Housing Catalyst is the largest affordable housing developer and property management company in Fort Collins. Established in 1971, HC now owns over 1,000 housing units. HC exemplifies high standards in asset and property management; creates vibrant, sustainable communities, and incorporates green building practices into all of its ventures.
HC has received numerous awards for its project designs, innovations, environmental sustainability, accountability and financial reporting. GFOA awarded HC with the Certificate of Achievement for Excellence in Financial Reporting for fiscal years 2013, 2014 and 2015.
HC is led by a strong executive management team with extensive experience in real estate acquisition, development and management, along with strong financial administration and management.
Standard and Poors Rating
Housing Catalyst was issued a AA- rating by Standard and Poors (S&P) in December 2016.
The rating reflects S&P’s view of Housing Catalyst’s strengths, which include its:
- Strong enterprise risk profile, supported by high population growth and a relatively expensive rental market, good asset quality, and very strong management
- Strong financial profile, demonstrated by very low debt obligations and its ability to cover operating and maintenance (O&M) costs from rental income, its capacity to repay debt obligations from earnings before interest, taxes, depreciation and amortization (EBITDA) in a timely manner, an extremely strong liquidity profile, and strong financial policies
- Very strong management, and development plans intended to strengthen its asset quality in the near term
Experience with Leveraging Public Financing
All of HC’s development projects utilize public and private financing. HC has participated in federal programs administered by HUD, utilized funds from the Colorado Division of Housing such as the State HOME Program, and acquired Transit-Oriented-Development Program funding. At the local level, HC uses City of Fort Collins CDBG, and HOME funds.
HC’s experience with private financing instruments includes tax-exempt bonds and low-income housing tax credits — both the 4% and competitive 9% programs. Due to our long-standing relationships and large portfolio, we can secure the most competitive financing terms for a project and the highest available limited partner contributions. We have been successful in acquiring tax credits for a multitude of projects and have partnerships with an array of lenders and investors.
The US Green Building Council reports that existing buildings account for 40% of greenhouse gas emissions, so retrofitting our portfolio makes a substantial contribution to saving the planet. We are always looking for potential energy and water savings opportunities—and the funding to implement and continue this effort. Overall the last several years, we have renovated properties with many water conservation measures, such as installing low-flow fixtures and appliances, and installing energy efficient window, doors and lighting, and replacing old appliances with Energy Star appliances.
HC takes pride in its long-time partnerships and quality developments that strengthen neighborhoods and boost property values. As a leader and advocate of affordable housing in a highly competitive market, we work hard to develop innovative strategies to produce and finance successful projects.
Developing affordable housing can be complex and challenging. Bringing quality affordable living opportunities to life means bringing creativity to the table we share with financial partners and local communities.