LAKEWOOD, Colo., May 08, 2024 (GLOBE NEWSWIRE) -- FirstBank, one of the nation's largest privately held banks with a focus on "banking for good," has financed over $500 million in affordable housing since 2020. Recently FirstBank financed $55 million in loans for Willoughby Corner, one of the largest net-zero-ready affordable housing developments in Colorado. Once complete, Willoughby Corner will feature 400 affordable ‘for rent' and ‘for sale' units. FirstBank, which is financing the first two phases including 129 units and community center, was able to provide the developer, Boulder County Housing Authority (BCHA), with an extended ‘rate-lock' on its loan amid rising interest rates. This helped BCHA navigate a complicated closing process and deliver much needed affordable housing to the Boulder area. "Our team is stacked with wonderful partners, and FirstBank has been especially instrumental in supplying financial resources to bring this project to life," said Molly Chiang, Development Director at BCHA. "Their commitment to increasing affordable housing in our local community and throughout Colorado is evident. We're thankful to have a financial partner who prioritizes the needs of the community as much as we do." Willoughby Corner will offer housing for families, individuals, and senior citizens in east Lafayette who are at or below 60 percent of the Area Median Income. Monthly rent for a 1-bedroom will range from ...