Grand Opening Celebration Takes Place for Colorado’s First Green House Homes – A Story of Partnership and Vision

By / Posted on October 25th, 2014

The beautiful Rocky Mountains provide a wonderful view for Elders that will live in The Green House Homes at Mirasol in Loveland, Colorado.  That view will only be matched by the person-directed living they will experience in this innovative model of skilled nursing care.  Built on the campus of the Mirasol Senior Living Community, there will be six homes with each including: ten private bedrooms and bath, open kitchen, a hearth area along with a variety of other open spaces that will embrace socializing and the ability to live life in a meaningful way.

Sam Betters, Executive Director of the Loveland Housing Authority, said,

From my own personal experience of trying to provide the best care for my parents, I discovered that aging in America presents many challenges.  I knew that there had to be a better option than the traditional institutional models for elder care.  There is.  It’s called The Green House Project.  As we began our vision-quest, we didn’t know how we were going to make this happen.  We just knew it had to be done.

Senior Director for The Green House Project, David Farrell, was on hand for the festivities on October 21st along with a number of other state and local leaders in Colorado.

David said, “These homes will help the Loveland Housing Authority meet a gap in its continuum of care-skilled nursing and allow Mirasol residents to remain a part of their existing community, deriving the benefits of receiving a higher level of care while still living independent and social lives.”

The Green House Project is part of Capital Impact Partners, a certified community development financial institution, which led the financing for this $17 million dollar project.

As a mission driven lender, this project fits well into our larger strategy to build strong, vibrant communities of opportunity for underserved populations. We are not only proud to help bring the Green House model to Colorado, but also the fact that a large percentage of the residents are Medicaid eligible,

said Terry Simonette, CEO of Capital Impact Partners. “It took a number of partners, and use of innovative tools like New Market Tax Credits to make this happen.”

Funding for the project included:  $2 million dollar grant from The Harry and Jeanette Weinberg Foundation, program related investments from the AARP Foundation and the Robert Wood Johnson Foundation, $2.5 million New Market Tax Credits, $3.4 million in tax credit equity from JPMorgan Chase plus a land donation by the Loveland Housing Authority.

We congratulate all who helped in the process of making these homes possible…and welcome everyone to the Green House family!

Click here to read more about this project and why leaders from The Harry and Jeanette Weinberg Foundation and the AARP Foundation were most pleased to make this development a reality!