The State Housing Board Has Awarded Over $18 Million for Affordable Housing Development and Down Payment Assistance

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Media Contact: Chynna Cowart | 303-656-7464

The Department of Local Affairs (DOLA), through the Division of Housing's State Housing Board, voted on, approved, and awarded $15,174,773 for 384 additional affordable housing units and $3,466,611 in down payment assistance across the state.

In order to fulfill the needs of a population that continues to evolve, the State of Colorado aims to provide a continuum of housing options for households with diverse needs and Area Median Incomes (AMI), as well as for those looking for housing in conjunction with social services.

Affordable Housing in Development

1. Zinnia ($4.125M - Adding 55 units)

Element Properties was awarded $4,125,000 ($75,000/unit) for the new construction of Zinnia, a proposed Permanent Supportive Housing (PSH) project seeking to address the needs of Longmont residents who are experiencing homelessness. All 55 one-bedroom units will be restricted at 30% of the Area Median Income (AMI) with the addition of state-funded Project-Based Vouchers.

Zinnia’s 39,430 square foot, four-story building and associated amenities will be grounded in trauma-informed design (TID). There is no obvious impediment to the site’s use for PSH and no neighborhood opposition has been identified. Building features will include on-site management, community Wi-Fi, limited access entries with intercoms, security cameras, indoor/outdoor community space, and on-site laundry. Full time security/desk personnel, and flexible and responsive programs and services, will be available to residents. Each residence will be fully furnished and will include a full kitchen.

Architectural Rendering of Zinnia

2. Crossing Pointe South ($1.599M+ - Adding 142 housing units)

This project will include 142 affordable rental units for low income individuals and families in Thornton. The 142 affordable rental units will have affordability ranging from 30% to 70% of the Area Median Income (AMI). 17 units will be available to families earning 40% AMI and 17 units will be available at 30% AMI. 

Maiker will be family friendly with 53.5% of the units at two-bedroom and 10.6% at three-bedroom.

Architectural Rendering of Crossing Pointe South

3. The Launchpad ($4.75M - Adding 50 units)

The PLACE has been awarded $4,750,000 to assist with new construction of The Launchpad located at 810 N. 19th Street on Colorado Springs' Westside. There will be 50 units of permanent supportive housing for unhoused youth (under age 25) in Colorado Springs. 47 units will be 1 bed/ 1 bath and 3 units will be 2 bed/1 bath. All units will serve 30% AMI households with 50 project-based Vouchers and Tenancy Support Services (TSS) funding.

The 4-story, elevator-served building will be situated slab-on-grade flush with the setback on 19th Street. The site plan layout conforms to new urbanist tenets, and the back-side of the site is parking to the south and landscaping/outdoor amenities to the north. The far north end of the site is a large hill which will be left undisturbed.

The first floor includes case management offices and a leasing office, in addition to common amenity spaces for residents. All spaces support residents directly. The site has been designed to optimize outdoor and active lifestyle options, and also facilitate walkability to the grocery store across 19th Street.

Architectural Rendering of the LaunchPad

4. Elevate at Aurora ($4.7M - Adding 137 units)

Columbia Ventures was awarded $4,700,000 for the construction of Elevate at Aurora, 137 units of affordable rental housing and a Community Service Facility located at 1671 Altura Blvd in Aurora. The Project will include 6 studio units, 62 one-bedroom units, 52 two-bedroom units, and 17 three-bedroom units from 30-70% AMI, with average affordability of 57.45%. The site is a 4.7-acre parcel currently owned by Living Hope Community Church.

A 15,250 square foot Community Service Facility will primarily serve as the Aurora location for a metro-area non-profit organization, CrossPurpose, a provider of workforce development services. The Community Service Facility will be open for residents and non-residents of Elevate at Aurora.

Architectural Rendering of Elevate at Aurora

Down Payment Assistance Awards

1. Homesfund Mortgage Assistance in Southwest Colorado ($1.88M+ - Down payment assistance)

Homesfund was awarded $1,881,400 for a 3-year contract to continue providing mortgage assistance loans to households at or below 80% AMI. The Mortgage Assistance Program supports Colorado affordable housing by funding subordinated mortgage loans to low- and moderate-income households, thereby lowering the amount needed to be borrowed by homeowners through primary loans. There is a large and increasing gap between low workforce wages and high home prices in Southwest Colorado, and the Mortgage Assistance Program helps to overcome that gap. 

2. Com Act Housing Corporation Western Slope Homeownership Program ($1.56M+ - Down payment assistance)

Com Act Housing Corporation was awarded $1,560,930 for a 2-year contract to start providing Down Payment Assistance loans to households at or below 120% AMI. 

The Western Slope Down Payment Assistance program is a comprehensive effort to empower modest-income families who are locked out of homeownership because of affordability, down payment, and credit challenges. The DPA loans are combined with individual pre-purchase counseling, group homebuyer education, and lending technical assistance. 

3. Douglas County Housing Partnership ($24,681K - Down payment assistance)

The Douglas County Housing Partnership (DCHP) was awarded funding for administrative costs to operate its current Home Ownership Program. Through this program DCHP provides low-income households the opportunity to purchase their first home in Douglas County.

View complete information on Housing Board grant approvals.

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