(COLORADO) — New affordable housing options are coming to several cities across Colorado, including Colorado Springs, and funding was secured by the voter-approved Proposition 123 Land Banking funds.
On Wednesday, May 7, Governor Jared Polis, the Colorado Office of Economic Development and International Trade (OEDIT), and the Colorado Housing and Finance Authority (CHFA), announced 21 recipients of the state funding, which will go toward securing land for several communities across the state to address local housing needs.
“These funds are an important first step to create 1,892 homes people can afford across the state, helping more Coloradans live where they want to live — close to their jobs, schools, and the places they love,” said Gov. Polis.
Among the recipients is the proposed Bradley Ridge Apartments in Colorado Springs. The 336 planned rental units, east of Security-Widefield, will include an early childhood education center and serve households earning at or below 60% of the Area Median Income (AMI).
“A strong economy includes good-paying jobs and housing for every income level,” said Eve Lieberman, OEDIT Executive Director. “The recipients announced [Wednesday] will introduce new home ownership and rental opportunities in communities across the state, meeting a wide variety of needs, including those transitioning out of homelessness, neurodiverse families, and childcare opportunities.” We are excited to support strong economies across the state,” said Eve Lieberman, OEDIT Executive Director.”
According to the governor’s office, a total of $47,994,762 will be awarded to the following recipients:
- Boulder Housing Coalition: 19 rental units for the 1350 N Logan, Denver, $430,000
- Broomfield Housing Alliance: 72 rental units for the 11795 Colmans Way, Broomfield, $3,500,000
- Commerce City Housing Authority: 120 rental and homeownership units for The Foundry, Commerce City, $4,750,000
- Commun Denver: 173 rental and homeownership units for the Loretto Commons, Denver, $2,500,000
- Community Options Inc.: 50 rental units for the TBD Hilltop Apartments, Montrose, $1,250,000
- Elevation Community Land Trust II: 44 homeownership units for the Miners Haus, Golden, $1,400,000
- Fairview Housing Partners Ltd: 144 rental units for the Flats at Sand Creek, Colorado Springs, $4,050,000
- Foothills Regional Housing: 220 rental units for the Ridge Road, Wheat Ridge, $2,100,000
- GES Coalition, Inc.: 60 rental and homeownership units for the Brighton Blvd-GESC, Denver, $3,571,429
- Habitat for Humanity Fort Collins: eight homeownership units for the Bloom Cottages, Fort Collins, $600,000
- Habitat for Humanity of Metro Denver, Inc.: 40 homeownership units for the Calvary Flats Affordable Homes, Golden, $1,200,000
- Habitat for Humanity St Vrain: 35 homeownership units for the Habitat 15th and Terry Street Neighborhood, Longmont, $1,558,333
- Metro Caring: 139 rental units for the Metro Caring Affordable Housing, Denver, $3,485,000
- Pagosa Springs Community Development Corporation: 11 rental and homeownership units for the Affordable Housing Phase 4, Bonita Dr., Pagosa Springs, $200,000
- Pikes Peak Real Estate Foundation: 336 rental units for the Bradley Ridge Apartments, Colorado Springs, $4,850,000
- The City of Fruita: 100 rental and homeownership units for The Fruita Commons, Fruita, $1,500,000
- The Inn Between of Longmont: 40 rental units for the 1886 Hover, Longmont, $1,750,000
- The NHP Foundation: 158 rental units for the Liora, Denver, $3,850,000
- Thistle Community Housing: 48 rental and homeownership units for the Fairways Phase II, Boulder, $2,600,000
- Urban Land Conservancy II: 66 rental units for the Liberty House, Denver, $2,450,000
- West Colfax Lampstand: 9 homeownership units for the Flats at Harlan, Lakewood, $400,000
For more information on Proposition 123 or the Land Banking program, click on the link above.