FOR IMMEDIATE RELEASE
Colorado Coalition for the Homeless Receives National Honor for Excellence in Affordable Housing
Integrated healthcare and housing development wins 23rd Annual Charles L. Edson Tax Credit Excellence Award from
DENVER, June 7, 2017 — The Colorado Coalition for the Homeless (Coalition), received an honorable mention at the 23rd Annual Charles L. Edson Tax Credit Excellence Awards for their integrated housing and healthcare development -- the Stout Street Health Center and Renaissance Stout Street Lofts, today in Washington, D.C. at the Capitol Visitors Center.
The Edson Awards are presented each year to the most outstanding Low-Income Housing Tax Credit (Housing Credit) developments in eight categories by the Affordable Housing Tax Credit Coalition. Members of Congress, businesses and organizations convene to celebrate Housing Credit developments that are creating stronger, healthier communities in urban, suburban and rural areas across the country. The Housing Credit is America’s and Colorado’s main tool for creating and preserving affordable rental housing.
“Each year, we come together for the Edson Awards to recognize and celebrate the Housing Credit’s unique ability to improve lives, strengthen our communities and boost the economy. This year’s winners remind us how vital the program is for Colorado and America,” said Anthony J. Alfieri, president of the Affordable Housing Tax Credit Coalition. “The Housing Credit is America’s primary source of funding for affordable housing, and as such must be expanded to ensure that more developments like the Stout Street Lofts are possible.”
“We are honored that the Renaissance Stout Street Lofts were recognized as one of the most outstanding Housing Credit developments in the country,” said John Parvensky, President and CEO of the Coalition. “The Renaissance Stout Street Lofts, combined with the Stout Street Health Center, provides residents that previously experienced homelessness, the ability to further positive health status and housing stability, as they thrive and enjoy an improved quality of life.”
The Renaissance Stout Street Lofts feature 59 one-bedroom and 19 two-bedroom apartment homes. Amenities include on-site laundry facilities, a community room with a common kitchen and outdoor courtyard, a computer room, elevator access, video surveillance systems and secured electronic access with underground parking. On-site property managers and social workers are available to residents for various services, as needed. The property was financed with a combination of Low Income Housing Tax Credits, private equity investment, HOME Investment Partnerships Program financing from the City of Denver and the Colorado State Division of Housing, Federal Home Loan Bank funds, and permanent financing through U.S. Bank.
Directly below the Renaissance Stout Street Lofts, is the Stout Street Health Center, a 53,192 square-foot facility that provides healthcare to homeless or at risk individuals and families with an integrated healthcare model. The Federally Qualified Health Center (FQHC) provides access for up to 18,000 individuals each year—many of whom never had access to medical, dental, vision or mental healthcare before.
A panel of four judges selected eight first place winners and eight honorable mentions for this year’s awards program. Given annually by the Affordable Housing Tax Credit Coalition, The Edson Awards are named for Charles L. Edson, an affordable housing luminary who was Transition Director for the U.S. Department of Housing and Urban Development (HUD) on President Carter's Transition Staff. Mr. Edson served in the Office of the General Counsel at HUD and served as Co-Editor-in-Chief of Housing and Development Reporter for nearly 40 years. He is a founding partner of the law firm Lane and Edson, and was later a partner of Nixon Peabody LLP.
About Colorado Coalition for the Homeless
About the Affordable Housing Tax Credit Coalition
The Housing Credit program was created as part of the Tax Reform Act of 1986. Today, the Housing Credit is widely regarded as the nation’s most successful housing production program ever. The housing credit has financed more than 3 million affordable apartments, supporting 96,000 jobs each year, mostly in the small-business sector.