The Colorado Department of Local Affairs (DOLA), through its Division of Housing, has announced that the State Housing Board approved more than $46.5 million in funding to support 716 new housing opportunities across Colorado. The investments will be used for rental developments, homeownership projects, and down payment assistance programs.
Governor Jared Polis commented on the announcement: “We are breaking down barriers to housing that Coloradans can afford and are thrilled to see more homes being built every year. This funding will create new homes for more than 700 hardworking Colorado families and is an important step forward to making our communities more affordable and saving Coloradans money on housing.”
Maria De Cambra, Executive Director of DOLA, stated: “Every family in Colorado deserves a place they can afford to call home. These awards are a testament to our continued commitment to creating housing options that meet the diverse needs of Coloradans. Through strategic investments and collaborative partnerships, DOLA is dedicated to fostering resilient communities where every individual has access to safe, stable, and affordable housing.”
Seven affordable rental communities received approval for funding in Summit, Chaffee, El Paso, Adams, Weld, Arapahoe, and Denver counties. Notable projects include 52 apartments in Frisco for local workers and families; 33 rental homes in Buena Vista; 68 apartments near employment centers in Colorado Springs; 50 units near schools in Denver; senior apartments in Brighton; family apartments close to amenities in Erie; and affordable rentals with community spaces in Aurora.
The board also approved $3.6 million for supportive housing at Park Avenue Apartments in Denver County aimed at people exiting homelessness or needing ongoing assistance.
For homeownership initiatives, two new projects were funded: seven homes for local workers in Eagle County and eight duplexes for first-time buyers in Aurora.
Additionally, eight statewide contracts were awarded under various programs supporting land trusts and organizations such as Habitat for Humanity affiliates across rural and urban areas. These efforts aim to deliver an estimated 275 additional homes throughout the state.
More information about these awards is available on DOLA’s State Housing Board webpage.
