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Legislation would increase housing options Coloradans can afford to help meet demand
DENVER, CO - State legislators today unveiled bipartisan legislation to create more housing options Coloradans can afford by allowing homeowners to build Accessory Dwelling Units (ADUs).
“We need an all-hands approach to tackle Colorado’s housing crisis, and that includes allowing homeowners to have Accessory Dwelling Units on their properties,” said Rep. Judy Amabile, D-Boulder. “ADUs are typically a more affordable option for renters, and they give homeowners the freedom to use their property to house a family member or earn some extra income. By allowing ADUs to be built and offering financing to lower- and middle-income Coloradans, we can make it easier for Coloradans to afford to stay in the communities where they live and work.”
“Colorado families and communities are begging for solutions to help address the housing crisis and build more homes for working Coloradans,” said Sen. Kyle Mullica, D-Thornton. “Our bill will give more Coloradans the freedom and support they need to build ADUs on their property, allow more older Coloradans to age in place, and create more affordable housing options in our communities..”
"The people of the state, as well as local governments, have been pleading with the legislature to address and provide solutions to the housing affordability crisis," said Rep. Ron Weinberg, R-Loveland. "I am strongly of the belief that this bill, while not being the complete solution, will provide relief to the citizens of Colorado and justify why we have been chosen to legislate."
“Everyone deserves a safe and comfortable place to live, but too many families are struggling to afford the cost of housing in our state,” said Sen. Tony Exum, D-Colorado Springs. “By giving folks the flexibility to build ADUs on their property, as well as providing grant funding to help cover construction costs, we can bring down housing prices and keep more Coloradans in the communities they call home.”
HB24-1152 would allow homeowners in high-density areas to build an ADU and creates a new state grant program to help local governments implement policies to promote the construction of ADU’s.
The bill would provide eligible local governments with access to grants that support lower and middle-income Coloradans building an ADU, property owners renting their ADU at an affordable rate or ADUs intended to serve demonstrated housing needs in the community. The bill also provides grants to increase housing accessibility and availability for Coloradans with disabilities.
Finally, the bill includes funding through the Colorado Housing and Finance Authority to directly help homeowners with down payment assistance or to buy down interest rates on loans connected with ADUs.
Recent polling found that 78 percent of Colorado voters support a law that allows ADUs to be built on single family home properties.