Media Contact: Natriece Bryant, Deputy Executive Director | 303-241-8364
The Colorado Department of Local Affairs (DOLA) Division of Housing (DOH) received an additional $2.6M in CARES Act funds to allocate for COVID-19-related housing relief, and awarded $8M through the Colorado State Housing Board (SHB) for affordable housing in October.
Governor Jared Polis in September appointed DOLA to convene a special task force of community leaders to create recommendations on evictions in Colorado. The group supplied their findings to the Governor, which was followed by Executive Orders including a new allocation of $2.6M in additional federal Coronavirus Relief Funds for the Property Owner Preservation (POP) program to extend its provision of rental relief.
For October’s SHB meeting, DOLA approved a total of $2.6M in loans to TransEquity Development, Inc. and City of Lamar, Colorado for the rehabilitation of the Plainsview Apartments, a two-building property consisting of 45 two-and three-bedroom apartments with close proximity to schools, government services and ample green space for recreation. Plainsview will be open to families with incomes between 30 and 60 percent of the Area Median Income (AMI.)
DOH granted $3M to DBG Properties, LLC. for construction of 201 one,-two-and three-bedroom apartments for a development in Colorado Springs called Academy Heights. A new Amazon facility planned for the area will add around 1,000 jobs to the area. Academy Heights will be available to families with incomes between 30 and 70 percent of the AMI.
The Division awarded $1.44M Brothers Redevelopment, Inc. for construction of a 72-unit development of permanent supportive housing in Denver. The project will serve extremely low-income individuals and families, especially those experiencing homelessness who have a disabling condition preventing a barrier to housing stability. Resident referrals will originate from the Regional Coordinated Entry System and the Brain Injury Alliance of Colorado (BIAC), who will also provide on-site services in the ground floor of the building.
The Department granted to the Town of Breckenridge a loan of $960K to assist with a mixed income development called the Alta Verde Apartments. The project will consists of eighty one-, two-, and three-bedroom apartments reserved dedicated to households with incomes between 30 and 100 percent of the AMI.
“Housing insecurity has become one of the most concerning byproducts of the COVID-19 pandemic,” said DOLA Executive Director Rick M. Garcia. “Under the leadership of Governor Polis, we are able to provide some of the most expansive rental assistance in the country.”
The State Housing Board and DOLA’s Division of Housing continue to support the creation of affordable housing that is accessible, safe and secure for all Coloradoans. For complete information on Housing Board grant approvals, visit cdola.colorado.gov/state-housing-board.