Colorado State Housing Board approves $23M for housing

DENVER — The Colorado Department of Local Affairs, through its Division of Housing, has approved more than $23 million in State Housing Board funding to support more than 400 housing opportunities across Colorado.

The 20 awards will expand access through new rental developments, homeownership opportunities and down payment assistance programs, advancing the state’s goal of increasing housing supply.

“This $23 million investment will build almost 400 new homes for hardworking Coloradans and help ensure workers can live in the communities we love,” Gov. Jared Polis said. “In Colorado, we remain focused on building more housing, breaking down barriers to new homes, lowering costs and saving families money, and this investment does exactly that.”

“These awards affirm our mission to strengthen Colorado communities by prioritizing access to safe and affordable housing for every Coloradan,” said Maulid “Mo” Miskell, deputy executive director of the Department of Local Affairs. “By investing in a variety of housing options, we are addressing immediate needs while laying the groundwork for a more accessible housing supply as Colorado continues to grow.”

Rental housing

The State Housing Board approved funding for nine affordable rental communities across multiple regions, including Garfield, Alamosa, Routt and Adams counties.

Projects include Poplar Commons in Hayden, with $1.6 million for 8 workforce units; The Flour Mill Apartments in Salida, with $1.1 million for 20 units near downtown; and Canyon Vista in Glenwood Springs, with $3.5 million for 80 apartments. Other awards support developments in Fort Collins, Alamosa, Wheat Ridge, Westminster, Aurora and Denver.

Together, the projects will deliver 344 new rental homes and preserve 50 units.

Homeownership

The board also approved funding through the Proposition 123 Affordable Home Ownership Program for new for-sale homes and down payment assistance.

Awards include $2 million for The Foundry Phase 1 in Commerce City to build 36 condominiums and multiple grants for statewide and regional down payment assistance programs. Those investments will deliver 36 new homes and provide assistance to more than 90 households, including first-time and first-generation buyers.

Owner-occupied rehabilitation

Funding was also approved for the Single Family Owner-Occupied Rehabilitation Program to help homeowners address health and safety issues, improve accessibility and boost energy efficiency.

Awards include $1.4 million to Com Act Housing Corporation for low-interest loans to up to 56 households and additional funding to preserve housing across central and southern Colorado.

More information on recent and past awards is available on the Department of Local Affairs State Housing Board webpage.