The NHP Foundation Expands Affordable Housing Initiatives in Colorado

The NHP Foundation (NHPF), a prominent non-profit organization dedicated to creating affordable housing solutions, has recently announced its third property acquisition in Colorado for 2025. This development, situated in the picturesque Sloan's Lake neighborhood of Denver, involves the construction of 158 energy-efficient apartments. Known as Liora at Sloan's Lake, this initiative marks a significant stride forward in addressing the housing needs of the region.

Acquired on September 22, 2025, the 0.9-acre plot of land at 3701 16th Avenue will be developed by Zocalo Community Development, a firm recognized for its commitment to sustainable living. The apartments at Liora will cater to residents earning between 30% to 60% of the Area Median Income, ensuring affordability in an economically thriving area of Denver. Construction is set to commence this fall, reflecting NHPF's ongoing dedication to fostering accessible housing across the region.

Supporting Statements and Partnerships
David Zucker, CEO of Zocalo Community Development, emphasized that this project aligns with the organization’s mission to promote affordable housing at various income levels. The collaboration with NHPF reinforces Zocalo’s goal of balancing investment returns with community and environmental concerns.
Financing for this $60 million development has been facilitated by multiple partners, including the Colorado Housing and Finance Authority (CHFA). They provided tax-exempt bonds and Low Income Housing Tax Credits, essential funding tools for such significant projects. In addition, the State of Colorado has extended support through a $3.85 million Proposition 123 land loan, further underpinning the project's financial foundation.

Neal Drobenare, Senior Vice President of NHPF, highlighted that this venture addresses key priorities set forth by the CHFA Proposition 123 Land Banking Program. These priorities include providing accessible housing options near downtown Denver, catering to diverse income levels, and ensuring environmentally sustainable development practices. With NHPF's consistent growth in Colorado, this new community is anticipated to represent a blueprint for future housing expansions in similar high-need regions.

Previous Initiatives
Earlier in 2025, NHPF has made significant strides in Colorado's housing landscape by breaking ground on 54 units of workforce housing in Frisco, along with the acquisition of another site in the same region to construct 52 additional units. These sites are designed not only to provide affordable living options but also to enhance accessibility to outdoor spaces, fostering community connectivity and well-being.

Tim Pryor, Vice President of Acquisitions at NHPF, noted that the Liora project serves as a vital strategy to maintain affordability while contributing to the economic growth in Denver. This initiative demonstrates the importance of collaboration between public and private sectors to create sustainable, transit-accessible communities.

Environmental and Community Focus
In addition to providing affordable housing, the Liora development is structured to meet Enterprise Green Communities Plus standards, featuring an all-electric HVAC system and other environmentally conscious designs. This commitment to sustainability reflects the growing emphasis on environmental responsibility in real estate development.

Various stakeholders, including local government officials and representatives from the financial sector, have expressed their support for this vital undertaking. Eve Lieberman, the Executive Director of the Colorado Office of Economic Development and International Trade, articulated that projects like Liora at Sloan's Lake are essential for establishing sustainable communities where Colorado residents can thrive.

John Nunnery from PNC Multifamily Capital reinforced the importance of innovative housing solutions, expressing enthusiasm for the positive impact Liora will have on the community. He noted the need for collaborative efforts to tackle the pressing affordable housing shortage across the nation.

As NHPF continues to solidify its role as a pivotal player in affordable housing across the United States, the Liora at Sloan's Lake project exemplifies how dedicated partnerships and strategic planning can lead to meaningful developments in areas facing critical housing challenges. With the support of the diverse financial community and the commitment to sustainable practices, NHPF is poised to significantly enhance the living conditions for numerous families in Denver and beyond.

As the development progresses, stakeholders and community members will be watching closely, anticipating the positive changes that Liora at Sloan's Lake will bring to the local area and serving as a model for future affordable housing endeavors.