Colorado approves more than $23 Million in housing investments, including down payment assistance

COLORADO – The Colorado Department of Local Affairs (DOLA) announced on December 31 the approval of more than $23 million in State Housing Board funding for over 400 housing opportunities across Colorado.

The 20 investments boost housing access statewide through down payment assistance, homeownership and rentals.

“By investing in a variety of housing options, we are not only addressing immediate housing and supportive needs, but we are also laying the groundwork to create an accessible and dynamic housing supply as Colorado continues to grow and thrive,” said DOLA deputy executive director Maulid (Mo) Miskell.

Down payment assistance and homeownership funding

The State Housing Board approved Proposition 123 AHOP funding to support new for-sale homes and homeownership programs. 

These investments will deliver 36 new homes and provide down payment assistance to over 90 households, helping working families build housing stability while strengthening communities statewide.

• The Foundry Phase 1: $2 million for 36 workforce condominiums in Commerce City.
  
  
• Impact Development Fund (Statewide): $1.6 million for down payment assistance in Proposition 123 communities.
  
  
• Southeast Colorado Enterprise Development, Inc. (Baca, Bent, Crowley, Otero, Kiowa, and Prowers Counties): $385,000 for down payment assistance for seven households across six counties.
  
  
• Rocky Mountain Community Land Trust (El Paso County): $650,000 for down payment assistance for 11 households in Colorado Springs and Manitou Springs.
  
  
• Elevation Community Land Trust (Statewide): $825,000 for down payment assistance for 30 households.
  
  
• Chaffee Housing Trust (Chaffee and Lake Counties): $1 million for down payment assistance for 18 households.
  
  
• City and County of Denver: $1 million for down payment assistance for 33 first-generation homebuyers.
  
  
• Community Economic Defense Project (Morgan, Logan, Archuleta, Dolores, La Plata, Montezuma, and San Juan Counties): $690,000 for down payment assistance for first-time and first-generation homebuyers in underserved rural communities.

344 new rental homes

The State Housing Board also approved funding for nine affordable rental communities across Garfield, Alamosa, Routt, Adams, and other counties, which will deliver 344 new rental homes and preserve 50 existing units.

In addition, the board also approved funding for the Single Family Owner-Occupied (SFOO) Rehabilitation Program that will improve living conditions for more than 70 Coloradans.

For more information about the programs, visit DOLA’s State Housing Board webpage.