Colorado Politics highlights plans to invest $5.5 million to help affordable housing in the Denver metro area.
“Denver officials on Thursday announced plans to invest $5.5 million in a land trust that would help create 79 long-term affordable homes citywide and purchase land for future affordable housing in the Globeville and Elyria-Swansea neighborhoods.
City officials have negotiated contracts – subject to approval by the city council – with three developers who would build or refurbish home and sell them to moderate-income households.
Most of the units will be purchased through a land trust which would continue owning the land beneath the homes and make them permanently affordable through 99-year deed restrictions. Money for the projects would come from a city fund aimed at creating sustainable affordable housing, officials said.”
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