groundbreakings and grand openings around colorado (september-october 2022)

Congratulations to the following developments on their recently groundbreakings and grand openings. CHFA is proud to partner with these development teams.

Cadence, Fort Collins

Cadence celebrated its grand opening in Fort Collins on October 20th. Cadence serves adults age 55+ and people with disabilities by offering affordable rental housing and supportive services. CHFA supported the development by awarding federal Housing Tax Credits. CHFA Executive Director and CEO, Cris White, spoke at the event.

Calkins Commons, Cortez

On October 15th, a grand opening celebration was held for Calkins Commons in Cortez. Calkins Commons is a historical restoration and repurposing of the historic Calkins School, along with new construction to provide 42 affordable apartments. CHFA supported the development by awarding federal Housing Tax Credits. CHFA Housing Tax Credit Manager, Kathryn Grosscup, spoke at the event.

Grace Apartments, Denver

Grace Apartments offers 53 affordable apartments to individuals and families in east Denver. On September 21st, Grace Apartments celebrated its grand re-opening. The property was built in 1968 and the grand re-opening celebrates the completion of a substantial rehabilitation. Renovations included updated plumbing, ventilation, electrical, and conveyance systems, community spaces, and in-unit cabinetry and flooring.

CHFA was proud to support the preservation of Grace Apartments by awarding federal 4 percent Housing Tax Credits, issuing in Private Activity Bonds, and providing permanent financing. CHFA Housing Tax Credit Manager, Kathryn Grosscup, spoke at the event.

InterQuest Ridge, Colorado Springs

On October 11th, InterQuest Ridge hosted a groundbreaking ceremony. When complete, this development will offer 240 units of affordable rental housing to households with incomes at 60 percent of the Area Median Income or below. InterQuest Ridge will help address the lack of affordable housing options for workers in an area of northern Colorado Springs that has experienced increased commercial development in recent years.

CHFA was proud to support this development by awarded federal 4 percent Housing Tax Credits in 2021 and issuing Private Activity Bonds.

The Iron Horse, Alamosa

The Iron Horse celebrated its grand opening in Alamosa on October 26th. The Iron Horse offers 40 new affordable apartments serving individuals and families.

CHFA supported the development by awarding federal Housing Tax Credits. It is the first development supported with Housing Tax Credits to be built in the San Luis Valley in more than 20 years, serving a significant need for affordable housing in the region. CHFA’s South Central Colorado Community Relationship Manager, Jeff Owsley, spoke at the event on behalf of CHFA.

Northwest Apartments, Broomfield

On September 28th, a groundbreaking was held at the site of Northwest Apartments in Broomfield. This development will provide 50 new apartments, affordable to individuals and families whose incomes are between 30 and 60 percent of the Area Median Income. Northwest Apartments is part of a master-planned pedestrian friendly community that includes access to the Northwest Parkway Regional Trail.

CHFA was proud to support Northwest Apartments by awarding federal 9 percent Housing Tax Credits in 2021. CHFA Community Development Director, Steve Johnson, spoke at the event.

Reserves at Green Valley Ranch, Denver

On October 27th, a grand opening celebration was held at The Reserves at Green Valley Ranch. This development offers 144 units of affordable rental housing for individuals and families in east Denver near DIA. The Reserves at Green Valley Ranch serves a wide range of incomes in need of affordable housing, from 30 to 80 percent of the Area Median Income.

CHFA was proud to support the development by awarding federal Housing Tax Credits, issuing Private Activity Bonds, and providing financing. CHFA Community Development Director, Steve Johnson, spoke at the celebration.

Ridgway Space to Create, Ridgway

Ridgway Space to Create celebrated its grand opening on October 13th. This 30-unit development is in the downtown Ridgway creative district and is helping to address a significant rental housing scarcity in the region. In addition, the property includes 2,100 square feet of flexible community space.

CHFA was proud to support Ridgway Space to Create by awarding federal 9 percent Housing Tax Credits in 2020.

Trinidad Space to Create, Trinidad

A grand opening celebration was held on September 29th, for Trinidad Space to Create. This development offers 41 units of affordable rental housing to serve individuals and families and includes art gallery space for residents. The development is part of Space to Create, the nation’s first state-led initiative for affordable housing serving creative sector workers in rural areas.

CHFA was proud to support Trinidad Space to Create by awarding federal 9 percent Housing Tax Credits in 2017, a $715,000 Capital Magnet Fund (CMF) loan, and $35,000 CMF grant.

Pictured: The Iron Horse ribbon cutting