Senate Signs Off On Legislation to Encourage More Housing Near Transit and Jobs

DENVER, CO – Legislation aimed at increasing housing options and providing financial support to local governments that meet their housing goals cleared the Senate today.

HB24-1313, sponsored by Senators Chris Hansen, D-Denver, and Faith Winter, D-Broomfield, would encourage more housing near public transit, cycling and walking corridors, places of employment, and other centers of community, while helping prevent Coloradans from being displaced from their communities.

“The housing challenges plaguing our state are reaching a fever pitch, which is why Democrats are laser focused on providing solutions,” Hansen said. “One of those solutions is to incentivize smart, strategic growth near jobs and transit. This bill will do just that, while also reducing congestion on our roads, cutting air pollution, and increasing affordability, so that more Colorado families can find a place to call home that works for them.”

“Coloradans are begging for more housing, and there is no better place to build housing and increase density than near transit,” Winter said. “This bill is important in multiple ways - it will increase housing options, reduce costs, and help our state reach its climate goals, all while protecting vulnerable communities from displacement. I am proud to champion this legislation, and I look forward to the benefits it will bring to our state.”

The bill empowers local governments to address Colorado’s housing needs and incentivizes them to build more housing by providing financial assistance to help meet their housing goals. It also aims to conserve Colorado’s natural resources and improve air quality to protect vulnerable communities from pollution-related health issues. Of the 31 jurisdictions that would qualify under this bill, most are along the I-25 corridor.

Communities that meet their Housing Opportunity Goals would benefit from the new $35 million Transit-Oriented Communities Infrastructure Fund to support their work to improve infrastructure within transit centers or neighborhood centers.

A recent poll found that 95 percent of Coloradans say the cost of renting or buying a home is a problem, with 70 percent saying that local governments aren’t doing enough to address this issue. Nearly 70 percent of Colorado voters also support a state law, like HB24-1313, to require cities and counties to allow more housing to be built near public transit and businesses and shopping areas while providing financial assistance for these projects.

HB24-1313 will now move to the House for consideration of amendments. Track the bill’s progress HERE.