Walker and Dunlop has lined up $16.7 million in equity for Verrbena, a 70-unit affordable housing community in Westminster led by Maiker Housing Partners. Plans call for 48 one-bedroom apartments and 22 two-bedroom units, plus an on-site Head Start daycare and family-support programming. Maiker says Verrbena is being designed with neuro-inclusive features to better serve residents with intellectual and developmental disabilities.
The equity placement was first reported by the Denver Business Journal, which detailed Walker & Dunlop’s role in arranging the capital. That coverage outlines the roster of partners and the pieces of the financing package now being finalized as Maiker advances its acquisition and rehabilitation plans.
According to Maiker Housing Partners, Verrbena will include ten units specifically tailored for adults with intellectual and developmental disabilities, along with public parks, a clubhouse, and educational spaces that can serve up to 80 children. Maiker also notes the community will be built to The Kelsey Inclusive Design Standards and will reuse the former Boyer’s Coffee roasting site in southwest Adams County as the project footprint.
How the deal is structured
In a post on Kutak Rock, the firm says it served as bond counsel for the issuance of Multifamily Housing Revenue Bonds that will support Verrbena’s acquisition and rehabilitation. Those bonds, combined with the equity arranged by Walker & Dunlop, are part of a layered financing stack intended to lock in long-term affordability for the development.
Why it matters locally
Projects like Verrbena carry extra weight in Adams County as housing costs across Colorado continue to climb, squeezing renters and low-income families across the Denver metro. The Denver Gazette recently reported that Colorado now ranks among the most expensive states in the country and that state programs have accelerated funding to help build thousands of affordable units…