Municipal, Tribal + nonprofit housing consulting
Turn an unclear housing challenge into a funded, workable program.
Pikes Peak Capital provides affordable housing consulting to municipalities, Tribal organizations, and mission-driven nonprofits—helping clients define community housing needs, design viable programs, assemble capital stacks, and manage implementation.
Built on direct experience creating and managing housing programs
- 1,500+
- homes supported or planned
- 37
- states of experience
- $125M+
- housing transactions
What we do
One partner across the housing program lifecycle.
Housing initiatives require evidence, practical program rules, a viable capital stack, and disciplined execution. We help clients connect those pieces and maintain momentum from one phase to the next.
01
Housing research and feasibility
Needs assessments, surveys, stakeholder interviews, market analysis, affordability modeling, and clearly documented findings.
02
Program design
Program goals, eligibility, assistance structures, underwriting scenarios, policies, operating plans, and performance measures.
03
Capital stack strategy and execution
Grant strategy and applications, LIHTC, debt and equity arrangement, financial modeling, and coordination of the full capital stack from predevelopment through construction and permanent financing.
04
Program implementation and fund management
Fund management, grant administration, down payment assistance design, implementation and origination, procurement, partner coordination, reporting, project controls, and compliance.
How we work
Analysis that leads to a workable decision.
We start with the client’s actual constraints, test the options, and build an implementation path that can withstand public review, underwriting, and grant oversight.
- 01
Define the real need
Turn an initial problem into evidence about affected households, priorities, and decision criteria.
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- 02
Structure the program
Translate findings into policies, financing assumptions, roles, and measurable goals.
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- 03
Assemble the capital stack
Coordinate grants, LIHTC, public resources, debt, equity, and viable timing.
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- 04
Manage delivery
Keep partners, schedules, budgets, compliance, and reporting aligned through implementation.
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Selected experience
Representative engagements.
Housing work grounded in real client constraints.
Workforce homeownership with a constrained subsidy budget
The constraint
Although the municipality was generally affluent, a majority of its workforce lived outside municipal limits. The community wanted to encourage local homeownership but had limited funding for down payment assistance.
Our response
We conducted an employee housing survey, analyzed compensation and market data, interviewed lending partners, and produced a detailed needs report. We then designed a partnership-based program framework intended to extend limited public dollars while meeting the needs of employees, lenders, and the municipality.
Scaling a Tribal homeownership initiative
The constraint
A Tribal organization needed to secure and translate federal funding into an implementation structure capable of supporting a large, geographically dispersed population while also serving its members.
Our response
We supported the funding strategy, public action planning, and program design for a nationwide down payment assistance initiative expected to serve hundreds of low- and moderate-income families, alongside dedicated assistance for Tribal members. Our continuing role includes oversight, fund management, compliance, and reporting.
Restarting a stalled Tribal housing pipeline
The constraint
A TDHE had secured two development sites, but limited staff capacity and a lack of predevelopment capital had prevented the projects from moving forward for years.
Our response
We developed a two-part strategy: secure capital to expand the organization’s internal development capacity and fund the predevelopment work required to advance both sites. The framework coordinates staffing, environmental review, infrastructure, design, entitlements, project controls, and construction financing.
Affordable housing fund and mortgage management
The constraint
Scaling an affordable housing strategy across many jurisdictions required coordinated capital raising, asset management, mortgage operations, investor reporting, and disciplined exits.
Our response
Our team raised and managed multiple funds through their full life cycles, preserved more than 700 homes as affordable, completed over $100 million in transactions, and originated, held, and sold hundreds of affordable mortgages across 37 states.
Where we add value
Complex programs need more than a winning application.
Housing grants and capital programs create opportunity, but the work still has to be translated into procurement, project controls, compliant spending, defensible reporting, and financeable projects.
Our team brings program, finance, real estate, and operating experience to that transition. We stay close to the details while keeping the client’s larger housing objective in view.
Our team
Housing, finance, and operations experience in one team.
Managing Partner
Karen Gados
Karen leads public and Tribal housing engagements, combining affordable homeownership experience with program design, grant strategy, stakeholder coordination, and implementation planning.
Managing Partner
Christianna Sayler
Christianna brings decades of experience across real estate, finance, executive management, and complex capital structures for mission-driven projects.
Controller
Sabir Saleem
Sabir brings deep experience in residential real estate finance, mortgage portfolio operations, fund accounting, and financial reporting, with a focus on disciplined transaction execution and scalable operating systems.
Start a conversation
Working through a housing initiative?
Tell us what you are trying to move forward and where the work is getting stuck.