LAKEWOOD, Colo., July 17, 2024 (GLOBE NEWSWIRE) -- FirstBank, one of the nation’s largest privately held banks with a focus on “banking for good,” recently closed a $21 million loan with Boulder Housing Partners (BHP) to support the Hawthorn Court development. The project broke ground on May 14 and will add 73 units, including 40 one-bedrooms, 27 two-bedrooms, and six three-bedrooms to the City of Boulder.
“By funding affordable housing, we’re providing security, consistency and sustainability to countless individuals and families,” said Adam Sands, Chief Banking Officer at FirstBank. “Safe and attainable housing is also crucial in fostering a strong economy, and we're excited to support Boulder Housing Partners in building a foundation for everyone to thrive.”
Hawthorn Court will primarily serve households making 30% to 60% of the Area Median Income (AMI), providing much-needed housing options for families across the income spectrum. Five units will also be set aside for families experiencing or at risk of homelessness.
In addition, Hawthorn Court will prioritize sustainability. The development will feature solar energy, high-efficiency all-electric HVAC systems, high-performance windows, electric vehicle parking, and certifications from Enterprise Green Communities, Energy Star, and Zero Energy Ready Homes. The community is located near public transit and retail stores, making the location walkable and eco-friendly.
"Boulder Housing Partners is dedicated to meeting the urgent need for affordable housing by providing accessible housing,” said Laura Sheinbaum, Chief Real Estate Officer at BHP. “We're thankful for partners like FirstBank that help turn this vision into reality."
To learn more about how FirstBank supports affordable housing, watch the bank’s Unlocking CO content series or visit efirstbank.com/firsthome.
About FirstBank
FirstBank began providing banking services in 1963. Today, it’s known as an industry leader in digital banking. It has grown to be one of the top performing and largest privately held banks in the United States, maintaining over 100 branch locations across Colorado, Arizona, and California. FirstBank offers a variety of consumer deposit accounts, home equity loans, mortgages, rental property loans, and a full range of commercial banking services, including business financing, commercial real estate loans, treasury management, and more. Since 2000, FirstBank has been recognized as a top corporate philanthropist, contributing more than $90 million and thousands of volunteer hours to charitable organizations. The company is also unique in that a large portion of its stock is owned by management and employees, giving employees a financial stake in the bank’s success through its Employee Stock Ownership Program. For more information, visit www.efirstbank.com. Member FDIC.
About Boulder Housing Partners
Boulder Housing Partners strives to make living in Boulder welcoming and affordable for people from a diverse range of backgrounds, regardless of income. The housing authority for the City of Boulder for over 55 years, BHP builds, owns, and manages quality affordable homes for low and moderate-income residents, while fostering thriving and sustainable Boulder communities. BHP is one of a select group of public housing authorities in the United States participating in the prestigious Moving to Work program, which encourages innovation by providing flexibility in the use of federal funds. Its communities have won national and international awards for sustainability and affordable housing development. For additional information on BHP, please visit www.boulderhousing.org.
Media Contact:
Chandra Brin
303.235.1402
Chandra.Brin@efirstbank.com
