Media Contact: Chynna Cowart
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The Colorado Department of Local Affairs (DOLA), through the Division of Housing (DOH), has contracted with multiple community partners to bring more affordable housing options to Coloradans across the state.
As average rental rates are increasing and the number of available low-cost rental units are decreasing,the scale of the housing crisis for low-income households continues to grow. We know that access to decent, affordable housing provides stability for vulnerable families and helps prevent homelessness.
With a combination of federal COVID19 stimulus funds and state funds, Colorado is poised to make an unprecedented investment in its future housing affordability. Government investment can profoundly impact the housing situations of those with the greatest needs by funding the gap between the cost of buying and building housing and what the end user (buyer or renter) can afford to pay in a mortgage or rent, but government funding cannot solve the challenge of housing affordability alone. We will continue to align with other advocates of affordable housing to create these habitation opportunities for Coloradans.
Communities in Development
Archway Communities was founded with the belief that affordable housing is a crucial element in building healthy communities. Like DOLA, they believe in seeking out opportunities to purchase vacant land for new construction or renovate obsolete multifamily developments.
On North Wadsworth in Lakewood, Colorado, Archway Communities, in partnership with DOLA and other community players, purchased land and received tax credits to build cost-effective homes.
Designed for seniors aged 62+ of low to moderate income, Robinson Place will have 67 units and a variety of amenities, including a large community room with an entertainment kitchen, two roof decks, central laundry and bike storage. With its focus on health and fitness, community building, fine arts/culture, and more, Archway will provide a full range of on-site services.
In addition to high-frequency bus service with quick access to light rail, the location is walkable and boasts a neighborhood shopping center, convenience store, park, grocery store, Walmart, and pharmacy.
The Homeless Research Institute
The Homeless Research Institute projects that the number of homeless people above the age of 62 will increase by 33 percent between 2010 and 2020 (from 44,172 to 58,772 people), and will more than double between 2010 and 2050. It is imperative that we make affordable housing easily accessible to older populations who qualify because housing is one of the largest expenditures in the typical budget of an age 65+ household.
The Telluride Foundation, another community partner, is committed to enriching the quality of life of the residents, visitors and workforce of the Telluride region. The Foundation does this by developing and supporting initiatives that make direct investments and create meaningful change. Recently, they broke ground for their newest community investment - Pinion Park Norwood.
“There’s been a lot of hysteria around regional affordable housing, but there are actually solutions, and we can make progress,” Telluride Foundation President & CEO Paul Major previously told the Daily Planet.Over the past decade, housing needs in rural communities have only increased. The lack of large-scale development in rural areas means that construction costs are often higher in rural areas compared to urban areas, reducing the incentives for private investment. In many rural areas, credit is also hard to come by, making it difficult to sustain existing units.
To combat this, The Telluride Foundation is restructuring rural housing by integrating donated land, modular home design and manufacturing, and low-cost construction finance into a toolkit that makes it cheaper to build rural housing for the essential workforce in rural areas.