Colorado awards $10.85 million in creative tax credits for arts and housing projects

Colorado awarded nearly $10.85 million in tax credits to 12 projects that will create or renovate arts, housing and community spaces across the state.

The Community Revitalization Tax Credit recipients are in Boulder, Creede, Denver, Grand Junction, Pueblo, Silverton, Telluride, Trinidad and Walsenburg. The projects are expected to create 104 affordable housing units, along with performance, exhibition, education and gathering spaces.

The program allows eligible projects to receive credits of up to $3 million, covering up to 25% of eligible expenses.

“The CRTC program fuels more jobs, attainable housing and community amenities across Colorado,” Colorado Creative Industries Director Josh Blanchard said.

Recipients include:

• Boulder Museum of Contemporary Art, Boulder: $1.5 million to build a museum with exhibition, education, event, retail and office spaces.
• Colorado Chautauqua Association, Boulder: $850,000 to convert its auditorium into a year-round venue and add as many as 200 programming days annually.
• Colorado Public Radio, Denver: $1.5 million for a downtown headquarters with space for public forums, podcast recordings, interviews, performances and community organizations.
• Creede Center for the Arts, Creede: $795,000 to convert a former high school building into an arts center with classrooms, exhibition space, a research center and an artist residence.
• Downtown Revival Partners, Pueblo: $1.5 million to redevelop the Colorado Building with a theater, rehearsal and retail spaces, studios and 96 housing units.
• GJ Union Depot, Grand Junction: $624,000 to restore the historic depot with Amtrak facilities, a restaurant, retail marketplace and community programming space.
• Honey Rock LLC, Silverton: $945,000 to convert the Old Livery into a mixed-use property with six housing units, three hotel rooms, retail, a cafe and event space.
• Keely Williams Properties 2020, Trinidad: $448,000 to restore the Jaffa Opera House, which has been vacant for 15 years.
• Museum of Friends, Walsenburg: $351,534 for a community room, artist live-work residence and business incubator.
• Rainbow Dome, Denver: $686,000 to create an alcohol-free LGBTQ+ community venue with a roller rink, stage and space for performances and art installations.
• Su Teatro, Denver: $150,000 for system and accessibility improvements at its cultural and performing arts center.
• Telluride Film Festival, Telluride: $1.5 million to restore the Nugget theater, add two workforce housing units and create an education pavilion.

The tax credit program was created through a 2024 state law. Its predecessor, the Community Revitalization Grant program, awarded about $98 million to 59 projects supporting more than 598 housing units.