The firm works on exciting and innovating affordable housing and community development projects.
Examples of a few recent projects we have worked on are included here. Please contact us for a comprehensive list.
Image from Parikh Stevens Architects
Vida at sloan’s
Mixed-Use Health, Housing & Active Aging Center
Developer: Denver Housing Authority (DHA) is a quasi-governmental housing authority providing high-quality, affordable housing and community development resources to Denver residents.
Project: Vida at Sloan's constructed a 176-unit mixed-use senior housing project on the former site of St. Anthony’s Hospital, a designated urban redevelopment area. The ground floor utilizes NMTC financing to house a community health clinic subleased to Centura Health (for primary care) and Fresenius (for dialysis), alongside a senior activity center managed by a DHA affiliate. The upper floors provide 100% subsidized affordable rental units for seniors earning 30-40% AMI, financed via 4% and 9% LIHTC.
Location: Denver, CO
Project Cost: $65MM
Tax Credit Allocation: $12MM NMTC Allocation (paired with 4% and 9% LIHTC)
NMTC Net Benefit: $1.8MM
Closed Financing: 2017
Image from Metro West Housing Solutions
Fifty eight hundred
4% acquisition, redevelopment, and New Construction with State LIHTC
Metro West Housing Solutions (Lakewood Housing authority)
The Fifty Eight Hundred project is a redevelopment of an existing, long-vacant office tower and plaza in Lakewood, Colorado into a 152-unit affordable housing complex. The office tower was converted into 54 units and provides pre-built underground parking. The second building was newly constructed immediately adjacent to the office tower and will contain another 98 units. All 152 units are targeted toward workforce and other households earning lower or moderate incomes at 30-60% AMI and offer a diverse unit mix, from studios to three-bedroom units to accommodate individuals, couples, families with children, or other large households. Due to the location and size of the project, Fifty Eight Hundred stands to catalyze positive development in Lakewood, Colorado while providing families with affordable housing.
S.B. Clark Companies assisted in structuring the $40.2 million financing using 4% Federal LIHTC and Colorado State Affordable Housing Tax Credits (AHTC), submitting the application for the Federal LIHTC and State AHTC, soliciting the private activity bond (PAB) purchaser and tax credit investor, and assisting through financial close.
Image from Boulder County Housing Authority
Kestrel
4% LIHTC family and Senior Community
Boulder County Housing Authority
Kestrel is a 190-unit development in Louisville, Colorado that combines 129 multifamily and 71 senior units in an intergenerational, mixed-income master-planned community. The project provides vital replacement housing in an area of Boulder County severely impacted by the 2013 flooding. This community is designed to promote healthy living, intergenerational interaction, and artistic elements, including artist-friendly lofts and a community art yard to facilitate public art installment and workspace. The development also includes 20 permanent supportive housing units for households who are formerly homeless or experiencing a disability, with long term supportive services provided by Mental Health Partners of Boulder and Broomfield Counties and Imagine!. Community amenities include multiple community gardens, a large neighborhood park as well as seven pocket parks, and local and regional trail connections.
In 2015, Kestrel was awarded 4% Federal LIHTC and Colorado State AHTC combined with Community Development Block Grant Disaster Recovery (CDBG-DR) funding set aside for disaster relief projects. The $78 million project financing included $25.3 million in private activity bonds, a second mortgage of $1.4 million from CDOH/Colorado Housing Investment Fund (CHIF), CDOH CDBG-DR funds, and subordinate cash flow loans from Boulder County Housing and Human Services. Complications in the timing of fund availability required a complicated interim bridge loans solution.
S.B. Clark Companies assisted in structuring the complex financing, soliciting the private activity bond purchaser and tax credit investor, and assisting through financial close.