Denver, CO—Native American Bank, N.A. (NAB) provided a $5 million loan for Habitat for Humanity of Metro Denver (Habitat Metro Denver) to renovate the future headquarters for its affordable homeownership programs.
This new, central headquarters will consolidate office and warehouse staff into one location, creating efficiencies that will allow Habitat Metro Denver to better serve families seeking affordable homeownership.
“We are grateful for the funding and partnership of Native American Bank through the New Markets Tax Credit program,” said Jaime G. Gomez, CEO of Habitat for Humanity of Metro Denver. “NAB’s investment and belief in this project shows that they are equally committed to affordable homeownership and providing wealth-building opportunities for families in our communities.”
NAB and the Colorado Housing and Finance Authority (CHFA) attended the Kansas City Fed’s Investment Connection in Denver, where NAB gave a presentation regarding its mission-driven work. CHFA was impressed and deposited $5 million to NAB to fund a local Denver-based project, which would go toward Habitat Metro Denver’s efforts.
Though NAB primarily works with Tribal Nations and Native-owned businesses, it also partners with nonprofits in urban areas that are doing pivotal work that will also benefit Native people and other underserved communities.
“We are honored to partner with Habitat Metro Denver and support its vision of a world where everyone has a decent place to live,” said Joel Smith, President for Native American Bank’s Community Development Division that oversees all New Markets Tax Credit financing. “As housing costs skyrocket across the country, affordable housing is essential for the overall health of Denver’s residents.”
A study from 2022 found that American Indians and Alaska Natives experienced homelessness at a rate 4.5 times higher than any other group in the seven-county Denver area. These disproportionate rates are reflected in many urban cities throughout the country, which stem from federal assimilation policies in the 1950s that promised better housing and jobs for Native peoples who moved to cities from their traditional homelands.
American Indians and Alaska Natives also have some of the lowest home ownership numbers nationwide. Numerous cities and programs throughout the country consider affordable housing a major priority to address the inequity in home ownership.
“Habitat Metro Denver’s new headquarters building at 430 S Navajo St. will support and propel our organization to build and repair more affordable homes, serving even more people in our communities,” said Gomez. “A lack of housing inventory is one of the primary issues driving the affordable housing crisis in Metro Denver. This new headquarters building will create efficiencies and productivity in Habitat’s operations, allowing us to build more homes and bring more affordable homes to the market.”
Photo credit to Habitat for Humanity of Metro Denver, rendering of future headquarters.
Contact:
Veronica Lane
Vice President, Marketing Director
[email protected]
720-963-5515
About Native American Bank
Chartered as a national community development focused bank, Native American Bank, N.A. is also a certified Community Development Financial Institution (CDFI). NAB is committed to being a self-sustaining CDFI and is the first national American Indian-owned community development bank in the country. NAB supports the communities that it services, and it received an “outstanding” score on the most recent Community Reinvestment Act (CRA) exam. Learn more at nativeamericanbank.com.