CHFA, a self-sustaining authority created by the GeneralAssembly in 1973 to provide affordable housing for low- andmoderate-income families, is backing 58.8% of the $14.5-milliontotal cost for the Denver Housing Administration to buy andrehabilitate East Village. The DHA has agreed to pay $12.3 millionfor the complex to Beverly Hills, CA-based Casden Properties Inc.The $14.5-million bottom-line includes rehabilitation of the 199apartments.


David Herlinger, CHFA executive director, says the loan would beamortized over 30 or 40 years. But, it most likely will be repaidas soon as DHA forms a partnership with a private developer toredevelop East Village into a combination of market-rate units andaffordable housing. At that point, DHA will probably seek permanentfinancing from CHFA for the low-income portion of the project, hesays.

Want to continue reading?
Become a Free ALM Digital Reader.

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.