Creating Housing and Jobs: Polis Administration Announces Modular Housing Loans to Create Up to 4,755 More Housing Units Per Year
DENVER – Gov. Jared Polis, the Colorado Office of Economic Development and International Trade (OEDIT), and Colorado Housing and Finance Authority (CHFA) announced funding to support eight modular housing manufacturers across Colorado. Collectively, these manufacturers are projected to create 4,755 housing units per year and 1,280 new jobs.
"Colorado needs more housing now, and these manufacturers will help us build over 4,700 more units per year so more people can live closer to the jobs and the communities they love. This is an important part of our work to increase Colorado’s housing supply and make sure our state has nice housing for every budget." — Gov. Jared Polis
Funding Programs
- Innovative Housing Incentive Program (IHIP): Loan funding to support innovative housing manufacturing (panelized homes, tiny homes, 3D-printed homes).
- Proposition 123 Affordable Housing Financing Fund: Provides low-cost financing for affordable housing development. 60% of funds managed directly by Colorado Housing and Finance Authority (CHFA).
Funded Recipients (2024 Awards)
- Adoba Design (Pueblo)
- Azure Printed Homes (Denver)
- Fading West (Buena Vista)
- Guerdon (TBD)
- Huron Components (Metro Denver)
- Timber Age Systems (Mancos)
- Vederra (Aurora)
- VillaLife (Florence)
Funding Summary
- Total awarded: $38M
- $20M from IHIP loans
- $18M from Prop 123 Affordable Housing Financing Fund
- Loan terms: Interest rates 1.5%-1.75% with potential interest-only periods
IHIP Program Details
Prop 123 Affordable Housing Financing Fund
Colorado Housing and Finance Authority