rental housing

Reserves at Eagle Point Celebrates Grand Opening

A grand opening celebration was held on March 18th for The Reserves at Eagle Point in Aurora. Developed by Overland Property Group, The Reserves offers 192 affordable apartments for individuals and families with incomes between 30 percent and 80 percent of the Area Median Income (AMI). It is a part of a master planned community on a site that is near job centers, open space, and schools. CHFA supported the development with an award of $1M in state Affordable Housing Tax Credits and $3.9M in federal 4 percent Housing Tax Credits in 2022. CHFA also supported the development through the issuance of $43M in Private Activity Bonds. Kathryn Grosscup, CHFA Housing Tax Credit Manager, was on hand to deliver remarks on CHFA’s behalf. 

Customers

business lending

Shaw Solar Transitions to Co-op Model with Cash Collateral Support

‍Shaw Solar is a Durango-based solar, energy storage, and heating and cooling contractor. Founded in 2007, the company primarily focuses on residential and commercial solar panel installations in Durango and the surrounding region. Additional services offered by the company include electric vehicle charging station installations, battery systems, and servicing and maintenance. In March, Shaw Solar received a loan from First Southwest Bank alongside a cash collateral deposit of $1M from CHFA’s Cash Collateral Support (CCS) program. The financing will assist the organization in its transition to becoming an employee-owned cooperative while supporting the retention of 30 existing employees and creating four additional full-time jobs.

Customers

community partnerships

Investments Support Pueblo Housing Rehabilitation and Mobility Upgrades

In March, CHFA provided two grants to support housing rehabilitation and mobility upgrades in Pueblo and the surrounding community. A $40,000 grant to Pueblo County Department of Human Services will help the county to preserve and improve the quality of its existing housing through its Weatherization Assistance Program (WAP) and Emergency Repair and Essential Services Program. These programs will assist income-qualified households with energy efficiency improvements and emergency repairs.

To further support efforts in the region, CHFA made a $25,000 investment in Habitat for Humanity of Pueblo toward their Ramp Up Pueblo program. The program constructs and installs access ramps onto homes, helping individuals with disabilities or limited mobility to safely enter and exit their homes, fostering independence and improved quality of life.