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

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

Alta Verde, Breckenridge

Alta Verde celebrated its groundbreaking on August 9th. This development will primarily serve individuals and families whose incomes range between 80 to 120 percent of the Area Median Income (AMI). The development will offer 172 total apartments, including 17 market-rate units. CHFA supported the development by providing a $5 million mezzanine loan from CHFA’s Middle Income Access Program.

Caesar Square, Wheat Ridge

A grand re-opening was held on Tuesday, August 30th, to celebrate Caesar Square Apartments, which offers 108 units of affordable rental housing to individuals and families with incomes between 30 to 80 percent of Area Median Income. The property was built in the early 1970s and the grand re-opening celebrates the completion of a substantial rehabilitation.

CHFA was proud to support Caesar Square by awarding federal 4 percent Housing Tax Credits in 2019. CHFA Community Development Director, Steve Johnson, spoke at the event.

Capitol Square Apartments, Denver

On September 14th, Capitol Square Apartments celebrated its grand opening. Capitol Square provides 103 new affordable apartments for families and individuals in Denver’s Capitol Hill neighborhood. The development offers long-term affordability for at least the next 60 years in Denver, where almost half of all renters are housing cost-burdened, paying 30 percent or more of their income on housing costs. CHFA was proud to support Capitol Square Apartments by awarding federal 4 percent and state Housing Tax Credits and issuing Private Activity Bonds. CHFA Executive Director and CEO, Cris White, spoke at the event.

Greyhound Park Empowerment Apartments, Commerce City

On August 11th, Greyhound Park Empowerment Apartments broke ground. This development will serve formerly homeless individuals and families as well as individuals exiting the criminal justice system. It will offer 50 affordable apartments for households with incomes at 30 percent AMI. The nonprofit Empowerment Program will provide services to residents. CHFA supported this development by awarding federal 9 percent Housing Tax Credits in 2021.

Immaculata Plaza Apartments, Greeley

A groundbreaking ceremony was held on August 11th at the site of Immaculata Plaza Apartments. This development involves the preservation of a 25-unit property and new construction of 30 affordable apartments. All units will serve older adults with incomes at 30 percent AMI. It is across the street from the Greeley Active Adult Center and Union Colony Civic Center. CHFA supported the development with federal 4 percent Housing Tax Credits in 2021.

Lyons Valley Townhomes, Lyons

On August 5th, a groundbreaking ceremony was held at Lyons Valley Townhomes (pictured). This development will provide 40 new affordable housing units, comprised of triplex, fourplex, and single family homes for rent. CHFA supported this project with federal Housing Tax Credits, Private Activity Bonds, and a CAPABLE loan. Lyons Valley Townhomes is the first development supported with Housing Tax Credits to be built in Lyons. CHFA Community Development Director, Steve Johnson, spoke at the event.

Overlook at Powers Park, Littleton

On August 2nd, Overlook at Powers Park celebrated its groundbreaking. This development will offer 51 new apartments affordable to adults aged 62 and older. It will be located adjacent to Powers Park, within one to three blocks of several bus stops, and within walking distance to grocery and other amenities.

CHFA was proud to support this development by awarding federal 9 percent Housing Tax Credits in 2021.

Trails at Lehow, Englewood

On Thursday, August 25th, Trails at Lehow broke ground in Englewood. This affordable rental housing development will provide 82 affordable apartments for individuals and families. It will serve an area of Englewood where the only other comparable housing options have very low vacancy or wait lists. In addition, the development will offer many supportive services, including programs on financial literacy, job preparation, income support, youth mentoring, and health services.

CHFA was proud to support Trails at Lehow by awarding federal 4 percent Housing Credits and issuing $13.4 million in Private Activity Bonds. CHFA Tax Credit Officer, Meghen Brown, spoke at the groundbreaking on CHFA’s behalf.

Walden35, Aurora

On Wednesday, August 17th, a groundbreaking ceremony was held at Walden35 (formerly known as Gateway Apartments). Once complete, this development will provide 100 units of affordable rental housing serving individuals and families in northeast Aurora. Walden35 is being developed by the Aurora Housing Authority and will help support the City of Aurora’s priority to balance job growth and corresponding housing needs. The development will serve households with low to middle income, at 50 to 70 percent of the Area Median Income or below. It will also offer two- and three-bedroom apartments, which are particularly in demand in the area.

CHFA supported Walden35 by awarding federal 4 percent Housing Tax Credits in 2021. Community Development Director, Steve Johnson, spoke at the event on CHFA’s behalf.

Pictured: Lyons Valley Townhomes groundbreaking