chfa announces 2022 round one housing tax credit awards

(DENVER) – Colorado Housing and Finance Authority (CHFA) is pleased to announce 12 developments were awarded a reservation of federal 9 percent Housing Tax Credits to support the new construction of 592 affordable apartments. These developments will serve various housing needs in Colorado including supporting individuals and families who are transitioning out of homelessness, older adults, veterans, and households with low and moderate incomes.

CHFA received 26 applications for federal 9 percent Housing Tax Credits in its first allocation round of the year. Those applications awarded credit will support developments located in Brush, Commerce City, Colorado Springs, Cortez, Denver, Fruita, Lafayette, Longmont, Rocky Ford, Montrose, and Wheat Ridge. The total private sector equity investment estimated to be generated from the federal tax credits exceeds $128 million. In addition, the developments will be supported with a projected $33 million in gap financing provided by the Colorado Department of Local Affairs-Division of Housing.

The following is a list of the developments that have been awarded federal 9 percent Housing Tax Credits. Full descriptions may be viewed here, and the award report may be viewed here.

Bluebird Longmont, Longmont
Developer: Element Properties

Brush Village II, Brush
Developer: Northpointe Development II Corporation

Fruita Mews, Fruita
Developer: Indibuild LLC

The Ives, Wheat Ridge
Developer: Foothills Regional Housing

Launchpad Apartments, Colorado Springs
Developer: Cohen- Esrey Development Group

The Osborn, Rocky Ford
Developer: Total Concept

Puwagaan Kaan, Cortez
Developer: The Piñon Project and Blueline Development

Residences at Dry Cedar Creek, Montrose
Developer: RealAmerica Development LLC

Silver Key Senior Apartments, Colorado Springs
Developer: Silver Key Senior Services

SP Crossing, Commerce City
Developer: Nesbitt Development LLC and Brinshore Development

St. Stephen Apartments, Denver
Developer: MGL Partners

Willoughby Corner Phase IA Senior, Lafayette
Developer: Boulder County Housing Authority

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