An example of a CHFA Multifamily Lending Small-scale Permanent Loan Program project.

Ute Creek
Ute Creek
CHFA customer
Fort Garland, Colorado

Ute Creek, Fort Garland


New construction of 10 units in a small, rural Colorado community to provide affordability with modern construction

Who the Project Serves

Family households earning between 80 and 120 percent of Area Median Income

Community Impact

Ute Creek Apartments provides new middle-income housing to a small community in rural Colorado. The units vary between one, two, and three bedrooms to serve various household sizes.

Project Partners

Adonis Holdings, Louis Lukondi, Sole Managing Member

How We Got the Deal Done

$970,000 CHFA Small-scale Permanent Loan (PDF) with 20-year term, funded through the CHFA Housing Opportunity Fund (CHFA HOF).

Pair with These CHFA Programs

For projects utilizing the Small-scale Permanent Loan Program, we would not likely pair more than one CHFA program due to the inability of these smaller properties to support much debt. These loans are generally funded with the CHFA HOF.


Contact Multifamily Lending

Questions? Our solution-oriented team will help you find the right program to make your project a success. 800.877.2432