Twelve developments have been awarded 9% low-income housing tax credit (LIHTC) reservations from the Colorado Housing and Finance Authority (CHFA).
The projects will support the construction of 605 affordable rental units that will be home to individuals and families as well as households exiting homelessness, older adults, and veterans.
Developers will use the LIHTC awards to develop homes in Boulder, Colorado Springs, Crested Butte, Denver, Frederick, Glenwood Springs, Greeley, Lakewood, Pagosa Springs, Rifle, and Windsor.
CHFA received 26 applications in its first allocation round of the year.
The total private-sector equity investment estimated to be generated from the federal tax credits awarded in this round exceeds $149.9 million.
The developments receiving housing credits are:
· 10th and Sheridan, Denver
Developer: Mental Health Center of Denver, dba WellPower
9% Credit Awarded: $1,450,000;
· The Benedict, Glenwood Springs
Developer: Archdiocesan Housing
9% Credit Awarded: $1,449,710;'
· Brigit’s Village, Frederick
Developer: Jon Peterson
9% Credit Awarded: $1,420,000;
· Diagonal Plaza, Boulder
Developer: Boulder Housing Partners
9% Credit Awarded: $1,450,000;
· Henninger Legacy Homes, Denver
Developer: Atlantis Community Foundation
9% Credit Awarded: $1,450,000;
· Jacoby Meadows, Windsor
Developers: Windsor Housing Authority and Loveland Housing Authority
9% Credit Awarded: $1,450,000;
· Mineral Point, Crested Butte
Developer: TWG Development
9% Credit Awarded: $1,250,000;
· Point of the Pines Villas, Colorado Springs
Developer: MEJansen Development Co.
9% Credit Awarded: $1,144,385;
· Rifle Apartments, Rifle
Developer: Evergreen Real Estate Group
9% Credit Awarded: $1,450,000;
· StarRise at North Weld Village, Greeley
Developer: High Plain Housing Development Corp.
9% Credit Awarded: $1,450,000;
· Trails at Pagosa Springs, Pagosa Springs
Developer: Generation Housing Partners
9% Credit Awarded: $1,450,000; and
· Williams Pointe, Lakewood
Developer: Metro West Housing Solutions
9% Credit Awarded: $1,430,242
Full descriptions may be viewed here.
