Colorado Housing and Finance Authority (CHFA) has awarded $2,890,000 in Middle-income Housing Tax Credits (MIHTC) to Lumberyard Apartments in Aspen. MIHTC is a state Housing Tax Credit authorized by the Colorado General Assembly in 2024 and allocated by CHFA. Developed by Gorman & Company, LLC and designed by Cushing Terrell, Lumberyard Apartments will consist of 118 affordable middle-income rental units within a 173-unit development. he project will utilize modular construction to improve efficiency and accelerate delivery while helping address the area’s critical housing shortage. The program serves Coloradoans with middle incomes who, therefore, don’t qualify for housing supported with traditional resources such as federal Housing Tax Credits, yet remain overburdened by market rents.