The bank is also the senior lender for The Midland Apartments in Chaffee County and

The Park Ridge portfolio in Brighton, Limon and Estes Park

Buena Vista, CO (June 25, 2024) – Collegiate Peaks Banks is proud to announce that it is financing yet another affordable housing project, The Crossing in Buena Vista.  A groundbreaking for the project is scheduled for June 27.

The planned development is based on the history of Buena Vista and involves mining, agriculture, and railroad aesthetics. The development will have a range of homes at a variety of prices from a thirty-unit apartment building with rents ranging from $1,300 to $1,400 per month, two-bedroom homes in the $320,000 to $330,000 range, three-bedroom homes at less than $400,000, and lots for custom homes.  Out of the 114 homes that will be built in the first phase of our project, 57 will be permanently deed restricted for certain income levels basically between 75 and 100 percent of the Area Median Income [AMI] for people who live and work in Chaffee County.

“There is an obvious and growing need for affordable housing throughout Colorado and our bank’s participation in projects like The Crossing have helped to make them a reality,” said Liam Girard, President of Collegiate Peaks Bank.  “Our experience in real estate financing, along with our strong network of connections and knowledge of how to make difficult projects a reality are key contributors to providing affordable housing to people and families in various cities and towns.  We’re very proud to be part of this very important market segment.”

 In addition to Collegiate Peaks Bank, funding The Crossing is pursuing includes: a $2 million infrastructure grant from Energy/Mineral Impact Assistance Fund (EIAF) and Division of Local Government (DLG); a $3 million infrastructure loan from Transformational Housing Loan Fund (THLF) and DOLF; a $5 million CHT loan from Colorado Housing and Finance Authority.

In addition to The Crossing, Collegiate Peaks Bank is also financing The Midland Apartments in Chaffee County on behalf of Fading West Development, and four projects located in Brighton, Limon and Estes Park that make up Chrisman Development’s Park Ridge portfolio.  The financing represents Collegiate Peaks Bank’s ongoing efforts to help make affordable housing a reality in Colorado.

Detailed news releases about the Midland apartments and the Park Ridge portfolio are available by contacting Suter Media Relations.

Collegiate Peaks Bank is committed to supporting the communities it serves and has made it an important part of the company culture. The bank’s employees donate their time and effort to causes that help to build a strong community spirit and contribute to the success of the businesses, organizations and individuals around them.

Our Bank was founded in the mid 1980’s by a group of local Community Members in Buena Vista, Colorado. The Bank was acquired by Glacier Bancorp, Inc. on February 1, 2018. The bank is now a division of Glacier Bank, a regional bank holding.  Glacier Bank provides commercial banking services in 143 communities through 224 banking offices. Glacier Bank was named #7 in United States of World’s Best Banks by Forbes (now 5 consecutive years (2020-2024).

Collegiate Peaks Bank continues to cultivate strong relationships within the communities we live and work by emphasizing personalized service combined with the full resources of a larger banking organization.

Glacier Bancorp, Inc. is headquartered in Kalispell, Montana with operating divisions including the Altabank (American Fork, UT), Bank of the San Juans (Durango, CO), Citizens Community Bank (Pocatello, ID), Collegiate Peaks Bank (Buena Vista, CO), First Bank of Montana (Lewistown, MT), First Bank of Wyoming (Powell, WY), First Community Bank Utah (Layton, UT), First Security Bank (Bozeman, MT), First Security Bank of Missoula (Missoula, MT), First State Bank (Wheatland, WY), Glacier Bank (Kalispell, MT), Heritage Bank of Nevada (Reno, NV), Mountain West Bank (Coeur d’Alene, ID), North Cascades Bank (Chelan, WA), The Foothills Bank (Yuma, AZ), Valley Bank of Helena (Helena, MT), and Western Security Bank (Billings, MT). Our bank serves individuals, small to medium-sized businesses, community organizations and public entities. We pursue a community banking philosophy, emphasizing personalized service combined with the full resources of a larger banking organization.

More information regarding Collegiate Peaks Bank is available at www.collegiatepeaksbank.com.