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Lumberyard Apartments, photo courtesy of the City of Aspen.
Lumberyard Apartments, photo courtesy of the City of Aspen.
CHFA Awards $2.9m for Lumberyard Apartments in Aspen
ColoradoBiz Staff //July 30, 2026//
In Brief:
- CHFA Awards $2.89 million in tax credits
- Lumberyard apartments to include 173 units
- 118 rentals designated for middle-income residents
- Tax credit program authorized by the Colorado General Assembly
The Colorado Housing and Finance Authority awarded $2.89 million in Middle-income Housing Tax Credits to Lumberyard Apartments in Aspen.
Gorman & Company is developing the 173-unit project, which will include 118 rentals for middle-income residents.
The Colorado General Assembly authorized the tax credit program in 2024 to support rental housing for residents earning between 80% and 120% of the area median income. The limit extends to 140% in rural resort counties.
The program serves residents who earn too much to qualify for housing supported by federal tax credits but struggle to afford market-rate rents.
CHFA is authorized to award $5 million annually in 2025 and 2026. That amount will increase to $10 million annually from 2027 through 2029.
