Search
 

Blue Ribbon Panel Proposes Changes to Affordable Housing Procedures

DENVER-Affordable housing developers in Colorado need help from the public sector, according to a recent public-private report. Authored by the Colorado Blue Ribbon Panel on Housing, the study suggests that governmental agencies create a common application procedure to streamline developers' ability to get financing.

By John Rebchook | Updated on March 07, 2006

(To read more on the multifamily market, click here.)

DENVER-It costs developers an estimated $5.34 million, or $85,000 per unit, to develop a typical 60-unit, two-bedroom affordable housing community in Colorado, according to a recently released Colorado Blue Ribbon Panel on Housing report. Kathi Williams, executive director of the Colorado Division of Housing, and co-chair of the report, is calling the public-private report, 13 months in the making, the most exhaustive report ever compiled in the state.

The report states that a typical affordable housing community requires a developer to receive cash flow of $562,000, which means the developer needs $950 per month in rent to operate and pay the debt.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.