Metro Denver Impact Facility (MDIF)
Funding affordable real estate in today’s market requires creative solutions.
ULC launched the Metro Denver Impact Facility (MDIF) in 2018 in partnership with FirstBank, to combat the real estate affordability crisis in the Denver region through the acquisition and preservation of affordable housing, facilities for nonprofits, schools, and other spaces that benefit the community.
MDIF is a $75 million revolving loan facility assembled by ULC and used at ULC’s discretion. MDIF loans are low-interest and interest-only, and their terms are pre-negotiated. Because of its simplified loan-approval process, MDIF allows ULC to move quickly and compete with market-rate buyers in its efforts to acquire real estate for community benefit.
MDIF is supported through a collective of lenders, led by FirstBank, which committed $37.5 million in a 10-year revolving credit agreement. Other MDIF partners include the Colorado Division of Housing, Colorado Housing and Finance Authority, Colorado Health Foundation, Gates Family Foundation, Colorado Trust and Gary Community Ventures.
How MDIF Works
FirstBank’s loan is the principal debt and the bank underwrites each acquisition for all the MDIF lenders. As the creator and sole borrower from the facility, ULC oversees the development plan, the structure of permanent financing, and the disposition of acquired properties. In most cases, ULC retains ownership of land through a 99-year land lease. MDIF achieves below-market interest rates by blending discounted bank funds (driven by the Community Reinvestment Act of 1977) with extremely low-cost nonprofit, public and philanthropic dollars.
Proven History & Experience
As of 2023, MDIF had funded 40% of ULC-owned properties, to the tune of $81 million. ULC has a strong track record of creating, leveraging, and paying back revolving loan funds for affordable real estate investments. Innovative financing methods like MDIF and others — such as the $15 million regional TOD Fund and the $10 million Calvert Facility Fund — allow ULC to deliver on its mission and make a difference in the lives of thousands of Coloradans.
MDIF Funded Properties
![](https://www.urbanlandc.org/website/wp-content/uploads/2022/09/South-Platte-Crossing-500x400-1.jpg)
South Platte Crossing office and apartments in Commerce City
MDIF Investment: $4.4 million
Type: Nonprofit office preservation/residential development opportunity
![](https://www.urbanlandc.org/website/wp-content/uploads/2022/09/chestnut-lofts-500x400-1.jpg)
The Burrell in Denver’s Five Points Neighborhood
MDIF Investment: $830,000
Type: Permanently affordable for-sale housing
![Colfaxlab for social good lobby](https://www.urbanlandc.org/website/wp-content/uploads/2023/01/ColfaxLab-Lobby.png)
ColfaxLab for Social Good in Aurora’s East Colfax Neighborhood
MDIF Investment: $3.1 million
Type: Commercial space for nonprofits & future affordable housing
![](https://www.urbanlandc.org/website/wp-content/uploads/2020/07/Harlan-Non-Profit-Center-Photo-03-1-scaled-1.jpg)
Harlan Nonprofit Center East and West in Lakewood
MDIF Investment: East: $3.9 million, West: $3.2 million
Type: Preservation of nonprofit commercial space
![](https://www.urbanlandc.org/website/wp-content/uploads/2021/06/Holly-Square-Photo-23-1-scaled-1.jpg)
Holly Square in Denver’s Northeast Park Hill Neighborhood
MDIF Investment: $3.8 million
Type: Community development
![](https://www.urbanlandc.org/website/wp-content/uploads/2021/06/st-elizabeth.jpg)
Mosaic Community Campus in Denver’s South Park Hill Neighborhood
MDIF Investment: $21.2 million
Type: Preservation of educational, future affordable housing, and community-serving space
![la tela la tela](https://www.urbanlandc.org/website/wp-content/uploads/2021/07/la-tela.jpg)
La Tela in Denver’s La Alma / Lincoln Park Neighborhood
MDIF Investment: $1.8 million
Type: Land acquisition for permanently affordable for-sale housing
![LH Resized for web Machebeuf Hall at Loretto Heights](https://www.urbanlandc.org/website/wp-content/uploads/2023/01/LH-Resized-for-web-590x366.png)
Machebeuf Hall & the Arts Building at Loretto Heights in Denver’s Harvey Park Neighborhood
MDIF Investment: $3.35 million
Type: Building and land acquisition for development of a community center and future affordable housing
![ReVision 6 ReVision's front door](https://www.urbanlandc.org/website/wp-content/uploads/2023/01/ReVision-6-590x366.jpg)
Meade Street Gardens in Denver’s Westwood Neighborhood
MDIF Investment: $1.6 million
Type: Land acquisition for community serving space
![IMG_8170 (2) Front of Umatilla warehouse with a sign out front for TACT](https://www.urbanlandc.org/website/wp-content/uploads/2023/01/IMG_8170-2-scaled-590x366.jpg)
Umatilla/TACT Warehouse in Englewood
MDIF Investment: $2.8 million
Type: Land acquisition to provide space for Teaching the Autism Community Trades (TACT)
![Westminster TOD Exterior](https://www.urbanlandc.org/website/wp-content/uploads/2023/01/DSC_0377.jpg)
Westminster TOD I and TOD II in Westminster
MDIF Investment: TOD I: $1.7 million, TOD II: $4.3 million
Type: Future affordable housing/community development opportunity
![](https://www.urbanlandc.org/website/wp-content/uploads/2022/08/IMG_0406.jpeg)
Viña Apartments and Tepeyac Health in Denver’s Elyria-Swansea Neighborhood
MDIF Investment: $5.4 million
Type: Nonprofit office preservation/permanently affordable housing