Our Colorado Market
Since Gorman’s expansion to Colorado in 2014, we have initiated over 1,200 affordable apartment homes in the state. In addition to low income housing tax credit housing, our group has innovated the delivery of “Missing Middle” workforce housing, targeting those earning 80% to 120% AMI.
Our team portfolio includes net zero communities, historic renovation, urban infill, and mountain rural resort development.
Wintergreen Village in Keystone (Summit County), Colorado
Wintergreen Village
Total Development Cost: $58,744,786
Gorman partnered with Vail Resorts to craft seasonal housing for their operational needs, while also including additional apartment homes targeting both 30-60% AMI and 100% AMI. Click for Rental Options.
Alta Verde in Breckenridge, CO
Alta Verde
Total Development Cost: $32,337,000
Alta Verde is an 80-unit new construction apartment community in Breckenridge, Colorado. The Town of Breckenridge awarded a competitive RFP for a developer of the site to Gorman & Company, LLC. This project has a perpetually affordable deed restriction on all units. The project includes 64 LIHTC units, with income and rents capped between 30% and 60% AMI and 16 non-LIHTC units with incomes capped at 100% AMI and rents set to 60% AMI.
The project will be certified by the Zero Energy Ready Home (ZERH) program and will attain a Net Zero Energy designation. Ample on-site amenities will include on-site management, central laundry facilities, year-round bike/pedestrian trail access, picnic area, community room with a kitchen, pet area, tot lot, community garden, electric charging stations and close proximity to the free County-wide bus.
Avenida del Sol in Denver, CO
Avenida del Sol**
Total Development Cost: $27,632,288
This 80-unit affordable family housing development in the Westwood neighborhood of Denver, Colorado closed in August 2020.
The overall project includes one-, two- and three-bedroom units restricted at 30%-80% AMI.
**Avenida del Sol mural credit to Bimmer T.
Avenida del Sol in Denver, CO
Avenida del Sol
Total Development Cost: $27,632,288
More than one-quarter of the units will be restricted at 30% and 40% of the area median income, and 30% of apartments will be three-bedrooms for families in a neighborhood long characterized by larger households.
The Colorado Market in Detail
With a mix of low-income housing tax credit and workforce housing, the Colorado team is working to address both urban and rural housing issues head-on.
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Kimball Crangle
Colorado Market President
Meet Kimball
Kimball is the Colorado Market President for Gorman & Company. Since expanding Gorman & Company to Colorado in 2014, Kimball has initiated 20 developments throughout the state, including over 1,000 affordable and workforce apartment homes, with over 450 more units scheduled to complete construction in 2022-2024. Gorman’s specialty is helping public and non-profit entities realize their vision, using Gorman’s financing and development strategies.
Kimball’s career has been spent implementing housing solutions that are in-line (a.k.a. “Affordable”) with varying income levels. This housing supply has targeted a broad range of individuals, families and seniors and included for-rent and for-sale products for those experiencing homelessness, disabilities, workers, and through a Community Land Trust. Kimball has worked on many sides of the housing aisle and for nonprofits, public entities and for-profit firms as a housing developer, housing market analyst, housing financing underwriting, director of a Community Land Trust and in the policy sphere through advocacy and industry groups. Financing strategies utilized include LIHTC, Historic tax credits, energy tax credits, construction and perm.
Additional development has included Net Zero multifamily communities, mixed-use developments, certified LEED Platinum/Gold housing, Health Impact Assessments and Healthy Housing metrics, along with rich community outreach, to target our developments to the local need.
Cassandra Bishop
Development Project Manager
Cassandra is the Development Project Manager in CO working on all phases of development from site selection to stabilization. She coordinates due diligence of land and financial closing, and bridging communications between development, architecture, construction, & property management.
Cassandra holds a BS from UW Green Bay in Business Administration with an emphasis in Marketing.
Duane Buscher
Senior Financial Analyst
Duane, Senior Financial Analyst, focuses on underwriting LIHTC projects. He works with Market Presidents & Construction Accounting at all stages of development to evaluate feasibility and conduct proforma analysis. He previously worked as an Underwriter for the Missouri Housing Development Commission. He holds a BA in Psychology and a master’s in Urban Planning from the University of Kansas.
Rachel Snethen
Director of Development Operations
Rachel oversees development & marketing along with the EB-5 Regional Center. She provides training, mentorship, quality assurance, and best practice implementation. She manages efforts between funding partners through closing, construction, and stabilization.
Rachel has an MBA & B.S. in Management & Business from Franklin University and Associate Degree in Real Estate from Madison College.
We initiate strategies with integrity, implement innovative solutions, revitalize communities, and build strong neighborhoods through inclusive partnerships.
