December was a great month to fund public projects to benefit Colorado’s low-income population. Sherman & Howard public finance attorney Cory Kalanick represented the Colorado Housing and Finance Authority (CHFA) as bond counsel in conduit financings that assisted affordable housing developers in five private activity bond transactions of about $150 million to help provide quality housing in Colorado communities.

The following deals will fund the construction or preservation of 720 low-income units:

• Windsor Court is an acquisition/rehabilitation of a 143-unit multifamily rental housing project in six buildings known as Windsor Court Apartments in Aurora. Bonds issued: $31.2 million.
• Trolley Station is a 216-unit multifamily rental housing and transit-oriented development project to be known as Station 60 Apartments on Colfax Avenue in Aurora. Bonds issued: $37.8 million.
• 2700 Wewatta Affordable is a 5-story project with 56 studio, one-bedroom, and two-bedroom apartments in Denver. The project will benefit 18- to 24-year-olds transitioning out of the foster care system or living on the streets because of family conflict, abuse, neglect, poverty, or other hardships. Bonds issued: $15.2 million.
• Krisana Apartments is a 151-unit project of studios, one- and two-bedrooms located on the site of the former Colorado Department of Transportation headquarters near Virginia Village in Denver. Bonds issued: $22.7 million.
• Park Hill Campus is a 154-unit adaptive reuse affordable housing project in four historic dormitory buildings that were part of the former Johnson and Wales Denver campus. Bonds issued: $42 million.

Kalanick said he was fortunate years ago to have been mentored by a member of the public finance group, now retired, whose practice included a strong relationship and history of significant work with CHFA and other state and local housing authorities. Knowing he is a part of the solution to help house lower- and middle-income residents obtain quality housing is now a passion.

“I see development projects going up in my community that I helped finance this year. For me, knowing I get to be a part of the solution to help house people in this state, who wouldn’t normally have that chance to live in the communities where they work, is a great feeling. That’s why I keep doing this every day.”