Colorado: Governor Polis Celebrates Construction of New Housing in Grand Junction

GRAND JUNCTION ~ Grand Junction, Colorado - Governor Jared Polis made a visit to "The Current", a newly constructed housing community in Grand Junction, today. The four-story complex, consisting of 54 units, was made possible by the funding provided by Proposition 123.

During his visit, Governor Polis expressed his excitement about the new homes being built in Grand Junction with state support. He stated that the demand for affordable housing in Colorado is high and his administration is taking action to address it. Before his term, there were no dedicated funds for housing construction in the state. However, now Colorado is investing hundreds of millions of dollars to increase the supply of housing and save people money.

The Current received a $4 million grant from the Office of Economic Development and International Trade's Concessionary Debt initiative. This program offers loan options to for-profit entities, non-profits, and local governments for building affordable housing. Additionally, The Current also received $500,000 from the Department of Local Affairs' Division of Local Government through their More Housing Now Initiatives. They also received a $318,000 Affordable Housing Incentives grant for site acquisition and $2.70 million from the Housing Development Grant funds.

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This project has made Grand Junction the largest city to-date to meet all requirements of Proposition 123 by constructing 374 new homes. As a result, the city will receive millions in new funding to support further construction of affordable homes.

The Current is strategically located near job opportunities, entertainment options, and transportation facilities. This will not only provide residents with convenient access but also contribute to the economic growth of Grand Junction.

Governor Polis's visit highlights the success of Proposition 123 in addressing Colorado's affordable housing crisis and providing support for communities like Grand Junction. With continued efforts and investments like these, it is hoped that more Coloradans will have access to safe and affordable housing in the future.

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