Joint Statement from Continuum Partners and Goshen Development on the Creation of the Colorado Workforce Housing Trust Authority
We are thrilled with the successful passage of SB22-232, which will boost development of affordable middle-incoming housing and help Coloradans continue to live where they work. Continuum Partners and Goshen Development have formed a strategic partnership to look for opportunity in the middle-income housing space in center city Denver neighborhoods and other strategic markets. Continuum Partners has a well-established track record of large scale, public-private partnerships through the Denver Metro area and Goshen’s principals have a strong history of work in the Five Points neighborhood and throughout Northeast Denver. Together, our team is uniquely positioned to drive forward this shared mission.
This bill represents a powerful new financing vehicle for addressing these housing challenges in our communities. Specifically, the passage of this bill represents the creation of a new special purpose authority which is being formed to lower and hold stable rents for new middle income housing developments. Through this newly formed housing authority, our two firms hope is to bring a series of new middle income housing development projects to the residents of Colorado communities who have been unfairly victimized by this aberrant market.
Our team is proud to have worked closely with Sen. Jeff Bridges, Sen. Dominick Moreno, and Rep. Leslie Herod to advance this legislation and to give insight into real estate market factors driving the rapid escalation in middle income housing costs in Colorado. “We have a housing crisis in Colorado,” said Bridges. “Middle income folks like nurses, teachers, and firefighters can’t afford to live in the communities where they work. This bill creates a market incentive for developers, nonprofits, and local governments to build the housing we need across our entire state.”
We applaud the State’s legislative leadership for their tireless efforts in ensuring a better housing future for our fellow Coloradans.
Giving testimony in photo from left to right:
Haroun Cowans, Goshen Development
Rashad Younger, NAACP Denver Branch
MiDian Holmes, 8PM Consulting for Humanity
Mark Falcone, Continuum Partners