NHPF and Zocalo Spearhead Innovative Affordable Housing Project, Liora at Sloan’s Lake
The Multifamily Apartment Industry continues to be a beacon of innovation and crucial development in addressing housing needs across the nation. A shining example of this endeavor is the acquisition of a 0.9-acre land in Denver, Colorado, which is set to transform into the energy-efficient Liora at Sloan’s Lake—a project masterfully spearheaded by The NHP Foundation (NHPF) alongside Zocalo Community Development.
This strategic move signifies NHPF’s third Colorado deal within 2025 and is an impactful stride towards achieving housing affordability in the region. The proposed 158 apartments are designed to cater to families earning 30%, 50%, and 60% of the Area Median Income, ensuring that residents from various economic backgrounds have access to sustainable living spaces.
David Zucker, CEO of Zocalo Community Development, highlights that the endeavor goes beyond mere construction. In his words, “Liora, and the entire redevelopment of the broader site at Sloan’s Lake, supports our mission to create housing affordability at all levels, both for-sale and for-rent. Our partnership with NHPF reinforces Zocalo’s commitment to real estate development that balances investment returns, community, and environmental impact.”
Liora at Sloan’s Lake is a $60 million development made possible through a broad range of financial partners, including the Colorado Housing and Finance Authority, the State of Colorado, Bellwether Enterprise, and PNC Bank-managed funds. These partnerships merge fiscal astuteness with a mission of community betterment, establishing a prototype for multifamily housing developments.
Neal Drobenare, SVP of NHPF, stresses that the project addresses critical housing program priorities: transit accessibility, high-density housing, environmental sustainability, and inclusivity for varied income households, while Tim Pryor, NHPF Vice President of Acquisitions, sees Liora as a blueprint for progressive expansion in areas of need.
The State of Colorado upholds the significance of such projects. Eve Lieberman, Executive Director of the Colorado Office of Economic Development and International Trade, states, “A strong, thriving economy includes workforce housing so Colorado workers can live in communities they love and close to their jobs.”
Support resonates throughout the financial sector as well, with Anthea Martin of Bellwether Enterprise and John Nunnery of PNC Multifamily Capital emphasizing the critical role of collaborations like Liora in addressing community housing shortages.
Maria De Cambra, Executive Director of the Colorado Department of Local Affairs, encapsulates Liora’s importance: “Liora at Sloan’s Lake is a model of what we can achieve when public and private partners come together with a shared commitment to making housing more affordable for Colorado residents.”
As the Multifamily Leadership community, we stand in recognition of the milestones achieved by NHPF, Zocalo Community Development, and their partners. Liora at Sloan’s Lake is not only a benchmark for affordable, sustainable housing development but a testament to the collaborative potential within the industry that fuels community growth and sets the foundation for thriving economies.