Funding for Affordable Housing Allocated to Thirteen Colorado Counties

In an effort to boost the availability of affordable housing in Colorado, Governor Jared Polis, alongside the Department of Local Affairs, made a significant announcement today. They unveiled the third installment of recipients set to benefit from the Transformational Affordable Housing Grant (TAHG), a crucial initiative providing much-needed support to 13 Colorado counties. The grant is effectively managed and regulated by the Division of Housing (DOH), a department within the Colorado Department of Local Affairs (DOLA).

The TAHG grants have been diligently assessed and subsequently recommended for funding by the State Housing Board. This body consists of individuals hand-selected by the Governor and confirmed by the Colorado Senate, ensuring an effective, efficient, and dedicated team is overseeing the process. The funds for these grants have been secured through the federal American Rescue Plan Act (ARPA), devised as a tool to help offset the detrimental impacts of the COVID-19 pandemic on housing. Through this significant financial injection, an estimated total of 1,353 affordable housing units are set to be either newly provided or preserved across the state.

1. Tierra Azul ($4.2M – Adding 406 units): This project in Alamosa was awarded $4.2 million for infrastructural development. Once complete, this six-phase, master-planned community will bring about 406 new affordable homes to the area, providing a variety of housing options that cater to different income levels and demographics – families, renters, homeowners, and seniors. The community will comprise for-sale and rental units, including single-family homes, townhouses, and 8-plex mid-density, and 30-plex medium-high density multi-family units, designed with pre-fabricated/modular considerations.
2. Mountain View Duplexes ($750K – Adding 20 units): Habitat for Humanity of Metro Denver was awarded $750,000 to construct a community of 20 affordable homes in Aurora. The energy-efficient homes will be available for purchase by eligible low-income buyers, who will own the homes outright but lease the land for a moderate fee. The community will consist of ten duplex buildings, including fully accessible single-story units, two-story 3-bedroom units, and two-story 4-bedroom units, each with dedicated parking and private yards.
3. Discovery TAHG ($700K – Adding 12 units): Flatirons Habitat for Humanity received $700,000 for infrastructural developments in Broomfield, CO. This will enable the construction of twelve units in four triplex buildings. Nine of these will be traditional Habitat homeownership units, while the remaining three will be operated as rental units by the Broomfield Housing Authority.
4. Flo Senior ($6M – Adding 212 units): The Denver Housing Authority was granted $6 million to develop a 212-unit community for seniors and people with disabilities in Denver’s Sun Valley neighborhood. The units are a mix of one-bedroom and two-bedroom homes, with varying income restrictions to ensure affordability. The Housing Authority of Denver will provide Housing Choice Vouchers for 106 units for residents earning between 30% and 50% of the Area Median Income (AMI).
5. Theodora Family Hotel ($7M – Adding 60 units): Volunteers of America Colorado will use their $7 million grant to transform the Theodora Family Hotel into a 60-room shelter serving families with minor children and veterans experiencing homelessness in Denver, Colorado.
6. Unity on Park Street ($4M – Adding 40 units): The Douglas County Housing Partnership was awarded $4 million to convert a La Quinta Inn into affordable housing for low-income households. The building will be transformed into 40 apartment homes, including two employee units, catering to individuals with Intellectual or Developmental Disabilities.
7. CMC/ECHDA Attainable Housing ($2M – Adding 36 units): Colorado Mountain College will utilize a $2 million grant to provide crucial infrastructure for employers struggling to recruit and retain workers in Eagle County. All units will be restricted to residents earning at or below 100% AMI.
8. Haymeadow ($2M – Adding 43 units): The Eagle County Housing and Development Authority will use a $10 million grant to assist in funding the purchase and resale of 43 new condominium units in the Haymeadow area of Eagle, Colorado.
9. Helen Hunt Campus ($4.41M – Adding 24 units): Catholic Charities of Central Colorado has been awarded $4.41 million to rehabilitate their Helen Hunt Campus, converting it from commercial space to 24 multi-sized family apartments in an effort to increase transitional housing in the Pikes Peak region.
10. Cinnamon Heights ($2M – Adding 30 units): The Town of Bayfield received a TAHG grant of $2.65 million for infrastructural developments on 30 platted townhome lots in the Cinnamon Heights subdivision.
11. Matthews House ($3.75M – Adding 20 shelter beds): The Thompson School District received $3.75 million for Matthew’s House, a facility offering twenty overnight shelter beds and a drop-in center for at-risk or homeless youth and young adults.
12. 8th Street ($2.75M – Adding 20 units): The Craig Housing Authority was granted $2.75 million to help in the development of 20 new modular townhomes in Craig.
13. Mid Valley ($4M – Adding 234 units): The Yampa Valley Housing Authority and Lone Tree Trust were granted $4 million in TAHG funds to assist with the development of 234 workforce housing units in Steamboat Springs.
14. Village Court Apartments ($2.225M – Adding 21 units): The Mountain Village Housing Authority received $2.225 million for infrastructure and construction costs to expand Village Court Apartments.
15. Hope Springs ($3M – Adding 175 units): Greeley-Weld Habitat for Humanity received $3 million for infrastructure development for Hope Springs, which will ultimately serve 175 homes to be sold to families at 30%-80% AMI.