Denver Affordable Housing Secures $50M
MultiHousing News | May 15, 2018
Koelbel and Co., Mile High Development and Longs Peak Advisors have obtained $49.7 million in financing to complete the development of Eaton Street Apartments, a 118-unit affordable housing community in Westminster, Colo., a suburb of Denver. The financing breaks down into a $24.8 million construction loan, a $14.1 million LIHTC equity investment and a $10.8 million Fannie Mae permanent loan. Eaton Street Apartments is a component of the Downtown Westminster redevelopment plan and will be a mixed-use building with more than 22,000 square feet of ground-floor retail space.