Colorado’s Governor Jared Polis, the Colorado Office of Economic Development and International Trade, and the Colorado Housing and Finance Authority have announced eleven Proposition 123 Equity funds recipients. These funds will support the development of approximately 1,017 affordable rental housing units for low- and middle-income residents in communities across Colorado, including Denver, Buena Vista, Monte Vista, and Trinidad.
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Statewide Housing Boost
The Proposition 123 Equity program has allocated $67.5 million in preliminary funding to eleven affordable housing projects throughout Colorado. These investments will create over 1,000 rental units serving residents with incomes ranging from 30% to 120% of the Area Median Income (AMI). Locations benefiting include Idaho Springs, Trinidad, Fraser, Denver, and more.
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Innovative Construction Methods
Five of the projects will incorporate modular and off-site construction techniques. Colorado manufacturers such as Vederra Modular, Aboda, and Fading West, supported by the Innovative Housing Incentive Program and Proposition 123’s Modular and Factory-built Finance program, are leading this effort to grow the local housing construction industry…