The Denver Office of Economic Development is requesting qualifications from partners interested in contracting with the city in acquiring, operating and preserving existing income-restricted and unsubsidized affordable properties.
The request is an effort to retain existing affordable housing
Over 20,000 income-restricted housing units in Denver were created through public investment. According to a release from OED, more than 1,750 of those are at risk of losing their affordability over the next five years due to expiring income restrictions.
When public money (local, state or federal) is invested into affordable housing, a restriction is placed on the home or land to ensure the price remains affordable for an extended period. When that expires, the owner of the property is no longer required to rent or sell to an income-qualified household.
