City of Boulder issued the following announcement on Dec. 21.
277 new additions provide a variety of rental and ownership opportunities for those seeking apartments, condos and townhomes. The acquisition of existing homes and construction of new homes this year is credited to both public and private development partners such as Allison Holdings, Boulder Housing Partners, Element Properties, Flatirons Habitat for Humanity, Koelbel and Thistle.
“We are pleased by the volume produced this year and by the quality, variety and seamless integration of these additions into neighborhoods across the city,” said Kristin Hyser, deputy director of the Housing and Human Services Department. “While the COVID-19 pandemic required the city to focus resources to meet immediate housing needs of our community members, the City’s ability to create and preserve safe and stable housing remains a critical priority.”
The city is committed to creating opportunities in the Boulder community for a diverse range of incomes. As of December 2020, affordable homes make up 8.4% (3,767) of city homes. The city aims to make 15% of its homes permanently affordable by 2035, including 1,000 middle-income homes. Data shows a 2 to 3 times higher proportion of black and Hispanic community members living in affordable housing compared to the overall population. Creating a more inclusive and diverse community is realized by the creation and preservation of housing options meeting diverse economic needs and circumstances.
Several methods are used by the city to secure funding for affordable housing, including commercial linkage fees, inclusionary housing policies, property taxes and leveraging external resources such as Low-Income Housing Tax Credits, Private Activity Bonds, Community Development Block Grants and the HOME Program. These techniques have proven successful to increase funding, resulting in a rise of affordable housing in the city.
Original source can be found here.
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