The Department of Local Affairs has granted over $17 million to support statewide affordable housing development

The Department of Local Affairs has granted over $17 million

affordable housing (Getty)

 That's great news! The allocation of more than $17 million by the Department of Local Affairs to support the development of affordable housing statewide is a significant step towards addressing the housing needs of communities. Access to affordable housing is a critical issue in many regions, and this funding can make a substantial impact in improving the situation.

With this financial support, various initiatives and programs can be implemented to promote affordable housing development. The funds can be used to construct new affordable housing units, rehabilitate existing housing, provide rental assistance, and support other initiatives aimed at increasing affordable housing stock.

Affordable housing plays a crucial role in ensuring that individuals and families have access to safe and affordable homes. It not only addresses the immediate housing needs of low-income individuals but also contributes to the overall stability and well-being of communities. People can allocate more of their income towards other essential needs such as education, healthcare, and savings when they have access to affordable housing.

It's encouraging to see government agencies like the Department of Local Affairs recognize the importance of affordable housing and provide substantial funding to support its development. This investment can go a long way in improving the quality of life for many individuals and families across the state.

Affordable Housing in Development

1. Oh Pagosa ($400K - Adding 8 housing units)

Oh, Pagosa is a proposed affordable housing project located in downtown Pagosa Springs, Colorado. The project aims to construct a two-story building with a total of eight housing units. Among these units, there will be two two-bedroom units and six one-bedroom units.

Situated in a residential area, Oh Pagosa will be adjacent to another affordable housing 4-plex and surrounded by single-family homes. The project enjoys a prime location in the heart of downtown Pagosa. Just two blocks to the south, residents will have access to a park with amenities such as an ice rink, a child daycare, pickleball and tennis courts, and other recreational advantages.

Two blocks to the north lies the vibrant downtown area, featuring a library, Natural Grocers, a bank, coffee shops, and other employers and commercial activities. The residents of Oh Pagosa will have convenient access to public transportation and can benefit from a nearby bike and walking trail.

The proposed project's location offers a mix of residential tranquility and easy access to various amenities and services. It aims to provide affordable housing options while fostering a sense of community and offering residents opportunities for recreation, employment, and local engagement.

2. Residences at Durango ($5.5M - Adding 120 units)

TWG Development has received $5.5 million in gap funding for the Residences at Durango project. The project involves converting a former Best Western Motel located at 21382 US Highway 160 in Durango, Colorado, into apartments. The renovation will include the construction of 48 new apartments on the property behind the motel, in addition to the existing 72 hotel rooms.

The renovation will encompass various improvements, such as new flooring, paint, doors, blinds, and a new roof. Energy-efficient appliances, plumbing features, and lighting will be installed. The 72 hotel units will be equipped with new kitchens, including sinks, garbage disposals, ovens, dishwashers, microwaves, cabinetry, and countertops. The 48 new construction units will be designated for households with incomes between 30% and 60% of the area median income (AMI).

3. 7001 Colorado Blvd ($3M - Adding 92 housing units)

Prospect LLC has received a $3 million award for the construction of 7001 Colorado Blvd, a project that will add 92 affordable rental housing units for families in Adams County. The project is situated at 7001 Colorado Blvd, Commerce City, Colorado 80022.

The housing units will consist of a mix of sizes, including 8 one-bedroom units, 26 two-bedroom units, 34 three-bedroom units, and 24 four-bedroom units. All of these units will be designated for households with income levels set at either 30% or 60% of the Area Median Income (AMI). On average, the affordability of the units will be approximately 58.37%.

By providing affordable rental housing options, the 7001 Colorado Blvd project aims to address the housing needs of families in Adams County and promote greater access to safe and affordable homes.

4. Rally Homes ($3.5M - Adding 100 housing units)

Boulder Housing Partners (BHP), the Housing Authority of the City of Boulder, has received $4.5 million to construct Rally Homes, an affordable housing development in Boulder. The funding comes from a combination of a 4% tax credit allocation and State Low-Income Housing Tax Credits (LIHTC).

Rally Homes will consist of 100 housing units, including 24 studio units, 62 one-bedroom units, and 14 two-bedroom units. The project aims to provide affordable housing options for individuals and families in need. The units will be allocated based on different income levels, with 10 units serving households at 30% of the Area Median Income (AMI), 5 units at 40% AMI, 22 units at 50% AMI, and 63 units at 60% AMI.

The Housing Authority plans to utilize Project-Based Vouchers for the 10 units serving households at 30% AMI. This approach aims to support individuals and families experiencing homelessness or at risk of homelessness by providing them with stable and affordable housing.

Rally Homes represent a significant effort to address the affordable housing needs in Boulder, offering a range of unit sizes and income level options. By providing these housing units, the project contributes to creating a more inclusive and accessible community for individuals and families in Boulder.

5. Fruita Mews ($5.368M+ - Adding 50 housing units)

IndiBuild LLC has been awarded $5,368,700 to support the construction of Fruita Mews, a new development in Fruita consisting of 50 housing units.

Fruita Mews will be comprised of 10 residential buildings, with each building housing a combination of single-story and two-story townhome units. The buildings will feature front porches and face either green spaces or streets. The exterior architecture will vary in color and roof forms, providing visual distinction between the townhomes.

In addition to the housing units, the community will offer several amenities. A common house with a full kitchen, covered back porch, and BBQ area will be available for residents to utilize. There will also be a nature play area or amphitheater, a play structure, and community gardens. For residents who use bicycles, individual secure bike storage and community bike maintenance amenities will be provided.

The Fruita Mews project demonstrates a commitment to creating a vibrant and inclusive community by offering well-designed housing units along with shared spaces and amenities. This development aims to enhance the quality of life for its residents and contribute positively to the Fruita area.