7 Denver-Area Affordable Housing Projects Awarded Tax Credits

The Colorado Housing and Finance Authority awarded around $32M in tax credits to nine projects, supporting the construction of 840 affordable rental units, including an office-to-housing conversion.

CHFA announced the recipients earlier this month, including seven developments in the Denver metro area, the Denver Business Journal reported . 

In addition to state and federal credits, five projects also received a transit-oriented communities credit. CHFA says the total private equity raised by the credits will be around $209.5M. 

The Denver metro area projects awarded are:

• New construction at 1001 Lincoln St. in Denver from developers Kentro Group and ComCap Ventures, with 118 units for residents making from 30% to 70% of the area median income. The project received $2M in federal credits, $1.8M in state credits and $153K for the transit credit. 
• A new development at 1139 Delaware St. in Denver with supportive housing for people with intellectual and developmental disabilities. The developer, Sherman Associates Development, is building 80 units available for residents at 30% AMI. It received $1.6M in federal credits and $1.8M in state credits.
• The new Atwood Commons development in Longmont from Brikwell. It will have 72 units for residents ranging from 30% to 80% AMI. The project was awarded $1.3M in federal credits and $1.7M in state credits.
• Central Park Station Phase I in Denver, a new building from Ulysses Development Group that will also house a childcare center. The project includes 156 units affordable for residents ranging from 30% to 70% AMI. It received $3.1M in federal credits, $1.8M from the state and a $200K transit credit.
• A new development from Medici Development called Cole Train in Denver that will have 63 units ranging from 30% to 60% AMI. The building will also provide space for a community nonprofit center. The project was awarded $887K in federal credits, a state credit of $1.1M and an $81K transit credit. 
• Crossbar Commons, a new building in Aurora from Mercy Housing Mountain Plains, with 104 units for residents at 30% to 50% AMI. It got federal credit for $2M, $1.8M in state credits and $135K in transit credit. 
• The University Building Lofts in Denver from Mile High Development and BMC Investments. The downtown office conversion will bring 120 units for residents between 30% and 80% AMI. The project received $3M in federal credits, $1.8M from the state and a $156K transit credit. 

The University Building Lofts conversion is part of a growing trend of downtown buildings being adapted into housing. In February, Denver numbers showed apartment conversions for 2025 would increase 55% compared to 2024.

The projects that received credits also align with Mayor Mike Johnston’s housing goals. In his 2025 State of the City, Johnston pledged to convert 4M SF of office space into housing and emphasized his commitment to increasing affordable housing stock. 

Although multifamily rent growth has softened nationwide, housing costs remain high for many Denver metro residents. Housing affordability has been a concern in the city for more than 10 years, prompting several state and local efforts to introduce more income-restricted housing.