Cardinal Capital and its partner HomewardBound of the Grand Valley joined local, state, federal officials and residents to celebrate the grand opening of the Pathways Village Apartments, a 40-unit supportive housing project on Thursday, August 4, 2016 in Grand Junction, Colorado.
Combining affordable housing with access to supportive services, the Pathways Village Apartments helps individuals and families exiting homelessness address vocational, health, and educational needs to lead healthy, productive, and fulfilling lives.
Created through a unique partnership between Cardinal Capital, HomewardBound of the Grand Valley and Hilltop Community Resources, the building is part of a two-phase campus to include a Family Center offering temporary shelter, counseling space for community partners, a commercial kitchen, and child care space.
Formerly homeless adults and families residing at Pathways Village will pay 30 percent of their income for rent and will have access to on-site supportive services provided by Hilltop Community Resources.
The development also includes appliances, a computer lab, a community room, in-unit washer and dryers, Internet access, and a library.
The development team secured Low-Income Housing Tax Credits through the Colorado Housing Finance Authority (CHFA). CHFA also provided permanent financing and the Colorado Department of Local Affairs – Division of Housing supplied critical gap financing with construction financing coming from BMO Harris Bank. Finally, this project would not have been possible without the tax credit equity contribution of American Express through their relationship with The Richman Group. Pathways Village is the culmination of these strong partnerships and the tireless work of other local groups, officials and individuals that understand Grand Junction’s need to provide permanent supportive housing for its most vulnerable citizens.