Colorado awards $18 million in grants to develop affordable housing

Margaret Jackson

https://img.particlenews.com/image.php?url=4KHwfH_0fbxRve800
(Brandon Griggs on Unsplash)

By Margaret Jackson / NewsBreak Denver

Fourteen Colorado communities will receive more than $18 million in grants to help build affordable housing.

The 14 Innovative Housing Opportunities Incentive grants will provide 1,872 housing units for about 4,867 people.

“We are working to save Coloradans money in every way possible, including making housing more affordable,” Gov. Jared Polis said. “Congratulations to our innovating communities finding new approaches to addressing this issue and finding ways to develop projects that save money.”

The Housing Opportunities grant program was created as part of HB21-1271 to promote innovative solutions for developing affordable housing across the state. It incentivizes municipalities and counties to remove land use and regulatory barriers in addition to funding affordable housing projects and programs that embody housing and land use best practices.

“The 1271 grant program was initiated as an incentive to encourage local governments to provide permanent regulatory relief and/or process changes to increase the affordable housing supply in their communities,” said Rick Garcia, executive director of the Colorado Department of Local Affairs, which awarded the grants. “The legislative intent is for communities to work at the intersection of housing while implementing best land-use practices. These awards facilitate the development of attainable housing, not only now but well into the future.”

Communities and projects receiving grants:

  • Frisco, $1.5 million for Granite Park workforce housing
  • Boulder, $2.3 million for a modular affordable housing factory
  • Fort Collins, $2.2 million for Kechter Townhome development
  • Denver, $1.4 million, Villa Park/West Denver accessory dwelling units
  • Greeley $990,000 for Hope Springs planned unit development
  • Crested Butte, $2.97 million for Sixth and Butte and Paradise Park workforce housing
  • Steamboat Springs, $1 million for Steamboat Springs Barn Village essential employee housing
  • Summit County, $2 million for the Summit County Justice Center workforce housing project
  • Silverton, $371,020 for Zanoni Property Acquisition and Anvil Mountain subdivision annexation
  • Gunnison, $1.8 million for Gunnison Rising townhome infrastructure
  • Mancos, $531,700 for Mancos Conservation District multifamily housing
  • Winter Park, $200,000 for Hideaway Junction Phase II vertical construction
  • Ridgway, $750,000 for Ridgway Yellow Brick Lane
  • Colorado Springs, $250,000 for affordable multifamily rental development fee rebate program

Comments / 3

Published by

I'm a Denver-based business writer with expertise in commercial and residential real estate as well as general business news.

Denver, CO
1556 followers

More from Margaret Jackson

Comments / 0