income 

community impact

The project was developed on a previously vacant site in north Colorado Springs. A community health center for older adults is located one block from the property. 

Comprehensive social services provide life-enhancing support and activities for all residents, and other services for those who are frail or at-risk. Project amenities include a large outdoor patio, raised planter boxes for resident gardens, fitness center, crafts room, social services office, a computer center, and a transportation van to take residents to and from appointments and shopping.   

project partners

Christian Church Homes

how we got the deal done

• $1,450,000 CHFA Sizeable Multifamily Affordable Risk Share Tool (SMART) loan with a 30-year term
  
• CHFA HOF loan that functioned as an interest rate subsidy with a 30-year term
  

pair with these CHFA programs

SMART can be paired with CHFA's Housing Opportunity Fund (CHFA HOF) and Capital Magnet Fund (CMF) as subordinate debt, so long as the debt coverage and other underwriting terms conform to CHFA Credit Policy.