December 1, 2023
A year after Colorado voters approved Proposition 123, demand for its affordable housing funds outweighs supply
More than 200 local governments have pledged to increase their affordable housing stock in the coming years. Now developers are applying for funds to build those units.
Colorado Sun: Tatiana Flowers
Earlier this month, the first deadline came and went for cities, counties and Native American reservation leaders to apply for the first round of affordable housing funds through Proposition 123, the Colorado ballot measure voters approved last year that requires participating local governments to pledge to build 3% more affordable housing every year for the next three years.
In late July, Colorado affordable housing advocates worried about the low opt-in rate, when only 14 of the 336 eligible local governments had joined the new affordable housing program.