A strong economy includes good-paying jobs and housing for every income level. When voters approved Proposition 123 (Prop 123), the Affordable Housing Financing Fund gave OEDIT the opportunity to increase statewide housing support. The program has since become a powerful driving force for change, unlocking opportunities for more affordable housing developments across Colorado. To date, OEDIT and Colorado Housing and Finance Authority (CHFA), Program Administrator, are supporting projects that will help build an estimated 7,897 units. These funds are not just building homes, they are boosting our state’s economy—a win-win for Coloradans.
And that only scratches the surface of OEDIT’s housing support. Funding from Prop 123 and the Innovative Housing Incentive Program (IHIP) are supporting Colorado companies developing new building technologies that are increasing innovations in the building technology industry. Colorado off-site construction manufacturers supported by these funds expect to have the capacity to build up to 6,750 houses annually once they reach full production. We are thrilled to join other state agencies and housing partners in addressing the need for more housing now.
Take a look at some of the articles that highlight Prop 123’s support for more housing statewide.
Denver Business Journal: Colorado grants $67.5 million to affordable housing projects statewide
The Denver Business Journal shared eleven new recipients selected to receive support from the Prop 123 Equity program in June 2025. These equity funds are expected to provide investment capital for an estimated 1,017 low- and middle-income rental housing units across the state, including communities in Buena Vista, Denver, Monte Vista and Trinidad. Five recipients plan to utilize modular and off-site construction, including Colorado manufacturers Adoba, Fading West and Vederra Modular, helping to support the expansion of this housing sector.
Westernslopenow: Local affordable rental housing project given $7.9 million from state
A Grand Junction project was awarded Prop 123 Equity funds to support the first phase of a 192-unit project, which will use modular construction. Additional projects in Colorado Springs, Denver, Longmont and Pueblo will also help support low- and middle-income multifamily affordable rental housing.
Colorado Public Radio: Colorado giving nearly $48 million to local governments, groups to help with affordable housing
In May 2025, 21 new recipients were awarded Prop 123 Land Banking support for communities across Colorado as they acquire and preserve land for an estimated 1,892 home ownership and multi-family rental apartments. Plans for these projects include apartments in Colorado Springs, which will include an early childhood education center and serve households earning at or below 60% Area Median Income, meeting a wide variety of needs for Colorado families.
The Denver Post: Denver-based Zocalo Development breaks ground on 461 residential units near Sloan’s Lake
In Denver, a new housing development broke ground in the Sloan’s Lake neighborhood with support from Prop 123. The project includes the Liora Apartments, which will create an estimated 158 new units for renters earning 30 to 60% of the Area Median Income.
Summit Daily: Frisco awarded $5 million grant for affordable housing project on town’s Main Street
Featured in the Summit Daily, this story highlights a Frisco housing project to support more housing in our mountain communities. This project was one of the first 16 recipients of the Prop 123 Land Banking funds. These Land Banking funds are intended to support Colorado communities as they purchase and save land for affordable housing.
Sentinel Colorado: Aurora’s ‘Stables’ project gets $3.5M Prop 123 boost for affordable housing
This article from Sentinel Colorado shared Prop 123’s support of “The Stables” development in Aurora, which is a Prop 123 Concessionary Debt recipient. The project is a 85-unit affordable housing development serving individuals and families in Aurora’s Expo Park neighborhood. Collectively, the Concessionary Debt recipients will create an estimated 728 multi-family rental units.
To learn more about Prop 123, visit OEDIT’s Prop 123 page.