Washington, D.C. – The Affordable Housing Tax Credit Coalition (AHTCC) today announced that Renaissance Veterans Apartments at Fitzsimons in Aurora, Col., is a 2021 recipient of the Charles L. Edson Tax Credit Excellence Award in the Housing for Veterans of the Armed Forces category, recognizing affordable housing developments and organizations that have demonstrated impactful use of the Low-Income Housing Tax Credit (Housing Credit).
Presented annually, the Edson Awards honor Housing Credit developments that strengthen communities, improve resident opportunities and support economies in urban, suburban and rural areas across the country. This year, the awards coincide with Congress’ consideration of budget reconciliation legislation that would make major investments in housing infrastructure – at a time when communities nationwide face ongoing economic challenges and housing insecurity from the lingering effects of the COVID-19 pandemic.
“Affordable homes developed with the Housing Credit prove that an effective solution exists for the housing crisis that continues to impact communities and families nationwide,” said AHTCC Executive Director Emily Cadik. “This year we are awarding properties serving veterans, individuals suffering from opioid addiction, and low-income senior citizens, in addition to outstanding affordable housing preservation efforts and new construction built to meet the needs of surrounding communities. These are just a few examples of what the Housing Credit achieves every day to provide much-needed affordable housing.”
Renaissance Veterans Apartments at Fitzsimons, developed by the Colorado Coalition for the Homeless, provides permanent supportive housing for veterans. Completed in December 2020, the development provides 59 affordable homes, with 49 of the homes reserved for homeless veterans, 10 homes reserved for physically disabled veterans, and a portion of units reserved for residents making 30, 40, 50, or 60 percent of Area Median Income (AMI). The 9 percent Housing Credit was used to finance the property, with syndication provided by National Affordable Housing Trust and investment provided by Bank of the West. The property has an on-site, full-time resident services coordinator who assists residents with social services needs, such as case management, referrals, transportation to appointments, as well as medical and behavioral health services.
Since 1986, the Housing Credit has financed more than three million homes for low-income households, including and formerly homeless individuals and families, people with disabilities, veterans of the armed forces, and senior citizens. Through public-private partnerships, the Housing Credit offers a proven track record of financing safe, modern and well-designed affordable homes in communities where they are needed most.
“The Edson Award winners this year demonstrate the flexibility of the Housing Credit to meet the needs of households and communities from Eagle River, Alaska; to Wichita Falls, Texas; to Aurora, Colorado,” said Matt Josephs, AHTCC Board President and Senior Vice President for Policy for the Local Initiatives Support Corporation. “As we continue to confront the impact of the pandemic, it is vital that tools like the Housing Credit are enhanced and strengthened, so that we can better address our national housing crisis that grows more urgent by the day.”
For more information about the 2021 Edson Awards, please visit taxcreditcoalition.org/edson-awards/.
About the Affordable Housing Tax Credit Coalition
Founded in 1988, AHTCC is a trade organization of housing professionals who advocate for affordable rental housing financed using the Low-Income Housing Tax Credit (Housing Credit). AHTCC’s for-profit and non-profit members—including syndicators, investors, lenders, developers, legal and accounting professionals and state allocating agencies—seek to preserve, expand and improve the Housing Credit and complementary programs through legislative outreach and education.
About Charles L. Edson
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 under President Carter, 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.