Colorado Invests in Affordable Housing for 13 Counties

In a monumental step for affordable living, Colorado's Governor Jared Polis and the Department of Local Affairs (DOLA) have unveiled the third wave of Transformational Affordable Housing Grants (TAHG). Managed by DOLA’s specialized Division of Housing (DOH), this grant cycle is set to channel more than $48 million into 13 counties across Colorado. The move marks another milestone in the state’s ongoing crusade to tackle housing affordability head-on.

This chunk of financial support got the nod from the State Housing Board, an assembly of housing aficionados handpicked by the Governor and rubber-stamped by the Colorado Senate. The funds for these grants come from the federal American Rescue Plan Act (ARPA), with a laser focus on counteracting the toll that COVID-19 has taken on the housing sector. Thanks to this financial injection, an astounding 1,353 affordable homes are expected to either spring up or get a new lease on life all over the state.

Governor Polis couldn't be more stoked about the initiative's promise. “This round of grants amplifies our enduring commitment to speed up the home-building game in Colorado," he exclaimed. "We’re absolutely pumped that this critical backing will contribute to creating or preserving 1,353 housing units that people can actually afford. We've come a long way, but there's still more ground to cover. I’m hopeful that these grants will take us another leap forward in eliminating hurdles to affordable living, making Colorado a more budget-friendly place to call home.”

This latest announcement reaffirms Colorado’s unwavering resolve to remedy the affordability crisis in housing, a challenge that has only escalated amid the pandemic. By pouring these funds into housing, Colorado isn't just aiming for quick fixes but is also laying down solid foundations for an equitable, accessible, and affordable housing future.