Timberview Apartments
Timberview Apartments will bring 24 new, affordable apartments to a residential area near the central business district of Trinidad, Colorado. Trinidad is a main hub for shopping and critical services for the surrounding rural area. This property will help meet the housing demand in an area with aging housing stock in which nearly half of renters pay more than 40% of their income toward rent.
Loan Purpose: Construction
Project: Affordable rental housing
The completed property will have 24 new affordable housing units for residents with incomes below 80% and 120% of AMI.
Loan Details: This was the first Economic Justice Partnership Fund (EJPF) loan. It closed in 2022 and was sourced and closed with the help of the Housing Assistance Council (HAC). The loan supports EJPF’s goal of partnering with small- and medium-sized CDFIs that serve rural areas.