The following affordable housing developments were awarded federal and state tax credits by CHFA.
30Pearl Apartments, BoulderDeveloper: Boulder Housing Partners (BHP)
30Pearl will include 120 new affordable apartments in the Boulder Junction neighborhood. Twenty of the units will be set aside for residents with special needs, and ten will provide Permanent Supportive Housing for formerly homeless residents. On-site services will include after-school health and wellness programs, financial stability classes, parenting, exercise, and early childhood programming. In addition, BHP will partner with local nonprofits, Boulder Shelter for the Homeless and Ramble on Pearl, to provide case management services and resident support. The land and additional funding for 30Pearl is being provided by the City of Boulder.
120 Units: 17 Studios; 48 One-Bedroom; 44 Two-Bedroom; 11 Three-Bedroom
30 @ 30% AMI; 8 @ 40% AMI; 27 @ 50% AMI; 55 @ 60% AMI
4% Credit Awarded: $1,891,472; State Credit Awarded: $838,020
48th and Race, Denver
Developer: Columbia Ventures, LLC
48th and Race will provide 150 new apartments in Denver’s Elyria-Swansea neighborhood. The site is part of the Urban Land Conservancy’s six-acre master planned development which features a 99-year ground lease to help maintain long-term affordability for residents. In addition to studio, one-, two-, and three-bedroom apartments, the development will include 30,000 square feet for Clínica Tepeyac, a federally qualified health clinic, and 7,000 square feet for a fresh food retail grocery store. The development is located within two-blocks of RTD’s N line and is adjacent to a community park and recreation center. Twenty-five percent of the units will be set aside to serve individuals with disabilities. The developer is partnering with the City and County of Denver to establish a neighborhood preference policy to help create stability in the Elyria-Swansea neighborhood, which has been identified by the City as high-risk for gentrification and displacement.
150 Units: 8 Studio; 67 One-Bedroom; 46 Two-Bedroom; 29 Three-Bedroom
45 @ 30% AMI; 30 @ 50% AMI; 75 @ 80% AMI;
4% Credit Awarded: $1,426,865; State Credit Awarded: $912,776
7401 Broadway, Denver
Developer: Unison Housing Partners
Developed by Unison Housing Partners, this site will provide 116 new affordable apartments through the construction of three new buildings and the adaptive re-use of the former Adams County Human Services headquarters, which has been vacant since 2017. Twelve of the apartments will be set aside for youth aging out of foster care, ages 18 to 25. The property for 7401 Broadway has been donated to Unison Housing Partners by Adams County. The site is located near bus service, the Mapleton School District’s newly renovated Global Campus, a park, library, recreation center, and medical clinic. Case management and support services for residents who are aging out of foster care will be coordinated in partnership with the County’s Children and Family Services department.
116 Units: 64 One-Bedroom; 36 Two-Bedroom; 16 Three-Bedroom
8 @ 30% AMI; 4 @ 40% AMI; 46 @ 50% AMI; 58 @ 70% AMI;
4% Credit Awarded: $1,527,916; State Credit Awarded: $927,779
The Atrium at Austin Bluffs, Colorado Springs
Developer: Greccio Housing
Atrium at Austin Bluffs will provide 54 affordable, independent-living apartments for seniors, ages 62+, in Colorado Springs. The development is located within a quiet residential community and in close proximity to a grocery store, health care facilities, and retail options. Residents will have access to an on-site wellness center. On-site resident services will be coordinated with local nonprofit organizations, including transportation and Meals on Wheels delivery provided by Silver Key Senior Services. The land for Atrium at Austin Bluffs has been donated by the City of Colorado Springs.
54 Units: 42 One-Bedroom; 12 Two-Bedroom
6 @ 30% AMI; 6 @ 40% AMI; 21 @ 50% AMI; [email protected] 60% AMI;
4% Credit Awarded: $550,582; State Credit Awarded: $834,215
Capitol Square Apartments, Denver
Developer: 1275 Sherman (Mile High Development)
Capitol Square will provide 103 new affordable apartments for families and individuals, while also raising funds for Colorado’s K-12 BEST program through an innovative partnership with the Colorado State Land Board.
The development includes the demolition of two vacant warehouses and the new construction of a six-story building over structured parking. When complete, the development will feature a green roof and provide affordable housing adjacent to schools, medical services, grocery stores, transit, cultural and recreational facilities.
The Colorado State Land Board is the current owner of the land where the site is located. They will enter into a 50-year ground lease with the developer, with lease proceeds supporting the Land Board’s mission to raise funds for education and the K-12 BEST program through sound stewardship of the state’s real estate assets.
103 Units: 73 One-Bedroom; 30 Two-Bedroom
7 @ 30% AMI; 7 @ 40% AMI; 22 @ 50% AMI; 34 @ 60% AMI; 20 @70% AMI; 13 @80% AMI
4% Credit Awarded: $1,213,140; State Credit Awarded: $1,000,000
Coffman Street, Longmont
Developer: Boulder County Housing Authority
Boulder County Housing Authority will construct 73 new affordable apartments, commercial space, and a parking garage in the heart of downtown Longmont. The apartments will include one, two, and three- bedroom units for families and individuals. The County is providing 12 project-based housing vouchers to support housing for those at-risk of homelessness. Resident services will be available at the Boulder County St. Vrain Hub building, located across the street from the property. The Hub is a one-stop shop for human care assistance, case management, and employment assistance. This development is the result of more than two years of collaboration between Longmont Downtown Development Authority, RLET Properties, a private business owner, and Boulder County with the intent to advance the City’s goal for housing more residences at a diversity of price points in the downtown area.
73 Units: 59 One-Bedroom; 10 Two-Bedroom; 4 Three-Bedroom
12 @ 30% AMI; 3 @ 40% AMI; 8 @ 50% AMI; 50 @ 60% AMI;
4% Credit Awarded: 779,274; State Credit Awarded: $930,000
The Edge Phase II, Loveland
Developer: Loveland Housing Authority
The Edge Phase II will add 69 new affordable apartments to the Loveland Housing Authority’s existing 70-unit Phase One development, which currently has a wait-list of more than 3,000 households. The site is adjacent to key employment centers and the Centerra Master Planned Community restaurants, retail, lakes, and open space. The Loveland Housing Authority has been selected as one of the City of Loveland’s “preferred affordable housing partners” due to their long-term success providing affordable housing in the community. As a result of this local preference, the development will receive fee waivers, an expedited approval process, and sales and use tax exemption from the City.
69 Units: 12 Studios; 21 One-Bedroom; 30 Two-Bedroom; 6 Three-Bedroom
15 @ 30% AMI; 10 @ 40% AMI; 27 @ 50% AMI; 17 @ 60% AMI
4% Credit Awarded: $651,340; State Credit Awarded: $995,933
Legends of Church Ranch, Westminster
Developer: Westminster Leased Housing Associates (Dominium)
Legends of Church Ranch will provide 205 affordable apartments for seniors, ages 55+, on the historic Church family farm in Westminster. The property is located within one mile of several established medical facilities, grocery stores, and retail facilities. Bus service and a bus stop is available within one-half mile from the property. Residents will have access to onsite services and amenities including a library, exercise room, and business center.
The development will include preservation and renovation of the existing 1910 barn and silos located on the property in recognition of the Church family farm’s history, serving as a stage stop for travelers making the two-day trip from Boulder to Denver in the late 1800s.
205 Units: 140 One-Bedroom; 65 Two-Bedroom
20 @ 30% AMI; 25 @ 40% AMI; 25 @ 50% AMI; 45 @ 60% AMI; 45 @ 70% AMI; 45 @ 80% AMI
4% Credit Awarded: $2,260,807; State Credit Awarded: $499,999
Morrison Road, Denver
Developer: Gorman and Company, LLC
Morrison Road will provide 80 new affordable apartments anchored with ground floor commercial space in Denver’s Westwood neighborhood. The development is adjacent to several commercial buildings, small industrial facilities, grocery store, family clinic, and a children’s educational facility. With support from the West Denver Renaissance Collaborative and BC West, Morrison Road is seeking a local business or community resource partner to occupy the property’s ground floor retail, to help advance the neighborhood’s efforts to minimize industrial gentrification in the Westwood community.
80 Units: 24 One-Bedroom; 32 Two-Bedroom; 24 Three-Bedroom
4 @ 30% AMI; 18 @ 40% AMI; 37 @ 60% AMI; 20 80% AMI; One Employee Unit
4% Credit Awarded: $943,721; State Credit Awarded: $800,000
The Park at Colorado Outdoors, Montrose
Developer: Colorado Outdoors, LLC
The Park at Colorado Outdoors will provide 72 new affordable apartments in Montrose. The site is part of a 150-acre multi-phase, residential, business, and manufacturing master-planned community located along the Uncompahgre River. Nearby amenities include a city bus stop, a grocery store, schools, and a new concrete river trail that will connect the northern and southern portions of Montrose and provide access to the community recreation center. The Park at Colorado Outdoors is the second affordable apartment community recently supported with tax credits. The first, Woodgate Trails Senior Apartments, is scheduled to open in the fall of 2019, and currently has a wait list of nearly 100 households.
72 Units: 18 One-Bedroom; 42 Two-Bedroom; 12 Three-Bedroom
13 @ 30% AMI; 6 @ 50% AMI; 33 @ 60% AMI; 10 @ 70% AMI; 10 @ 80% AMI
4% Credit Awarded: $628,161; State Credit Awarded: $738,840
Studebaker and 665 Broadway, Denver
Developer: Denver Housing Authority
This scattered site project will preserve 33 existing affordable rental housing units located at Studebaker Apartments on 15th and Blake Street in Downtown Denver; and the development of 110 new units through the adaptive re-use of a vacant ten-story office building located near the Denver Health Medical Campus.
Studebaker Apartments was originally constructed in 1889 and later renovated in 1993. The site’s affordability provision is set to expire in 2023. The tax credit award will assist Denver Housing Authority (DHA) in raising capital needed to acquire ownership of the building, preserve its affordability, and complete minor renovations to the units and common space areas, as well as integrate energy efficiency improvements.
In addition, DHA will purchase 655 Broadway, a vacant office building that was formerly used as administrative offices for Denver Health. DHA will renovate the building to provide 110 new affordable apartments. Ninety-six of the new apartments will be set-aside to serve seniors ages 62+. The remaining 14 units will be used as Single Room Occupancy (SRO) units for patients with special-needs referred from Denver Health, who are in need of transitional housing. The SRO units will provide Denver Health with a supportive housing option for patients who are medically stable for discharge from the hospital, but who are homeless or precariously housed and unsafe for discharge to self-care on the streets.
143 Units: 18 Studios; 115 One-Bedroom; 10 Two-Bedroom
42 @ 30% AMI; 8 @ 40% AMI; 25 @ 50% AMI; 68 @ 60% AMI
4% Credit Awarded: $1,490,047; State Credit Awarded: $815,000
Thistle Scattered Site Redevelopment, Boulder and Longmont
Developer: Thistle Communities
Thistle Communities will renovate 159 affordable homes located across five apartment communities in Longmont and Boulder. Nineteen of the units are set aside to serve residents with special needs. Building renovations will include health, safety, and energy efficiency improvements that will extend the functionality of the buildings and provide better quality of life for the residents. The renovations will also extend the affordable requirements on each of the properties in perpetuity under the City of Boulder and City of Longmont programs.
159 Units: 1 Studio; 70 One-Bedroom; 88 Two-Bedroom
4 @ 30% AMI; 4 @ 40% AMI; 85 @ 50% AMI; 66 @ 60% AMI
4% Credit Awarded: $1,393,960; State Credit Awarded: $850,000