Grants & Loans

Lazy K | West Tomichi Avenue (1300 Block), City of Gunnison

When completed, Lazy K will be a 4+ acre neighborhood that includes homes, trails, ponds, parks, and a playground. VHF participated in the project’s early planning stages with the City of Gunnison and contributed $338,000 to this public-private partnership. This grant allowed the City to leverage an additional $1.2 million grant from CO Dept. of Local Affairs. Four affordable cabins have already been constructed and sold to local families through a housing lottery, and nine more will close by the end of August 2022. Over the next several years a total of 44 income-restricted homes will be built, along with 21 free market homes.

  • 44 income-restricted ownership cabins and duplexes, 3, 4, and 5-plexes, and 21 free market
  • Phase 1 and 2 is income-restricted to 80%-120% AMI and below, and employers can purchase units at 120% AMI for employee housing
  • Live close to the community you serve
  • Increase quality of life by including neighborhood amenities like recreation and green space

Paradise Park Duplexes | Town of Crested Butte

The Valley Housing Fund participated in the Town of Crested Butte’s Paradise Park affordable housing builds. VHF supported the Town in the early stages of each project by participating in the developer selection process and granting funds to hire a third party consultant to help oversee the project. VHF also granted the Gunnison Watershed School District $30,000 to help purchase a duplex to rent to school employees.

  • 30 ownership duplexes, triplexes, and single family homes
  • Affordable, deed restricted homes available to various AMI levels
  • Live close to the community you serve
  • Decrease environmental impact by shortening commute times
  • Increase quality of life by shortening commute times
  • Opportunity to add up to 18 additional homes in the future

GardenWalk | 800 N. Colorado St., City of Gunnison

GardenWalk is a 9% Low-Income Housing Tax Credit (LIHTC) project that was completed in 2021. The Valley Housing Fund is proud to have contributed a $50,000 low-interest loan to the developer to help acquire a larger loan from the Colorado Housing and Finance Authority (CHFA) to ensure completion.

  • 36 apartment rentals (one and two bedroom)
  • Income-restricted to 30-60% AMI and below
  • On-site community building with a fitness center, library, and large kitchen for gatherings
  • Live close to the community you serve and the city’s shops and services

Anthracite Place | 513 Belleview Avenue, Town of Crested Butte

anthracite place crested butte co

Located in downtown Crested Butte, Anthracite Place is a Low Income Housing Tax Credit (LIHTC) apartment complex, which means that federal funds assisted with construction costs. The Valley Housing Fund was a major contributor to this project, granting $335,000 toward the initial $1 million land purchase, and then loaning an additional $400,000 for construction costs to make the project happen.

  • 30 apartment rentals (24 one-bedroom & 6 two-bedroom)
  • Income-restricted to 60% AMI and below
  • Designed to be energy efficient per Enterprise Green standards
  • Live close to the community you serve
  • Decrease environmental impact by shortening commute times
  • Increase the quality of life by shortening commute times