Colorado: Housing Victory During Affordable Housing Month: Grand Junction Becomes Largest City to Date to Complete All Proposition 123 Requirements

STATEWIDE – Today, during Affordable Housing Month, Governor Polis, the Department of Local Affairs (DOLA), and the Office of Economic Development and International Trade (OEDIT) celebrated the City of Grand Junction becoming the largest city in Colorado to meet all Proposition 123 requirements by building 374 more homes people can afford.

"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.

By meeting both unit commitment and fast-track permitting obligations, the city will continue to have access to Proposition 123 funds, which include the Affordable Housing Support Fund managed by DOLA and the Affordable Housing Finance Fund managed by OEDIT in partnership with Program Administrator the Colorado Housing and Finance Authority (CHFA). These funds are helping the city and surrounding areas build more homes in the community.

"This is a milestone win for the region and for Colorado's entire affordable housing movement," said DOLA Executive Director Maria De Cambra. "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 the development of affordable housing in Grand Junction, the city secured a total of $27.2 million in Proposition 123 Affordable Housing Financing Funds. These funds, which are managed by OEDIT and administered by CHFA, will be directed toward gap financing, equity investments and land acquisition, and infrastructure improvements for future affordable housing projects.

"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," said Eve Lieberman, OEDIT Executive Director.

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A total of $224,000 from DOLA's Proposition 123 Affordable Housing Support Fund will support affordable homeownership and local planning capacity needs for the City. Grand Junction is also included in a regional down payment assistance award totaling $2 million.

"This is an important moment for Grand Junction," said Grand Junction Mayor Cody Kennedy. "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. That commitment is reflected in our strategic plan and in the partnerships that help move this work forward. Reaching 374 housing units is a meaningful accomplishment, and we are proud to celebrate alongside our partners."

"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," said Grand Junction Housing Authority CEO Scott Aker. "This work reflects years of dedication, long-term investment, and a shared commitment to creating, preserving, and improving housing opportunities in our community. We are proud to have accounted for nearly 70% of the units counted toward the City's commitment, and we are grateful for the collaboration of our state, City, and community partners who help make Grand Junction a place people can afford to call home."

The City of Grand Junction has also invested significantly in affordable housing to meet its Prop 123 commitment, having invested over $11.8 million to support the construction, preservation, and conversion of 164 units included in the 3-year commitment period.

In addition to the Grand Junction Housing Authority, key partners contributing units toward the City's commitment included Grand Valley Catholic Outreach with 40 units (10%), Housing Resources of Colorado with 34 units (9%) through its assistance and rehab programs, Aspire Residential (24 units), Habitat for Humanity (15), and Hilltop (4).

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Affordable Housing Month

The milestone comes as Colorado celebrates Affordable Housing Month and the state's commitment to collaborative solutions that address the housing crisis head-on.

With today's announcement, the following seven jurisdictions have now successfully met all of the statutory requirements of Proposition 123:

• Town of Silverton 10 units
• Town of Ridgway 10 units
• Ouray County 6 units
• Town of Bayfield 14 units
• Town of Lyons 10 units
• City of Idaho Springs 22 units
• City of Grand Junction 374 units (437 total units)

Proposition 123 has been a critical mechanism for a permanent funding stream to tackle Colorado's housing crisis, dedicating annual state revenue to long-term affordable housing solutions.

DOLA and OEDIT have led statewide implementation, providing technical assistance, developing compliance rules, and managing the application and distribution of over $1 billion in Proposition 123 funds to support participating communities. For the first 3-year cycle of Proposition 123, 217 local and tribal governments across the state filed commitments for a proposed total increase of almost 23,000 affordable housing units. This commitment also requires effective implementation of an expedited review process by the end of 2026. So far, 104 jurisdictions have adopted fast track policies that ensure affordable housing projects are reviewed and decided within 90 days per application, as required by Proposition 123. This milestone is significant not only because it represents nearly half of all Proposition 123 eligible jurisdictions meeting one of the two key compliance requirements nine months early, but it means they've also addressed one of the most important housing strategies that can reduce the cost to build and get more housing built faster.

Local jurisdictions are not required to submit compliance materials until December 31, 2026, but DOLA encourages early reporting for communities committing to the next funding cycle.

For more information on Proposition 123 commitments and timelines, visit DOLA's website.

For more information on Proposition 123 Affordable Housing Finance Fund, visit the AHFF website.

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