DENVER, CO – The NHP Foundation (NHPF), a national not-for-profit leader in providing affordable, sustainable housing, announced the acquisition of land for its third Colorado deal in 2025, marking another significant step in addressing the region’s housing needs. The 0.9-acre parcel, located at 3701 16th Avenue in Denver’s Sloan’s Lake neighborhood, will be developed by managing partner Zocalo Community Development into 158 new energy-efficient apartments known as Liora at Sloan’s Lake. Rents at Liora will be limited to residents earning 30%, 50% and 60% of Area Median Income.
“Liora, and the entire redevelopment of the broader site at Sloan’s Lake, supports our mission to make housing affordability at all levels, both for-sale and for-rent,” said David Zucker, CEO, Zocalo Community Development. “Our partnership with NHPF reinforces Zocalo’s commitment to real estate development that balances investment returns, community, and environmental impact.”
Financing partners for the $60 million development include the Colorado Housing and Finance Authority (CHFA), which provided a tax-exempt bonds and 4% Low Income Housing Tax Credits, the State of Colorado and CHFA which offered $3.85 million Proposition 123 land loan, as well as an $18.5 million loan from Bellwether Enterprise, $24.5 million in LIHTC equity from a PNC Bank-managed fund comprised of a one-third party investor, $9.5 million in subordinate debt from the Colorado Division of Housing and several million dollars in deeply-subordinated loans from Zocalo.
“This project meets all three of the CHFA Proposition 123 Land Banking Program priorities: providing transit-accessible, high-density housing within two miles of downtown Denver; serving households at a mix of income levels; and ensuring environmentally sustainable development,” said Neal Drobenare, SVP of NHPF. “We are proud to expand our footprint in Colorado with another community designed for long-term affordability.”
Earlier this year, NHPF broke ground on 54 units of workforce housing, Galena St. in Frisco, CO. NHPF also bought 101 W. Main in Frisco, where the organization will construct 52 units of workforce housing, with ground-floor space reserved for service providers or local businesses. The site includes a creek easement, improving public access to outdoor spaces.
Tim Pryor, NHPF Vice President of Acquisitions, added “Building 158 energy efficient apartments at Liora is a fantastic way to preserve affordability in an economically flourishing area of Denver. We look at this opportunity as a blueprint for other expansion NHPF is undertaking in areas of need.”
The land was bought from the long-time land owner in partnership with Zocalo. The development will be built to meet Enterprise Green Communities Plus standards, featuring an all-electric HVAC system and other environmentally conscious design elements.
“A strong, thriving economy includes workforce housing so Colorado workers can live in communities they like and close to their jobs. Projects like Liora at Sloan’s Lake are essential to making transit-accessible, sustainable communities that meet the diverse housing needs of Colorado residents, and the State of Colorado is proud to support this development through the Proposition 123 Land Banking program,” said Eve Lieberman, Executive Director of the Colorado Office of Economic Development and International Trade.
“Liora Apartments is a testament to what can be achieved when dedicated partners come together to overcome challenges, and BWE is proud to support this vital effort to meet the urgent need for affordable housing in our community,” said Anthea Martin, Senior Vice President, Bellwether Enterprise.
“At PNC, we are committed to addressing the affordable housing shortage across the country by supporting developments that make lasting impact,” said John Nunnery, senior vice president and manager of Originations for PNC Multifamily Capital. “We look forward to seeing the Liora at Sloan’s Lake development positively contribute to the Denver and broader Colorado communities.”
“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. Through $9.5 million in support from the Department of Local Affairs, this collaboration brings over 150 energy-efficient homes to one of Denver’s most vibrant neighborhoods—close to jobs, schools, and transit. By investing in projects like this, we’re not only expanding housing opportunities but strengthening the foundation of our communities across the state.” Maria De Cambra, Executive Director, Colorado Department of Local Affairs.

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RENO, NV – Hamilton Zanze, a leading San Francisco-based multifamily real estate investment firm, announced it has sponsored the buy of Village of the Pines, a garden-style apartment community in Reno, Nevada. Mission Rock Residential, an affiliate of Hamilton Zanze, has assumed management of the community, which is located just east of key thoroughfare Interstate 580.
“We’ve long admired the Reno market, and we’re excited to sponsor the acquisition of Village of the Pines,” said David Nelson, president and chief investment officer at Hamilton Zanze. “This investment presents a fantastic opportunity for HZ investors to participate in Reno’s post-COVID growth. We were able to assume a highly accretive, fixed-rate agency loan that ensures strong cash flow throughout the hold period. This opportunity was sourced off-market through HZ’s strong relationships in the region. We look forward to pursuing additional investment opportunities in the rapidly growing Reno market.”
Located at 700 E Peckham Lane, Village of the Pines features 272 one-, two- and three-bedroom homes with various layouts available. The community, built in 1974, offers prime freeway access and is within a quick commute of Meadowood Mall, Reno-Sparks Convention Center, Atlantis Casino Resort Spa and a wide variety of additional retail and dining options.
Common-area amenities at the pet-friendly community include an outdoor swimming pool, barbecue/picnic areas, covered parking, laundry facility, playground and an onsite gym. Homes include air conditioning, wood-style flooring, high-speed internet and private patios or balconies.
The transaction represents Hamilton Zanze’s sixth sponsored acquisition of 2025. This includes two June acquisitions in the Reno area, Lakeview and Sand Pebble/Spanish Oaks.

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ATLANTA, GA – Thompson Thrift, a full-service nationally recognized real estate company and one of the nation’s leading multifamily developers, hosted a ribbon cutting for The Levi, a 212-unit Class A multifamily community located in the Atlanta suburb of Stockbridge. Resident go-ins started in August, with construction completion expected in February 2026.
“Celebrating the official ribbon cutting for The Levi is an exciting milestone for our team,” said Angie Atkins, senior vice president of community management for Thompson Thrift. “The Levi offers perfectly designed homes, high-end finishes and a vibrant community setting. We are thrilled to bring this new living option to the Atlanta area.”
Located at 1400 Jr. Grant Blvd., The Levi spans nearly 15 acres and provides 212 one-, two- and three-bedroom apartment homes averaging 1,100 square feet. Each residence includes the premium finishes Thompson Thrift communities are known for, including stainless-steel appliances, hardwood-style flooring, a walk-in shower, various smart home capabilities, full-sized washers and dryers and detached garages. Certain upgraded homes will also elevate the living experience and feature premium cabinetry with soft-close doors and a full-height backsplash, a deluxe closet system with shelving and attached garages.
The signature living experience continues throughout the gated community with a 24-hour fitness center, resort-style swimming pool, firepits, a pickleball court, a dog park, pet spa with grooming station, and billiards and shuffleboard. Residents will also delight in socializing and relaxing in the outdoor seating areas, cooking on the outdoor grills, or working remotely in the focus suites.
The Levi sits within the 158-acre master-plotted Bridges at Jodeco community, placing residents steps away from well loved retail options like Costco Wholesale and Starbucks. Additional shopping and dining including Target, The Home Depot, PetSmart, and the nation’s first two-tale drive-thru Chick-fil-A, are just a small drive away.
At the ribbon cutting, visitors were able to tour the model and explore the professionally decorated clubhouse and community amenities. As part of Thompson Thrift’s ongoing commitment to community engagement, they presented a check to local non-profit A Friend’s House to aid their efforts in providing shelter, care and permanency plotting for youth in crisis, working to heal and support children who have experienced abuse, abandonment or neglect.

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