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2023 round two award descriptions

Developments receiving award reservations include:

901 Navajo Street, Denver
Developer: Mercy Housing Mountain Plains


901 Navajo Street will offer a mix of affordable and Permanent Supportive Housing (PSH) to serve households exiting homelessness as well as families and will be built in Denver’s La Alma/Lincoln neighborhood. The development is the first supported with Housing Tax Credits with a culturally responsive focus on American Indian/Alaska Native residents in the Denver metro region through a collaboration between the Native American Housing Circle (NAHC), Denver Indian Health and Family Services (DIHFS) and the developer. Supportive Services for residents exiting homelessness will be provided by WellPower and the development will include an onsite Federally Qualified Health Center (FQHC) operated by DIHFS. Family program services will also be provided by the developer. The development will receive 94 Project-Based Vouchers through the City of Denver’s Department of Housing Stability (HOST). 901 Navajo Street will be built with an all-electric design.

190 Units: 112 One-Bedroom; 41 Two-Bedroom; 31 Three-Bedroom; 6 Four-Bedroom
94 @ 30% AMI; 20 @ 40% AMI; 32 @ 50% AMI; 44 @ 60% AMI
Federal 4% Credit Awarded: $4,381,283
State Credit Awarded: $1,100,000


Albion Affordable Apartments, Denver
Developer: Delwest Development Corporation


Albion Affordable Apartments will serve families in south Denver’s University Hills neighborhood. The development’s focus on families is emphasized with large unit sizes, including nine townhomes, and inclusion of an Early Childhood Education center onsite with enrollment preference for eligible youth aged two and a half to six, who qualify for the Colorado Childcare Assistance Program (CCAP), as well as the recently adopted Universal Preschool Program (UPP). The development site is near public transportation and local amenities. All residents will receive an RTD pass. The development will certify to Zero Energy Ready Homes, an advanced energy efficiency program, and will be built with an all-electric-ready design.

169 Units: 124 Two-Bedroom; 29 Three-Bedroom; 16 Four-Bedroom
27 @ 30% AMI; 61 @ 60% AMI; 81 @ 70% AMI
Federal 4% Credit Awarded: $3,770,714
State Credit Awarded: $1,100,000


Ascent at Hover Crossing, Longmont
Developer: Pennrose LLC


Ascent at Hover Crossing will serve individuals and families in Longmont and is a partnership between the developer and the Longmont Housing Authority (LHA). The three- and four-bedroom units offered will help meet pent-up demand for family rental housing as other such properties in the area have very low to no vacancy. The development will receive 18 Project-Based Vouchers as well as seller financing for the land from LHA. On-site services will be provided by Pennrose Impact and LHA. Residents will have access to an onsite Early Childhood Education center, as well as nearby access to public transportation, grocery, pharmacy, schools, retail, restaurants, and services. The property will be built with an all-electric design.

75 Units: 18 One-Bedroom; 30 Two-Bedroom; 21 Three-Bedroom; 6 Four-Bedroom
18 @ 30% AMI; 9 @ 40% AMI; 4 @ 50% AMI; 33 @ 70% AMI; 11 @ 80% AMI
Federal 4% Credit Awarded: $1,296,664
State Credit Awarded: $1,100,000


Chrysalis Apartments, Denver
Developer: The Empowerment Program, Inc.


Chrysalis Apartments will be a Permanent Supportive Housing (PSH) development serving formerly homeless residents in central Denver. The development will be built with trauma-informed design throughout the common spaces, including daylight access through the corridors, clear wayfinding, and noise reduction. Supportive services will be provided by The Empowerment Program, which will include individual and group mental health services, trauma and substance-use disorder treatment, specialized health services, social activities, and transportation assistance. Project-based vouchers will be provided by City of Denver’s Department of Housing Stability (HOST) and the Colorado Division of Housing (CDOH). The development is within walking distance of many local amenities, employment opportunities, and transit stops. Chrysalis Apartments will certify to Zero Energy Ready Homes, an advanced energy efficiency program, and will be built with an all-electric design.

70 Units: 30 Studio; 35 One-Bedroom; 5 Two-Bedroom
70 @ 30% AMI
Federal 4% Credit Awarded: $1,138,362
State Credit Awarded: $1,100,000


Denver Dry Goods, Denver
Developer: Perry Rose LLC


Denver Dry Goods includes the preservation and renovation of 39 affordable housing units, conversion of 12 market-rate units to affordable housing, and adaptive reuse of 55 new affordable housing units at a historically significant building originally built in 1888 in downtown Denver. The development will serve individuals and families whose incomes range from 30 to 80 percent of the Area Median Income (AMI). Residents will have access to a full-time resident services coordinator, office center with wireless internet, and other amenity space. The development is within walking distance of public transportation, a grocery store, urgent care, employment centers, entertainment, and services. The renovation will include all-electric design.

106 Units: 66 One-Bedroom; 40 Two-Bedroom
17 @ 30% AMI; 6 @ 40% AMI; 12 @ 50% AMI; 39 @ 60% AMI; 20 @ 70% AMI; 12 @ 80% AMI
Federal 4% Credit Awarded: $2,054,386
State Credit Awarded: $1,100,000


Edge III, Loveland
Developer: Loveland Housing Authority


Edge III is the final phase of The Edge affordable housing development in east Loveland. It will serve individuals and families who will have access to services provided by Aspire, including health, veteran, and transportation services. Edge III will help address high demand for affordable studio and one-bedroom units in Loveland, which have a waitlist of nearly 4,000. The development is being built near many employment centers, as well as grocery, pharmacy, schools, recreation amenities, and public transportation. Edge III will be built with an all-electric design.

66 Units: 24 Studio; 30 One-Bedroom; 12 Two-Bedroom
12 @ 30% AMI; 8 @ 40% AMI; 20 @ 50% AMI; 26 @ 60% AMI
Federal 4% Credit Awarded: $918,458
State Credit Awarded: $999,389


Gateway Village, Fort Morgan
Developer: Rocky Mountain Communities


Gateway Village will serve individuals and families in Fort Morgan and offer a range of unit sizes from one- to four-bedroom units. The development includes the preservation and renovation of 96 existing units and new construction of 24 additional units. The existing property was built in 1975 and this will be its first full-scope rehabilitation, which will include extensive interior, exterior, and common area renovations. The Gateway Village site is across the street from an elementary school and adjacent to a park, and within two miles of a grocery, pharmacy, and other schools. The development’s new construction portion will be built with an all-electric design.

120 Units: 13 One-Bedroom; 30 Two-Bedroom; 53 Three-Bedroom; 22 Four-Bedroom
44 @ 50% AMI; 53 @ 60% AMI; 21 @ 80% AMI
Federal 4% Credit Awarded: $2,163,996
State Credit Awarded: $949,176


King’s Crossing, Aurora
Developer: Community Development Partners


King’s Crossing will be located in Aurora’s Centretech neighborhood and designed as a community for all ages, including older adults, families, and individuals with children, and will offer intergenerational programming and services. Restoration Christian Ministries (RCM) will serve as a partner and provide services at its nearby facility, including a daycare center, café and gathering spaces, employment services, health‐related services, food programs, and case management services. RCM’s facilities also include partnerships that offer culturally relevant health education, screenings, and vaccinations. The site has access to public transportation and is within walking distance to many community amenities. King’s Crossing will be built with an all-electric design.

179 Units: 54 One-Bedroom; 54 Two-Bedroom; 54 Three-Bedroom; 16 Four-Bedroom
18 @ 30% AMI; 73 @ 50% AMI; 48 @ 70% AMI; 39 @ 80% AMI; One Employee Unit
Federal 4% Credit Awarded: $3,595,286
State Credit Awarded: $1,100,000


Rendezvous, Montrose
Developer: Volunteers of America (VOA) National Services


Rendezvous will serve older adults ages 55 and older in Montrose and will involve both preservation and new construction. Residents will have access to health, wellness, and financial services, volunteering opportunities, group meals, grocery delivery, and other services coordinated by a part-time services coordinator and VOA Colorado’s Montrose campus. The site is adjacent to a bus stop, near a healthcare services center and the Montrose Senior Center, and proximate to a grocery store, pharmacy, bank, healthcare, and shopping opportunities. The Montrose County Housing Authority will provide eight project-based vouchers. The new construction portion of the development will use an all-electric-ready design.

52 Units: 28 One-Bedroom; 24 Two-Bedroom
9 @ 30% AMI; 5 @ 40% AMI; 14 @ 50% AMI; 24 @ 60% AMI
Federal 4% Credit Awarded: $958,961
State Credit Awarded: $1,100,000


Village at Homewood Point – Phase II, Colorado Springs
Developer: CS Pike Senior II L.P.


Village at Homewood Point – Phase II will serve older adults ages 62 and older near downtown Colorado Springs on land owned by the Colorado Springs Housing Authority. The development will be near a park, hospital, and other local community and cultural amenities and will help address demand for affordable housing for older adults in the area where vacancies are low, and rents have continued to increase. The development will be built with an all-electric-ready design.

83 Units: 50 One-Bedroom; 33 Two-Bedroom
4 @ 40% AMI; 15 @ 50% AMI; 64 @ 60% AMI
Federal 4% Credit Awarded: $1,584,411
State Credit Awarded: $1,100,000


For more information about the Housing Credit program, please contact Kathryn Grosscup, Manager, Housing Tax Credit at 303.297.7368 or [email protected].