Strategies

The Housing and Community Vitality Department manages the City’s investments in developing affordable multi-family housing by leveraging diverse funding sources including the HOME Investment Partnership Program, Community Development Block Grant (CDBG), and Private Activity Bonds. 

The department’s strategies for the creation and preservation of affordable housing include: 

  • Development 
  • Acquisition 
  • Rehabilitation 
  • Conversion 

For total number of units created annually, and other data, review our latest update to the City’s housing plan, HomeCOS. 

Examples

Workforce Housing

Creates opportunities for rent-burdened households with moderate incomes. 

Shooks Run

  • Construction completed in 2021 
  • Partnered with: Colorado Springs Housing Authority 
  • 40 apartment units 
  • One, two, three bedroom units 
  • Rent range: $385 to $1,169 
  • Total Project Cost: $12.9 million 
  • City Funding tools: HOME 

 

Senior Housing

Provides affordable age-restricted units. Many senior housing projects offer community activities, amenities and services specifically directed to this population, such as social events, fitness centers, on-site food pantries or visiting on-site medical care. 

Atrium at Austin Bluffs 

  • Construction completed in 2021 
  • Partnered with: Greccio Housing 
  • 54 apartment units 
  • One and two bedroom units 
  • Rent range: $437 to $1,050 
  • Total Project Cost: $13.6 million 
  • City Funding tools: HOME, PAB 

Permanent Supportive Housing

Combines affordable housing assistance with support services, to address the needs of chronically homeless households. Permanent Supportive Housing can allow individuals and families to focus on finding employment, budgeting scarce resources, or overcoming substance abuse issues. 

Greenway Flats 

  • Construction completed in 2019 
  • Partnered with: Springs Rescue Mission 
  • 65 apartment units 
  • Efficiency units 
  • Rent range: 30% of tenant income 
  • Total Project Cost: $14.6 million 
  • City Funding tools: HOME