Senate Passes Transformative $150 Million Housing Bill to Save Money on Housing, Build More Homes Families Can Afford

Legislation will save Coloradans money & help transform our state’s housing infrastructure 

DENVER, CO – The Senate today passed a bill to help Colorado address the ongoing housing crisis, save people money, and build more homes families can afford. 

SB22-159, sponsored by Senators Jeff Bridges, D-Greenwood Village, and Rachel Zenzinger, D-Arvada, will invest $150 million to create the Transformational Affordable Housing Revolving Loan Program to develop and integrate housing-related infrastructure, provide gap financing for housing development projects, and preserve and rehabilitate existing affordable housing.

“Families are feeling squeezed as housing prices continue to skyrocket across our state, leaving far too many without housing options they can afford,” Bridges said. “With this bill, we’re going to make a historic investment to cut costs and make Colorado a more affordable place to live, work and raise a family. By developing more housing that is affordable to families, we can ensure that more Coloradans have a safe place to call home.”

“To solve Colorado’s crisis in affordable housing, we must encourage developers and the construction industry to expand our inventory,” Zenzinger said. “The task force made this bill a top priority because of the regenerative nature of the funds attached. The availability of affordable housing allows us to make progress on the solution of a myriad other problems in Colorado, and it’s imperative that we act now.”

The legislation is based on recommendations from the Affordable Housing Transformational Task Force.

SB22-159 now moves to the House for further consideration. Track the progress of the bill HERE.