CCH Unveils New $14 Million Affordable Housing Community in Colorado Springs
Oakland, CA: September 2, 2016
Christian Church Homes (CCH) is excited to unveil its newest affordable housing community in Colorado Springs, Colorado. This three-story property provides 77 new one-bedroom and two-bedroom apartments for low-income seniors. The project was originally conceived as a HUD 202, but was converted to a Low-Income Housing Tax Credit (LIHTC) development when Congress stopped funding the HUD program. This newest community crowns six years of development efforts by CCH in order to serve the seniors of Colorado.
In 2014, Colorado Housing Finance Agency (CHFA) awarded an LIHTC 9% after multiple applications. Together with an award of $500,000 from the City and $300,000 from the State, CCH is able to secure financing of $14.1 million to build this state of the art community. Funders and partners include the City of Colorado Springs, the State of Colorado, Colorado Housing Finance Agency, Chase, and National Equity Fund.
Hatler May Village is named after the Rev. Gay Hatler, retired minister of First Christian Church in Colorado Springs, and posthumously after Bill May, a retired Air Force officer, local realtor and Disciples lay member.
CCH CEO and President Don Stump comments, “Moments such as these speak clearly to the commitment CCH, its partners, and supporters have made to providing affordable housing to the local commonwealth. This can only be topped by the handing of keys to the newest members of this wonderful community.”
Established in 1961, Christian Church Homes is a non-profit organization that has been building and managing affordable housing communities where seniors can live and thrive in the comfort of their own home. Having served over 100,000 seniors over 50 years, CCH has now grown to 57 caring communities that are More Than A Home to residents in seven states. These communities benefit more than 4,000 seniors, as well as the local neighborhoods, towns and cities in which they live. Visit www.cchnc.org for more information.