The Colorado Housing and Finance Authority (CHFA) is reserving $14.4 million in federal 9% low-income housing tax credits (LIHTCs) to 12 developments.

md3d/Adobe Stock
md3d/Adobe Stock

The funding from the first allocation round of 2022 will support the construction of 592 affordable units and 605 total units, announced CHFA.

The private-sector equity estimated to be raised by the federal credits awarded exceeds $128 million. In addition, the developments will be supported with a projected $33 million in gap financing provided by the Colorado Department of Local Affairs—Division of Housing.

Developments receiving a LIHTC reservation in the latest round include the 50-unit Fruita Mews by IndiBuild. It will be the first development supported by housing credits with rental subsidy constructed in the city of Fruita, according to officials.

Another is in Colorado Springs, where Silver Key Senior Services is building a 50-unit senior housing community next to its headquarters. Thirteen units will serve older veterans existing homelessness.

Here is a list of the developments receiving a credit reservation:

· Bluebird Longmont, Longmont
Developer: Element Properties

· Brush Village II, Brush
Developer: Northpointe Development II Corp.

· Fruita Mews, Fruita
Developer: IndiBuild

· The Ives, Wheat Ridge
Developer: Foothills Regional Housing

· Launchpad Apartments, Colorado Springs
Developer: Cohen-Esrey Development Group

· The Osborn, Rocky Ford
Developer: Total Concept

· Puwagaan Kaan, Cortez
Developers: The Piñon Project and Blueline Development

· Residences at Dry Cedar Creek, Montrose
Developer: RealAmerica Development

· Silver Key Senior Apartments, Colorado Springs
Developer: Silver Key Senior Services

· SP Crossing, Commerce City
Developers: Nesbitt Development and Brinshore Development

· St. Stephen Apartments, Denver
Developer: MGL Partners

· Willoughby Corner Phase IA Senior, Lafayette
Developer: Boulder County Housing Authority

The developments were selected from 26 applications seeking $32.3 million in credits.

Descriptions of the projects receiving reservations can be viewed here.