DENVER (September 29, 2023) – On Thursday, Maiker Housing Partners celebrated the grand reopening of Casa Redonda de Vigil, a senior affordable housing community in north Denver, Colo. Casa Redonda originally opened its doors to community members in 1983 and has provided housing for seniors aged 62+ and disabled persons. Renovations to all units and the clubhouse began in March 2022.
“We are so pleased to support our members through this renovation project,” said Peter LiFari, CEO of Maiker Housing Partners. “This goes further than providing a roof over our community members’ heads, we are fostering safe and welcoming environments to ensure our members can thrive.”
Casa Redonda is a 42-unit community consisting of one-bedroom apartments serving seniors who earn up to 60% of the area median income. All 42 units have been renovated with new kitchen cabinets, quartz countertops, stainless steel appliances, tile backsplashes, glass showers and more. Additionally, the community clubhouse received an ADA lift and upgraded laundry facilities, kitchen and leasing office.
The renovations were made possible, in part, with the use of $6.2 million in low-income housing tax credits facilitated by Hunt Capital Partners through a proprietary fund, Hunt Capital Partners Tax Credit Fund 36, with UMB Bank.
“We are happy to support Maiker Housing Partners to help preserve and improve Denver’s supply of much-needed affordable housing for seniors,” said Amy Dickerson, Investor Relations Managing Director of Hunt Capital Partners. “The grand re-opening of Casa Redonda ensures that these seniors can live affordably in upgraded, safe housing refurbished with their quality of life in mind. We are grateful for our partners at UMB for their low-income housing tax credit equity investment which has been instrumental in making the rehabilitation of Casa Redonda possible.”
Additional financing for Casa Redonda also included a $7.5 million tax-exempt construction loan provided by UMB Bank. Other lenders included Lument Capital, who provided $3.2 million in tax exempt bonds as a permanent loan through Freddie Mac, and Maiker Housing Partners, who provided a $5.8 million seller note for construction to permanent financing.
“UMB is very proud to have provided the construction loan and tax credit equity for this project, said Matt Zarlengo, senior vice president, LIHTC at UMB Bank. The rehabilitation of this property will allow for years of continued affordable housing for the current and future residents. “
To learn more about Casa Redonda de Vigil and Maiker Housing Partners, visit www.maikerhp.org.
About Maiker Housing Partners
Maiker Housing Partners is disrupting generational poverty through socially conscious community development in Adams County. We serve all residents of Adams County by providing access to affordable housing options and community services, and partnering with others in real estate to rehabilitate and preserve affordable homes. Every day, nearly 100 Maikers work in tandem with our members to address the systemic problems that are the root of poverty in Adams County. For more information, visit www.maikerhp.org.
About Hunt Capital Partners
Hunt Capital Partners (HCP) is the tax credit syndication division of Hunt Companies, Inc. (Hunt). HCP specializes in the sponsorship of Federal and State Low-Income Housing, Historic, and Solar Tax Credit Investments funds. Since its inception in 2010, HCP has raised over $3 billion in tax credit equity in over 48 proprietary and multi-investor funds. HCP manages almost 760 project partnerships representing over 75,000 homes in 48 states and territories. Founded in 1947, Hunt is a privately held company that invests in businesses focused in the real estate and infrastructure markets. The activities of Hunt’s affiliates and investors include investment management, asset management, property management, development, construction, consulting and advisory. For more information on HCP, please visit www.huntcapitalpartners.com, or for Hunt, please visit www.huntcompanies.com.