Nationwide, more than half of the rental homes affordable to people with lower incomes exist in smaller properties with fewer than 50 apartments. Yet most lack affordability restrictions.
In Colorado, small to medium multifamily properties (SMMF) with two to 49 units account for 66 percent of homes affordable to lower-income households, yet most lack affordability restrictions.
Across different communities throughout Colorado, this vital segment of the rental housing stock is vulnerable to rising rents, deterioration, and destabilization, putting owners and residents in jeopardy, too.
Colorado Preservation Next Cohort Members
As part of the Colorado Preservation Next Academy, Enterprise selected eight organizations across the state through a competitive RFP process to face this affordability issue head-on. The cohort is comprised of developers and community land trusts working to preserve long-term affordability in small- and medium-multifamily properties. Their expansive work includes preventing resident and cultural displacement, fostering community stewardship, and investing in healthy, safe homes.
The Colorado Preservation Next Cohort members are:
- Archway Communities
- Douglas County Housing Partnership
- East Colfax Community Collective
- Home Trust of Ouray County
- Housing Resources of Western Colorado
- Mercy Housing Mountain Plains
- Rocky Mountain Communities
- San Luis Valley Housing Coalition
- The Fax Partnership
- Total Concept
- Urban Land Conservancy
Academy Launches March 28
The academy is a series of publicly available virtual training sessions designed to assist affordable housing developers, practitioners, and advocates with guidance to acquire, rehabilitate and preserve the affordability of homes located in SMMF properties.
The cohort and academy are key components of Enterprise’s national Preservation Next program. The program provides training and tools, catalytic grants, and capital resources to support the preservation of unsubsidized affordable homes in small and medium multifamily properties.
Enterprise’s Preservation Next program is made possible with funding from Kaiser Permanente.