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Clara Brown Commons

Weave is assisting Mile High Ministries (“MHM”) with the structuring and closing of up to $2.2 million in impact investment for the pre-development and construction of the project. Once the project is under construction, up to $6 million in long term permanent impact investment will be sought to free up cash flow to support onsite services.

Service

Impact Investment Consulting

Location

Denver, Colorado

Brief

Clara Brown Commons (“CBC”) is a community focused affordable housing community on a former long term blighted block in the Cole neighborhood in Denver. The site is currently hosting a tiny home village for women transitioning from homelessness. Mile High Ministries currently operates a transitional housing shelter for families. The affordable rental and for-sale housing at CBC will be targeted next steps for former clients of MHM’s existing programs.

Impacts

61 one to three bedroom rental units, affordable to 30% to 60% of AMI

18 Affordable for-sale townhomes (average 80% of AMI)

Early Childhood Education Center

Uses

Impact investments will facilitate the pre-development and construction of the project. Permanent impact investment funding will free up cash flow for additional residential services.

Financing

$1.275 million in program related investments to date