chfa announces 2026 middle-income housing tax credit award

(DENVER) – Colorado Housing and Finance Authority (CHFA) has awarded $2,890,000 in Middle-income Housing Tax Credits (MIHTC) to Lumberyard Apartments in Aspen. Developed by Gorman & Company, LLC, Lumberyard Apartments will consist of 118 affordable middle-income rental units within a 173-unit development.

MIHTC is a state Housing Tax Credit authorized by the Colorado General Assembly in 2024 and allocated by CHFA. The program is the first of its kind in the nation, supporting the development of affordable rental housing serving residents with middle incomes, earning between 80 percent and 120 percent of the Area Median Income (AMI), and up to 140 percent AMI in rural resort counties.

CHFA is authorized to award $5 million in MIHTC annually in 2025 and 2026 and $10 million in 2027, 2028, and 2029. The program serves Coloradoans with middle incomes who, therefore, don’t qualify for housing supported with traditional resources such as federal Housing Tax Credits, yet remain overburdened by market rents.

A full description of the awarded MIHTC development and the 2026 MIHTC award report (PDF) are available on the CHFA website. Additional information about MIHTC is available at chfainfo.com/mihtc.

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