Housing Efforts

2024 Strategic Doing Framework

The City of Colorado Springs, under Mayor Yemi’s leadership, has developed a 2024 Strategic Doing Framework, which includes Housing Solutions priorities and objectives.  

Housing our Future 

In 2023, the City of Colorado Springs became one of the 1st large cities in Colorado to opt-in to Proposition 123. Prop 123 is making additional funding available for the development of affordable and attainable housing in our region. As part of our commitment to access Prop 123 funds, the city will partner with for-profit and non-profit developers to produce 758 or more new units of affordable housing for our residents each year.

Housing Our Future Housing needs chart (click for pdf/ readable version)

Housing programs

The City invests HUD grant funds and allocates private activity bonds for affordable housing through the following programs:  

Community led efforts

The Housing and Community Vitality Department also supports the work of community-led efforts such as the Pikes Peak Housing Network.  

link to home c o s plan
Find Affordable Housing
Funding Opportunities

Types of Housing

The Community Development Division manages the City’s strategic investments to increase the supply and preserve existing inventory of affordable housing.  

What is Affordable Housing? 

Affordable Housing generally has these characteristics: 

  • The cost of developing and managing the housing is usually subsidized so that tenants or homeowners pay no more than 30% of their income. 
  • Subsidized apartments and homes are typically reserved for a mix of residents whose incomes are at or below 30%, 50% or 80% of area median income (AMI).  
  • The housing is subject to affordability restrictions in the form of long-term rent limits or, in the case of affordable homeownership, re-sale to a subsequent low- to moderate-income household. 

 

What is Attainable Housing? 

In contrast, Attainable Housing may be priced to meet the needs of lower-income households in the region but is not typically subject to long-term rent restrictions or re-sale provisions.