The Equity program provides below-market-rate equity investments to eligible for-profit and nonprofit entities for the construction or preservation of low- and middle-income multifamily rental developments. A Tenant Equity Vehicle (TEV), funded through program earnings, will be required for developments receiving Equity Financing. Details will be shared as program design is finalized.
|Program Benefits||Below-market equity|
|Eligible Borrowers||• For-profits|
|Eligible Projects||• Construction of new low- and middle-income multifamily rental units|
• Preservation of existing affordable housing units
|Program Allocation||40% to 70% of Affordable Housing Financing Fund (AHFF) allocation|
|Area Median Incomes (AMIs) Served||• 90% average AMI for all restricted units|
• Rural resort communities may petition the Colorado Division of Housing to use more flexible income requirements.
|Tenant Equity Vehicle||A Tenant Equity Vehicle, which may be used for down payment on housing or related purposes, which may also include ongoing opportunities for tenants to build up their savings.|
|Priorities||• High-density housing|
• Mixed-income housing
• Environmental sustainability
This is intended only to highlight certain program requirements. Investments are subject to other requirements including the CHFA Credit Policy and applicable operating and replacement reserve requirements.
How to Apply
More information coming soon.