Governor Polis, the Department of Local Affairs (DOLA), and the Office of Economic Development and International Trade (OEDIT) announced on May 8 that Grand Junction has become the largest city in Colorado to complete all requirements under Proposition 123 by building 374 new affordable homes.
The announcement comes during Affordable Housing Month and highlights Grand Junction’s commitment to addressing housing affordability for residents. Meeting both unit commitment and fast-track permitting obligations allows the city continued access to Proposition 123 funds, which are managed by DOLA and OEDIT in partnership with the Colorado Housing and Finance Authority.
“Building more housing now is a priority and it’s important that local governments like Grand Junction are stepping up to be part of the solution. I applaud Grand Junction for its commitment to building more housing people can afford and breaking down barriers that stop new housing. Building more homes is important for families, workers, businesses and the entire region,” said Governor Polis.
Maria De Cambra, Executive Director of DOLA, said: “This is a milestone win for the region and for Colorado’s entire affordable housing movement. Grand Junction’s commitment to their Proposition 123 goals, in partnership with regional stakeholders, translates directly into hundreds of stable homes for the community and continues the positive housing trajectory of our state.”
To support these efforts, Grand Junction secured $27.2 million from Proposition 123 Affordable Housing Financing Funds directed toward gap financing, equity investments, land acquisition, and infrastructure improvements. The city also received $224,000 from DOLA’s Affordable Housing Support Fund as well as inclusion in a $2 million regional down payment assistance award.
Eve Lieberman, OEDIT Executive Director said: “OEDIT is thrilled to support five essential new housing options with $27.2 million in investment to date in the Grand Junction area through the Proposition 123 Affordable Housing Financing Fund. As a regional employment hub, Grand Junction’s commitment to providing stable homes for low-income Colorado families along with new community amenities will directly improve quality of life while strengthening the local economy.”
Grand Junction Mayor Cody Kennedy said: “This is an important moment for Grand Junction. The City has been focused and committed to housing affordability because we know how deeply it affects residents, families, workers, seniors, and the overall strength of our community… Reaching 374 housing units is a meaningful accomplishment.” Scott Aker of the Grand Junction Housing Authority added: “Helping ensure Grand Junction residents have access to housing they can afford is at the heart of what we do at the Grand Junction Housing Authority… We are proud to have accounted for nearly 70% of units counted toward City’s commitment.”
In addition to investments from local authorities totaling over $11.8 million supporting construction or preservation projects during this period—partners such as Grand Valley Catholic Outreach (40 units), Housing Resources of Colorado (34 units), Aspire Residential (24 units), Habitat for Humanity (15 units), Hilltop (4 units) contributed toward meeting targets.
With this achievement during Affordable Housing Month—and alongside six other jurisdictions meeting similar requirements—state officials say these efforts represent significant progress towards long-term solutions supported by annual state revenue dedicated through Proposition 123.
